Question: The Gryffin Company started operations this year and reported the following information at the end of the year ( i . e . ending balances

The Gryffin Company started operations this year and reported the following information at the end of the year (i.e. ending balances after all transactions have already been recorded and summarized):
Revenue $16,900 Equipment $10,500
Notes payable 2,000 Cost of Goods Sold 12,600
Cash 1,650 Payroll expense 2,400
Common stock 10,000 Inventory 850
Maintenance expense 750 Dividends 150
Flag question: Question 1
Question 12 pts
What must have been the company's cash flows for investing activities for the year? Use a positive number to indicate an overall (i.e. net) inflow or a negative number to indicate an overall outflow.
HINT (for this question as well as the next question):
Given the ending balances for each account above (except Cash), certain transactions must have taken place to result in those balances; what would have those transactions been?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!