a & c)
Event | Revenue | Expense | Statement of Cash Flows | |
1. | $56000 | FA | ||
2. | $78000 | |||
3. | -5600 | FA | ||
4. | 62000 | OA | ||
5. | -56000 | -56000 | OA | |
6. | 18500 | 18500 | OA | |
7. | -2600 |
b) Revenue= $78000+18500= $96500
Expenses= $56000+2600= $58600
Net income= Revenue-Expenses
= $96500-58600= $37900
d) Cash received from revenue= $62000+18500= $80500
Net cash flow from operating activities= Cash received from revenue-Cash paid for expenses
= $80500-56000= $24500
e) Balance of Retained earnings= Net income-Dividends
= $37900-5600= $32300
Help please Cordell Inc, experienced the following events in Year 1, its first year of operation:...
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