Solution to the First Question
The amount of cash flow from financing activities will be $30,000
-Here, the proceeds from the issue of common stock shall be classified under the cash flow from financing activities section amounting to $30,000
-The cash collected from the customers and payment of operating expenses are classified under the cash flow from operating activities section.
-The payment for the purchase of land shall be classified under the cash flows from financing activities.
“Hence, the amount of cash flow from financing activities = $30,000”
PLEASE BE NOTED (More than 1 Question)
In the period 2011. Lott Inc. performed services for $120,000 and billed its customers. The company...
in the period 2011, Lott Inc. performed services for $120,000 and billed its customers. The company subsequently collected $82,000 of the amount billed. Lott incurred $75,000 of operating expenses but paid cash for only $62,000 of that amount. Lott acquired $30,000 cash from the issue of common stock. The company invested $18,000 cash in the purchase of land. What is the amount of cash flow from financing activities? Multiple Choice $18.000 $48.000 $20.000
question #83 In the period 2011, Lott Inc. performed services for $120,000 and billed its customers. The company subsequently collected $82,000 of the amount billed! Lott incurred $75,000 of operating expenses but paid cash for only $62,000 of that amount Lott acquired $30,000 cash from the issue of common stock. The company invested $18,000 cash in the purchase of land. What is the amount of cash flow from investing activities? Multiple Choice o $48.000 $30,000
In the period 2011, Lott Inc. performed services for $120,000 and billed its customers. The company subsequently collected $82,000 of the amount billed. Lott incurred $75,000 of operating expenses but paid cash for only $62,000 of that amount Lott acquired $30,000 cash from the issue of common stock The company invested $18,000 cash in the purchase of land. What is the amount of cash flow from revenue that will appear on the statement of cash flows? Multiple Choice $120.000 $82.000...
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