rate of 8% to the Capital Bank on August 1, 2017, The note carried a one-year te

Question

rate of 8% to the Capital Bank on August 1, 2017, The note carried a one-year term. The amount of cash flow from operating activities on the 2017 statement of cash flows would be: 1 points QUESTION 14 Raymond Company borrowed $8,000 on April 1,2017 from the Meramec Bank. The note issued by Raymond carried a one year term and a 7% annual interest rate. Raymond earned cash revenue of $850 in 2017 and $700 in 2018. Assume no other transactions. The amount of total liabilities that would appear on Raymond's December 31 balance sheets for 2017 and 2018 would be -38420;-0- r b. $8,889; $ 8,240. (-c.$8,960; $8,240, c d, $889; $240. 1 points QUESTION 15 Which of the following is a claims exchange transaction? c b. C.Renaid nrincinald. Agoved interest

Explanation / Answer

Answer. a . $8,420, 0

Explanation:

Loan Borrowed on April 1, 2017 8000 Annual Interest Rate 7% Interest payable for 9 months (8000X7%X9/12) 420 Liabilites as at December 31, 2017 (8000+420) 8420 Total Repaid on March 31, 2018 along with interest So, Liabilites as at December 31, 2018 0

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