Mustard Seed Gifts had the following results for December 31, 2020 and 2019, res
ID: 2548038 • Letter: M
Question
Mustard Seed Gifts had the following results for December 31, 2020 and 2019, respectively:
2020
2019
Cash
$ 50,000
$ 40,000
Noncash current assets
190,000
160,000
Cash flows from financing activities
210,000
Cash flows from operating activities
90,000
What was the amount of cash flows from investing activities for 2020?
a.
Cash outflow of $290,000
b.
Cash inflow of $290,000
c.
Cash outflow of $10,000
d.
Cash outflow of $30,000
2020
2019
Cash
$ 50,000
$ 40,000
Noncash current assets
190,000
160,000
Cash flows from financing activities
210,000
Cash flows from operating activities
90,000
Explanation / Answer
Cash flows from operating activities 90000 Add:Cash flows from financing activities 210,000 Add:cash flows from investing activities(balance) (290,000)(A). Net change in cash $10000 Add:beginning cash 40000 Ending cash 50000
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