1. Acquired $35,000 cash from the issue of common stock. 2. Borrowed $35,000 cash from National Bank. 3. Earned cash revenues of $53,000 for performing services. 4. Paid cash expenses of $47,500. 5. Paid a $1,500 cash dividend to the stockholders. 6. Acquired an additional $25,000 cash from the issue of common stock. 7. Paid $9,000 cash to reduce the principal balance of the bank note. 8. Paid $58,000 cash to purchase land. 9. Determined that the market value of the land is $81,000.

1. Acquired $35,000 cash from the issue of common stock. 2. Borrowed $35,000 cash from National Bank. 3. Earned cash revenues of $53,000 for performing services. 4. Paid cash expenses of $47,500. 5. Paid a $1,500 cash dividend to the stockholders. 6. Acquired an additional $25,000 cash from the issue of common stock. 7. Paid $9,000 cash to reduce the principal balance of the bank note. 8. Paid $58,000 cash to purchase land. 9. Determined that the market value of the land is $81,000.

Name: ntseBookPrintReferencesMaben Company was started on January 1, Year 1
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Description: ntseBookPrintReferencesMaben Company was started on January 1, Year 1, and experienced the following events during its first year of operation:1. Acquired $35,000 cash from the issue of common stock.2. Borrowed $35,000 cash from National Bank.3. Ear

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A company had the following cash flow activities during the year: Cash Inflows Cash OutflowsIssue common stock $75,000 Purchase equipment $180,000Sell inventory to customers 86,000 Purchase inventory 38,000Issue notes payable 53,000 Purchase treasury stock 40,000Sell land 98,000 Repay notes payable 30,000Earn interest on investments 2,000 Pay salaries 39,000Sell patent 61,000 Pay dividends 15,000Required:Calculate net cash flows from (a) operating activities, (b) investing activities, and (c) financing activities. (d) Assuming the balance of cash at the beginning of the year is $53,000, calculate the ending balance of cash. How would your answers change if the common stock was issued for $80,000 and the equipment was purchased for $170,000?
according to information: Question Liabilities OMR Assets OMR Equity share capital 27,800 Furniture 4,000 Accounts Payable 1,550 Cash in hand 4,500 Reserves and surplus 2,550 Bills receivables 3,750 Bills payable 950 Land 9,000 Long term borrowings 6,520 Marketable securities 850 Outstanding Salaries 850 Cash in bank 5,250 Loan from Bank 3,450 Building 6,600 Preference share capital 5,265 Prepaid expenses 850 Bank overdraft 825 Cars & Trucks 3,350 Tax outstanding 590 Account Receivables 1,150 Inventory 2,150 Income earned but not received 430 Machinery 6,250 Equipment 2,220 Total 50,350 Total 50,350 Other information Particulars OMR Sales 330,000 Cost of goods sold 155,000 Administration expenses 33,000 Selling & Distribution exp. 44,000 Interest received…
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