Tiger Trade has the following cash transactions for the period. Accounts AmountsCash received from sale of products to customers $ 40,000Cash received from the bank for long-term loan 45,000Cash paid to purchase factory equipment (50,000)Cash paid to merchandise suppliers (12,000)Cash received from the sale of an unused warehouse 13,000Cash paid to workers (24,000)Cash paid for advertisement (4,000)Cash received for sale of services to customers 30,000Cash paid for dividends to stockholders (6,000)Required: 1. Calculate the ending balance of cash, assuming the balance of cash at the beginning of the period is $5,000. 2. Prepare a statement of cash flows.
Tiger Trade has the following cash transactions for the period.
Accounts Amounts
Cash received from sale of products to customers $ 40,000
Cash received from the bank for long-term loan 45,000
Cash paid to purchase factory equipment (50,000)
Cash paid to merchandise suppliers (12,000)
Cash received from the sale of an unused warehouse 13,000
Cash paid to workers (24,000)
Cash paid for advertisement (4,000)
Cash received for sale of services to customers 30,000
Cash paid for dividends to stockholders (6,000)
Required:
1. Calculate the ending balance of cash, assuming the balance of cash at the beginning of the period is $5,000.
2. Prepare a statement of
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