Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Acquired $30,000 cash from the issue of common stock. 2. Borrowed $40,000 cash from National Bank. 3. Earned cash revenues of $48,000 for performing services. 4. Paid cash expenses of $45,000. 5. Paid a $1,000 cash dividend to the stockholders. 6. Acquired an additional $20,000 cash from the issue of common stock. 7. Paid $10,000 cash to reduce the principal balance of the bank note. 8. Paid $53,000 cash to purchase land. 9. Determined that the market value of the land is $75,000. Determine the net cash flows from operating activities, investing activitie ancing activities that Maben would report on the Year 1 statement of cas ote: Enter cash outflows as negative amounts.
Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Acquired $30,000 cash from the issue of common stock. 2. Borrowed $40,000 cash from National Bank. 3. Earned cash revenues of $48,000 for performing services. 4. Paid cash expenses of $45,000. 5. Paid a $1,000 cash dividend to the stockholders. 6. Acquired an additional $20,000 cash from the issue of common stock. 7. Paid $10,000 cash to reduce the principal balance of the bank note. 8. Paid $53,000 cash to purchase land. 9. Determined that the market value of the land is $75,000. Determine the net cash flows from operating activities, investing activitie ancing activities that Maben would report on the Year 1 statement of cas ote: Enter cash outflows as negative amounts.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Maben Company was started on January 1, Year 1, and experienced
the following events during its first year of operation:
1. Acquired $30,000 cash from the issue of common stock.
2. Borrowed $40,000 cash from National Bank.
3. Earned cash revenues of $48,000 for performing services.
4. Paid cash expenses of $45,000.
5. Paid a $1,000 cash dividend to the stockholders.
6. Acquired an additional $20,000 cash from the issue of common
stock.
7. Paid $10,000 cash to reduce the principal balance of the bank
note.
8. Paid $53,000 cash to purchase land.
9. Determined that the market value of the land is $75,000.
e. Determine the net cash flows from operating activities, investing activities, and
financing activities that Maben would report on the Year 1 statement of cash flows.
Note: Enter cash outflows as negative amounts.
Net cash flows from operating activities
Net cash flows from investing activities
Net cash flows from financing activities](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fba78d3aa-d292-4f2c-9eb0-0e0844e8193a%2Ffef9849a-c3d1-4785-af59-556b39e99c54%2Fu0n9upm_processed.png&w=3840&q=75)
Transcribed Image Text:Maben Company was started on January 1, Year 1, and experienced
the following events during its first year of operation:
1. Acquired $30,000 cash from the issue of common stock.
2. Borrowed $40,000 cash from National Bank.
3. Earned cash revenues of $48,000 for performing services.
4. Paid cash expenses of $45,000.
5. Paid a $1,000 cash dividend to the stockholders.
6. Acquired an additional $20,000 cash from the issue of common
stock.
7. Paid $10,000 cash to reduce the principal balance of the bank
note.
8. Paid $53,000 cash to purchase land.
9. Determined that the market value of the land is $75,000.
e. Determine the net cash flows from operating activities, investing activities, and
financing activities that Maben would report on the Year 1 statement of cash flows.
Note: Enter cash outflows as negative amounts.
Net cash flows from operating activities
Net cash flows from investing activities
Net cash flows from financing activities
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