accounting queston 1

User Generated

xfhtenq2020

Business Finance

Description

i am stuck on the following problem. here is a pic of the problem

http://imgur.com/Y6cY1OD

any help would be greatly appreciated

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Explanation & Answer

Cash from operating activities:

   Cash revenues                                   $58,000

    Less cash expenses                           50,000        $8,000

Cash from investing activities:

    cash paid for purchase of land                              $(51,000)

Cash from financing activities:

    Cash receipt from:

   Issue of common stock                       $60,000

   Borrowed from National Bank                42,000

                                                              $102,000

     Cash paid for:

       Cash dividend                   $2,000

       Paid bank loan                   11,000      13,000        $99,000


Anonymous
Great content here. Definitely a returning customer.

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