Chuzzle Company used the direct method to prepare the statement of cash flows. The entity had the following cash flows during the current year: Cash receipts from issuance of ordinary shares Cash receipts from customers Cash receipts from dividends on long-term investments Cash receipts from repayment of loan made to another entity Cash payments for wages and other operating expenses Cash payments for insurance Cash payment for dividends Cash payments for taxes Cash payment to purchase land Cash balance - beginning 4,000,000 2,000,000 300,000 2,200,000 1,200,000 100,000 200,000 400,000 800,000 3,500,000

Chuzzle Company used the direct method to prepare the statement of cash flows. The entity had the following cash flows during the current year: Cash receipts from issuance of ordinary shares Cash receipts from customers Cash receipts from dividends on long-term investments Cash receipts from repayment of loan made to another entity Cash payments for wages and other operating expenses Cash payments for insurance Cash payment for dividends Cash payments for taxes Cash payment to purchase land Cash balance - beginning 4,000,000 2,000,000 300,000 2,200,000 1,200,000 100,000 200,000 400,000 800,000 3,500,000

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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