Required information [The following information applies to the questions displayed below.] Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Acquired $31,000 cash from the issue of common stock. 2. Borrowed $43,000 cash from National Bank. 3. Earned cash revenues of $59,000 for performing services. 4. Paid cash expenses of $50,500. 5. Paid a $2,100 cash dividend to the stockholders. 6. Acquired an additional $31,000 cash from the issue of common stock. 7. Paid $11,000 cash to reduce the principal balance of the bank note. 8. Paid $50,000 cash to purchase land. 9. Determined that the market value of the land is $70,000. 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 Ad
Required information [The following information applies to the questions displayed below.] Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Acquired $31,000 cash from the issue of common stock. 2. Borrowed $43,000 cash from National Bank. 3. Earned cash revenues of $59,000 for performing services. 4. Paid cash expenses of $50,500. 5. Paid a $2,100 cash dividend to the stockholders. 6. Acquired an additional $31,000 cash from the issue of common stock. 7. Paid $11,000 cash to reduce the principal balance of the bank note. 8. Paid $50,000 cash to purchase land. 9. Determined that the market value of the land is $70,000. 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 Ad
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please do not give solution in image format thanku
![Required information
[The following information applies to the questions displayed below.]
Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation:
1. Acquired $31,000 cash from the issue of common stock.
2. Borrowed $43,000 cash from National Bank.
3. Earned cash revenues of $59,000 for performing services.
4. Paid cash expenses of $50,500.
5. Paid a $2,100 cash dividend to the stockholders.
6. Acquired an additional $31,000 cash from the issue of common stock.
7. Paid $11,000 cash to reduce the principal balance of the bank note.
8. Paid $50,000 cash to purchase land.
9. Determined that the market value of the land is $70,000.
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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Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation:
1. Acquired $31,000 cash from the issue of common stock.
2. Borrowed $43,000 cash from National Bank.
3. Earned cash revenues of $59,000 for performing services.
4. Paid cash expenses of $50,500.
5. Paid a $2,100 cash dividend to the stockholders.
6. Acquired an additional $31,000 cash from the issue of common stock.
7. Paid $11,000 cash to reduce the principal balance of the bank note.
8. Paid $50,000 cash to purchase land.
9. Determined that the market value of the land is $70,000.
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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