Homework Answers
| Statement of Cash Flows ( Direct Method) | ||
| For the Year Ended December 31 | ||
| Operating Activities: | ||
| Cash collected from customer | 380,000 | |
| Cash payment for expenses | -360,000 | |
| Net cash provided by operating activity | 20,000 | |
| Investing Activities: | ||
| Purchase of equipment | -60,000 | |
| Net cash used in investing activity | -60,000 | |
| Financing Activities: | ||
| Cash dividend paid | -24,000 | |
| Issue of note payable | 58,000 | |
| Net cash provided by financing activity | 34,000 | |
| Net increase in cash | -6,000 | |
| Beginning cash balance | 50,000 | |
| Ending cash balance | $44,000 | |
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