Professional Documents
Culture Documents
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The entity provided the following cash flow information for 2021:
How much actual cash rental was received by Lion’s Price Company in the current year?
A. 65,500
B. 62,500
C. 61,500
D. 58,500
December 31 January 1
Interest payable 2,500,000 2,000,000
Prepaid interest 1,500,000 500,000
How much interest expense should Elemental report for the current year?
A. 6,500,000
B. 5,500,000
C. 4,500,000
D. 3,500,000
On a statement of cash flows for 2020, using the direct method, cash payments for operating expenses should be:
A. 339,000
B. 321,000
C. 249,000
D. 231,000
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