Last time bugging you for answer critiques today

1) (Assume all transactions are cash transactions) La Fiesta Company engaged in the following transactions during 2007, its first year in operation: 1) Acquired $4,000 cash from issuing common stock. 2) Borrowed $2,200 from a bank. 3) Earned $3,100 of revenues. 4) Incurred $2,400 in expenses 5) Paid dividends of $500

The amount of total assets on La Fiesta's 2007 balance sheet was: a) $6,400 b) $5,400 c) $12,500 d) $5,700

My thought is that the assets are (4,000 + 2,200 + 3,100) - (2,400 +

500) = $6,400. Is this correct?

2) Farr company earned $1,000 of cash revenue, paid $400 for cash expenses, and paid a $200 cash dividend to its owners. Which of the following statements is true? a) The net cash flow from operating activities was $600. b) The net cash flow from investing activities was an outflow or decrease of $200 c) The net cash flow from operating activities was $400 d) Cash flows from financing activities were unchanged.

My choice is c) The net cash flow from operating activities was $400. The $200 cash dividend was a financing activity.

3) During 2008, Mueller engaged in the following transactions.(Assume all transactions are cash transactions) 1) Issued an additional $325 of common stock 2) Repaid $220 of its debt to the bank 3) Earned revenues of $750 4) Incurred expenses of $360 5) Paid dividends of $100

The amount of retained earnings on Mueller's 2008 balance sheet is: a) $1,125. b) $1,790. c) $490. d) $290.

My guess is d) $290. (750 - 360 - 100) Is that correct?