Background Information:
a) Donald Duck and Friends started their company when they issued 3,000 shares of $8 par value stock on January 1,2018
b) The stock issued at a market price of $13 per share
c) During the year, Donald Duck and Friends had revenue of $43,000
d) Donald Duck and Friends paid cash for $18,000 in expenses
e) Donald Duck and Friends paid a cash Dividend of $25,000
Homework Answers
|
Donald and Friends Statement of Cash Flow As of December 31, 2018 |
||
| Cash flow from operating activities: | ||
| Cash receipt for revenue | $43,000 | |
| Paid for expenses | (18,000) | |
| Net cash flow from operating activities | $25,000 | |
| Cash flow from investing activities | 0 | |
| Cash flow from financing activities: | ||
| Proceeds from issue of stock (3,000*$13) | $39,000 | |
| Paid for dividends | (25,000) | |
| Net cash flow from financing activities | 14,000 | |
| Net change in cash | $39,000 | |
| Plus: Beginning cash balance | 0 | |
| Ending cash balance | $39,000 | |
Add Answer to:
Background Information:
a) Donald Duck and Friends started their company when they
issued 3,000 shares of...
Background Information: a) Donald Duck and Friends started their company when they issued 3,000 shares of...
Background Information: a) Donald Duck and Friends started their
company when they issued 3,000 shares of $8 par value stock on
January 1,2018
b) The stock issued at a market price of $13 per share
c) During the year, Donald Duck and Friends had revenue of
$43,000
d) Donald Duck and Friends paid cash for $18,000 in expenses
e) Donald Duck and Friends paid a cash Dividend of $25,000
A B F G H I J C D E Donald...
Background Information: a) Donald Duck and Friends started their company when they issued 3,000 shares of...
Background Information:
a) Donald Duck and Friends started their company when they
issued 3,000 shares of $8 par value stock on January 1,2018
b) The stock issued at a market price of $13 per share
c) During the year, Donald Duck and Friends had revenue of
$43,000
d) Donald Duck and Friends paid cash for $18,000 in expenses
e) Donald Duck and Friends paid a cash Dividend of $25,000
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Background Information: a) Donald Duck and Friends started their
company when they issued 3,000 shares of $8 par value stock on
January 1,2018
b) The stock issued at a market price of $13 per share
c) During the year, Donald Duck and Friends had revenue of
$43,000
d) Donald Duck and Friends paid cash for $18,000 in expenses
e) Donald Duck and Friends paid a cash Dividend of $25,000
A B F G H I J C D E Donald...
Background Information:
a) Donald Duck and Friends started their company when they
issued 3,000 shares of $8 par value stock on January 1,2018
b) The stock issued at a market price of $13 per share
c) During the year, Donald Duck and Friends had revenue of
$43,000
d) Donald Duck and Friends paid cash for $18,000 in expenses
e) Donald Duck and Friends paid a cash Dividend of $25,000
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Astro Corporation was started with the issue of 5,100 shares of
$10 par stock for cash on January 1, 2018. The stock was issued at
a market price of $19 per share. During 2018, the company earned
$58,400 in cash revenues and paid $39,128 for cash expenses. Also,
a $3,900 cash dividend was paid to the stockholders. Required:
Prepare an income statement, statement of changes in stockholders’
equity, balance sheet, and statement of cash flows for Astro
Corporation’s 2018 fiscal...
The following transactions apply to Bobs Scuba Sales for
2018:
The business was started when the company received $48,500 from
the issue of common stock.
Purchased equipment inventory of $176,000 on the account.
Sold equipment for $202,500 cash (not including sales tax). A
sales tax of 7 percent is collected when the merchandise is sold.
The merchandise had a cost of $127,500.
Provided a six-month warranty on the equipment sold. Based on
industry estimates, the warranty claims would amount to...
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Can anyone help me? Help me
understand
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