whats the paid for expenses? Please complete answer Required informationSMITH TRAINING COMPANY4Statement of Cash FlowsFor the Year Ended December 31, Year 1Cash flow from operating activities:Received from customers36,600 OPaid for expenses53,900 80:15Net cash flow from operating activities90,500Cash flow from investing activities,Cash flows from financing activities:Received from stock issue53,000Net cash flow from financing activities53,000Net change in cash143,500Plus: Beginning cash balanceEnding cash balance143,500< PrevNext >4of 8Fook AirF11F10 Required information[The following information applies to the questions displayed below.)The following transactions pertain to Smith Training Company for Year1:30 Established the business when it acquired $53,000 cashfrom the issue of common stock.1 Paid rent for office space for two years, $16,500cash.Jan.Feb.Apr. 10 Purchased $900 of supplies on account.1 Received $25,000 cash in advance for services to beprovided over the next year.July20 Paid $675 of the accounts payable from April 18.15 Billed a customer $9,600 for services provided duringAug.August.15 Completed a jb and received $2,800 cash for servicesSept.rendered.1 Paid employee salaries of $36,500 cash.15 Received $8,800 cash from accounts receivable.16 Billed customers $31,500 for services rendered onaccount.Oct.Nov.1 Paid a dividend of $1,500 cash to the stockholders.31 Adjusted records to recognize the services provided onthe contract of July 1.31 Recorded $2,250 of accrued salaries as of December 31.31 Recorded the rent expense for the year. (See February1.)Dec.31 Physically counted supplies; $150 was on hand at theend of the period.A DronarA an income etatomont etatomont of channee in etnckholdere onuitu hals< Prevof 8Next >4GAir

Cash flow statement is a statement which is prepared to find out the cash comes in and goes out , by…

SMITH TRAINING COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flow from operating activities: Received from customers 36,600 Paid for expenses 53,900 Net cash flow from operating activities 90,500 Cash flow from investing activities Cash flows from financing activities: Received from stock issue 53,000 Net cash flow from financing activities 53,000 143,500 Net change in cash Plus: Beginning cash balance Ending cash balance 143,500 %24 %24 %24

SMITH TRAINING COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flow from operating activities: Received from customers 36,600 Paid for expenses 53,900 Net cash flow from operating activities 90,500 Cash flow from investing activities Cash flows from financing activities: Received from stock issue 53,000 Net cash flow from financing activities 53,000 143,500 Net change in cash Plus: Beginning cash balance Ending cash balance 143,500 %24 %24 %24

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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