[The following information applies to the questions displayed below.] Following are the transactions of a new company called Pose-for-Pics. August 1 M. Harris, the owner, invested $7,500 cash and $32,250 of photography equipment in the company. August 2 The company paid $2,400 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $1,425 cash. August 20 The company received $3,050 cash from taking photos for customers. August 31 The company paid $868 cash for August utilities. Open a ledger account for Cash in balance column format. Post general journal entries that impact cash from above transactions to the edger account for cash.

[The following information applies to the questions displayed below.] Following are the transactions of a new company called Pose-for-Pics. August 1 M. Harris, the owner, invested $7,500 cash and $32,250 of photography equipment in the company. August 2 The company paid $2,400 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $1,425 cash. August 20 The company received $3,050 cash from taking photos for customers. August 31 The company paid $868 cash for August utilities. Open a ledger account for Cash in balance column format. Post general journal entries that impact cash from above transactions to the edger account for cash.

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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[The following information applies to the questions displayed below.]Following are the transactions of a new company called Pose-for-Pics. August 1 M. Harris, the owner, invested $5,750 cash and $24,725 of photography equipment in the company in exchange for common stock. August 2 The company paid $3,200 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $1,093 cash. August 20 The company received $3,900 cash from taking photos for customers. August 31 The company paid $878 cash for August utilities. Open a ledger account for Cash in balance column format. Post general journal entries that impact cash from above transactions to the ledger account for cash.
Husky Company has provided the following information for its most recent year of operation: Cash collected from customers totaled $90,000. Cash borrowed from banks totaled $33,100. Cash paid to employees for salaries totaled $32,800. Cash received from selling Husky common stock to stockholders totaled $48,000. Cash payments to banks for repayment of money borrowed totaled $8,200. Cash paid to suppliers totaled $8,600. Land costing $26,000 was sold for $26,000 cash. Cash paid for dividends to stockholders totaled $4,000. How much was Husky's cash flow from operating activities?