account. Using the information below, all of which occurred during Year 2, prepare a statement of cash flow for Jen. Evaluate her cash management strategy during Year 2. Sold an equity interest in the business for $13,000 cash. Generated revenue from floral sales of $20,000, collecting all but $5,000. Incurred operating expenses totaling $9,000, of which $2,000 remained unpaid at the end of Year 2. Purchased new store equipment for $5,000, with a down payment of $2,500 cash and signing a note pay-able for $2,500. Paid shareholders a cash dividend of $2,800
account. Using the information below, all of which occurred during Year 2, prepare a statement of cash flow for Jen. Evaluate her cash management strategy during Year 2. Sold an equity interest in the business for $13,000 cash. Generated revenue from floral sales of $20,000, collecting all but $5,000. Incurred operating expenses totaling $9,000, of which $2,000 remained unpaid at the end of Year 2. Purchased new store equipment for $5,000, with a down payment of $2,500 cash and signing a note pay-able for $2,500. Paid shareholders a cash dividend of $2,800
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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- Sold an equity interest in the business for $13,000 cash.
- Generated revenue from floral sales of $20,000, collecting all but $5,000.
- Incurred operating expenses totaling $9,000, of which $2,000 remained unpaid at the end of Year 2.
- Purchased new store equipment for $5,000, with a down payment of $2,500 cash and signing a note pay-able for $2,500.
- Paid shareholders a cash dividend of $2,800
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