An analysis of the cash account reveals the following summary information: Beginning balance: 77,000 Paid for operating expenses: (290.000) Paid to purchase equipment: (100,000) Paid to purchase inventory: (410,000) Paid to shareholders for dividends: (12,000) Paid toward balance on note payable: (70,000) Received from customers: 905,000 Received from issuance of stock: 5000 Ending Balance: 105,000 Additional information: • Greenholt held 50,000 shares of common stock in Years 1 & 2 Greenholt had a beginning balance of $5,000 in Accounts Receivable on January 1, Year 2 Greenholt had a beginning balance of $20,000 in inventory on January 1, Year 2 Prepare a income statement, Cashflow statement and balance sheet statement with the given information
An analysis of the cash account reveals the following summary information: Beginning balance: 77,000 Paid for operating expenses: (290.000) Paid to purchase equipment: (100,000) Paid to purchase inventory: (410,000) Paid to shareholders for dividends: (12,000) Paid toward balance on note payable: (70,000) Received from customers: 905,000 Received from issuance of stock: 5000 Ending Balance: 105,000 Additional information: • Greenholt held 50,000 shares of common stock in Years 1 & 2 Greenholt had a beginning balance of $5,000 in Accounts Receivable on January 1, Year 2 Greenholt had a beginning balance of $20,000 in inventory on January 1, Year 2 Prepare a income statement, Cashflow statement and balance sheet statement with the given information
Chapter16: Statement Of Cash Flows
Section: Chapter Questions
Problem 1PB: Provide journal entries to record each of the following transactions. For each, also identify: *the...
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