Freeman, Inc. began operations on January 1, 2020. During 2020, the company engaged in the following cash transactions: 1) issued stock for $74,000 2) borrowed $42.000 from its bank 3) provided consulting services for $72,000 4) paid back $32,000 of the bank loan 5) paid rent expense for $17,500 6) purchased equipment costing $29,000 7) paid $4,700 dividends to stockholders 3) paid employees' salaries, $38,000 What is Freeman's net cash flow from investing activities? Multiple Choice Outflow of $55,700 Inflow of $45,000 Outflow of $29,000
Freeman, Inc. began operations on January 1, 2020. During 2020, the company engaged in the following cash transactions: 1) issued stock for $74,000 2) borrowed $42.000 from its bank 3) provided consulting services for $72,000 4) paid back $32,000 of the bank loan 5) paid rent expense for $17,500 6) purchased equipment costing $29,000 7) paid $4,700 dividends to stockholders 3) paid employees' salaries, $38,000 What is Freeman's net cash flow from investing activities? Multiple Choice Outflow of $55,700 Inflow of $45,000 Outflow of $29,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Freeman, Inc. began operations on January 1, 2020. During 2020, the company engaged in the following cash transactions:
1) issued stock for $74,000
2) borrowed $42.000 from its bank
3) provided consulting services for $72,000
4) paid back $32,000 of the bank loan
5) paid rent expense for $17,500
6) purchased equipment costing $29,000
7) paid $4,700 dividends to stockholders
3) paid employees' salaries, $38,000
What is Freeman's net cash flow from investing activities?
Multiple Choice
Outflow of $55,700
Inflow of $45,000
Outflow of $29,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F386fafd1-1e1c-4432-8e33-d0017975ee71%2Fa98e10f1-d829-4c6e-b845-22433f42a7de%2Fjh81sh2_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Freeman, Inc. began operations on January 1, 2020. During 2020, the company engaged in the following cash transactions:
1) issued stock for $74,000
2) borrowed $42.000 from its bank
3) provided consulting services for $72,000
4) paid back $32,000 of the bank loan
5) paid rent expense for $17,500
6) purchased equipment costing $29,000
7) paid $4,700 dividends to stockholders
3) paid employees' salaries, $38,000
What is Freeman's net cash flow from investing activities?
Multiple Choice
Outflow of $55,700
Inflow of $45,000
Outflow of $29,000
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