contestada

The following transactions pertain to the operations of Ewing company for year 2.

1.Acquired $30,000 cash from the issue of common stock
2.Provided $65,000 of services on account
3.Paid $22,000 cash on accounts payable
4.Performed services for $8000 cash
5.Collected $51,000 cash from accounts receivable
6.Incurred $37,000 of operating expenses on account
7.Paid $6500 cash for one years rent in advance
8.Paid a $4000 cash dividend to the stockholders
9.Paid $1200 cash for supplies to be used in the future
10.Recognize $3100 of accrued salary expense

Prepare a statement of cash flow‘s. The beginning cash balance was $6700.

Respuesta :

Answer:

ending cash balance                    62,000

Explanation:

operating activities:

services on cash       8,000

collected from AR    51,000

paid to supplies     (22,000)

rent paid                   (6,500)

supplies paid            (1,200)

cash generated from operating: 29,300

financing activities:

issuance of stock      30,000

cash dividends paid   (4,000)

cash generated from financing: 26,000

cash generated during the year: 55,300

beginning cash balance                 6, 700

ending cash balance                    62,000