DAKOTA COMPANY | ||
Statement of Cash flows | ||
For the Year Ended December 31, 2018 | ||
Cash flows from operating activities | ||
Cash received from customers | $ 60,000 | |
Cash paid for utilities expense | $ (2,000) | |
Cash paid for other operating expenses | $ (40,000) | |
Net cash cash flow from operating activities | $ 18,000 | |
Cash flows from investing activities | ||
Cash paid to purchase of fixed assets | $ (20,000) | |
Net cash flow used by investing activities | $ (20,000) | |
Cash flows from financing activities | ||
Cash paid for dividends | $ (5,000) | |
Cash received from borrowings | $ 20,000 | |
Cash received from issuance of common stock | $ 25,000 | |
Net cash flow from financing activities | $ 40,000 | |
Change in cash | $ 38,000 | |
Cash and at beginning of period | $ - | |
Cash and at end of period | $ 38,000 |
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Dakota Company experienced the following events during 2018: 1. Acquired $25,000 cash from the issue of...
Dakota Company experienced the following events during 2018: 1. Acquired $25,000 cash from the issue of common stock. 2. Paid $20,000 cash to purchase land. 3. Borrowed $20,000 cash. 4. Provided services for $60,000 cash. 5. Paid $2,000 cash for utilities expense. 6. Paid $40,000 cash for other operating expenses. 7. Paid a $5,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $25,000. Required a. The January 1,...
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