Alex Vera organized Succulent Express at the beginning of February 20Y4. During February, Succulent Express entered into the following transactions: Terry Mason invested $33,125 in Succulent Express in exchange for common stock. Paid $4,320 on February 1 for an insurance premium on a one-year policy. Purchased supplies on account, $1,920. Received fees of $61,645 during February. Paid expenses as follows: wages, $15,000; rent, $2,500; utilities, $1,250; and miscellaneous, $1,375. Paid dividends of $7,635. There was $1,056 of supplies on hand as of February 28. Assume that adjusting entries for usage of supplies and expiration of prepaid insurance were recorded on February 28, 20Y4. Based on the information above, determine the net cash flow from operating activities as of February 28, 20Y4.
Alex Vera organized Succulent Express at the beginning of February 20Y4. During February, Succulent Express entered into the following transactions: Terry Mason invested $33,125 in Succulent Express in exchange for common stock. Paid $4,320 on February 1 for an insurance premium on a one-year policy. Purchased supplies on account, $1,920. Received fees of $61,645 during February. Paid expenses as follows: wages, $15,000; rent, $2,500; utilities, $1,250; and miscellaneous, $1,375. Paid dividends of $7,635. There was $1,056 of supplies on hand as of February 28. Assume that adjusting entries for usage of supplies and expiration of prepaid insurance were recorded on February 28, 20Y4. Based on the information above, determine the net cash flow from operating activities as of February 28, 20Y4.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Alex Vera organized Succulent Express at the beginning of February 20Y4. During February, Succulent Express entered into the following transactions:
- Terry Mason invested $33,125 in Succulent Express in exchange for common stock.
- Paid $4,320 on February 1 for an insurance premium on a one-year policy.
- Purchased supplies on account, $1,920.
- Received fees of $61,645 during February.
- Paid expenses as follows: wages, $15,000; rent, $2,500; utilities, $1,250; and miscellaneous, $1,375.
- Paid dividends of $7,635.
There was $1,056 of supplies on hand as of February 28. Assume that
Based on the information above, determine the net
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