Calculate the net cash flow from financing activities for 2008. The following selected account balances were taken from Buckeye Company's general ledger at January 1, 2008, and December 31, 2008: January 1, 2008 December 31, 2008 Inventory 59,000 41,000 Accounts payable 52,000 71,000 Mortgage payable 120,000 95,000 Salaries payable 9,000 3,000 Investments 75,000 68,000 Accounts receivable 63,000 96,000 Land 58,000 88,000 Common stock 100,000 180,000 Retained earnings 22,000 34,000 The following information was taken from Buckeye Company's 2008 income statement: Sales Revenue $420,000 Cost of goods sold 300,000 Salaries expense 88,000 Loss on sale of investments 6,000 Net income $26,000
Calculate the net cash flow from financing activities for 2008. The following selected account balances were taken from Buckeye Company's general ledger at January 1, 2008, and December 31, 2008: January 1, 2008 December 31, 2008 Inventory 59,000 41,000 Accounts payable 52,000 71,000 Mortgage payable 120,000 95,000 Salaries payable 9,000 3,000 Investments 75,000 68,000 Accounts receivable 63,000 96,000 Land 58,000 88,000 Common stock 100,000 180,000 Retained earnings 22,000 34,000 The following information was taken from Buckeye Company's 2008 income statement: Sales Revenue $420,000 Cost of goods sold 300,000 Salaries expense 88,000 Loss on sale of investments 6,000 Net income $26,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Calculate the net cash flow from financing activities for 2008.
The following selected account balances were taken from Buckeye Company's general ledger at January 1, 2008, and December 31, 2008:
January 1, 2008 December 31, 2008
Inventory 59,000 41,000
Accounts payable 52,000 71,000
Mortgage payable 120,000 95,000
Salaries payable 9,000 3,000
Investments 75,000 68,000
Accounts receivable 63,000 96,000
Land 58,000 88,000
Common stock 100,000 180,000
The following information was taken from Buckeye Company's 2008 income statement:
Sales Revenue $420,000
Cost of goods sold 300,000
Salaries expense 88,000
Loss on sale of investments 6,000
Net income $26,000
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