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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