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At the end of 2011, retained earnings for the Bisk Company was $3,450. Revenue earned by the company in 2011 was $2,235, expe
Required information Cole Company began operations on January 1, 2011. During 2011, the company engaged in the following cash
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Answer #1

Question No. (1)

Answer -

Calculation of Retained Earnings at the Beginning of 2011

Particulars Explanation Amount ($)
I. Retained Earnings at the end of 2011 Given in question 3450
II. Revenue earned by the company in 2011 Given in question 2235
III. Expenses paid during the period Given in question 1105
IV. Dividends paid during the period Given in question 525
Retained Earnings at the Beginning of 2011 I - II + III + IV 2845

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Question No. (2)

Answer -

Calculation of Cole's Net Cash Flow from Operating Activities

Particulars Explanation Amount ($)
I. Sold merchandise Given in question 28500
II. Paid rent expense Given in question 3500
III. Paid employees' salaries Given in question 12000
Cole's Net Cash Flow from Operating Activities I - II - III 13000
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