C2: The current period statement of cash flows includes the following: Cash balance at the beginning of the period Net cash flow from operating activities Net cash flow used for investing activities Net cash flow used for financing activities The cash balance at the end of the period is $_ $310,000 185,000 43,000 97,000

C2: The current period statement of cash flows includes the following: Cash balance at the beginning of the period Net cash flow from operating activities Net cash flow used for investing activities Net cash flow used for financing activities The cash balance at the end of the period is $_ $310,000 185,000 43,000 97,000

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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Case 2-1 Maynard Company (A)* Diane Maynard made the following request of a friend: owned all the stock of Maynard Company. At the end of June, Diane Maynard paid herself an $11,700 divi- dend and used the money to repay her loan from the My bookkeeper has quit, and I need to see the balance sheets of my company. He has left behind a book with the numbers already entered in it. Would you be will- ing to prepare balance sheets for me? Also, any com- ments you care to make about the numbers would be appreciated. The Cash account is hcalthy, which is a good sign, and he has told me that the net inconse in June was S19,635. company. Questions The book contained a detailed record of transac- tions, and from it the friend was able to copy off the balanoes at the beginning of the month and at the end of the month as shown in Exhibit 1. Diane Maynard 3. Why do retained earnings not increase by the amount of June net income? 4. As of June 30, do you feel that Maynard Company is worth the amount…
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