Homework Answers
Cash flow from revenue include cash received from ordinary course of business either service is performed or not. But if Cash is received that is include in Cash flow from revenue.
Cash flow from revenue = Cash received for service = 82000
So answer is b) $82000
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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...
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 520000 $18,000 $48.000 $20.000 $30.000 question #47 in...
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....
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
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10 In Year 1, Lee Inc. billed its customers $57,400 for services performed. The company collected...
10 In Year 1, Lee Inc. billed its customers $57,400 for services performed. The company collected $41,200 of the amount billed. Lee incurred $36,700 of other operating expenses on account. Lee paid $24,000 of the accounts payable. Lee acquired $27,000 cash from the issue of common stock. The company invested $12,000 cash in the purchase of land. Required (Hint: Identify the six events described in the paragraph and record them in general ledger accounts under an accounting equation before attempting...
In Year 1 Lee Inc billed its customers $56.200 for services performed. The company collected $40.700...
In Year 1 Lee Inc billed its customers $56.200 for services performed. The company collected $40.700 of the amount billed. Lee incurred $36.900 of other operating expenses on account. Lee paid $24.500 of the accounts payable Lee acquired $23,000 cash from the issue of common stock. The company invested $18,000 cash in the purchase of land. Required (Hint: Identify the six events described in the paragraph and record them in general ledger accounts under an accounting equation before attempting to...
In Year 1, Lee Inc. billed its customers $56,300 for services performed. The company collected $40,400...
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In Year 1. Lee Inc. billed its customers $62,000 for services performed. The company collected $51,000...
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On October 1, 2011, Santana Rey launched a computer services company, Business Solutions, that is organized...
On October 1, 2011, Santana Rey launched a computer services
company, Business Solutions, that is organized as a corporation and
provides consulting services, computer system installations, and
custom program development. Rey adopts the calendar year for
reporting purposes and expects to prepare the company's first set
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Oct.
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S. Rey invested $54,000 cash, a $23,000 computer system, and
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The...
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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 520000 $18,000 $48.000 $20.000 $30.000 question #47 in...
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
cash LU 2-3 In Year 1. Lee Inc. billed its customers $56,200 for services performed. The company collected $40,700 of the amount billed Lee incurred $36.900 of other operating expenses on account Lee paid $24.500 of the accounts payable. Lee acquired $23,000 cash from the issue of common stock. The company invested $18,000 cash in the purchase of land Required (Hint Identify the six events described in the paragraph and record them in general ledger accounts under an accounting equation...
10 In Year 1, Lee Inc. billed its customers $57,400 for services performed. The company collected $41,200 of the amount billed. Lee incurred $36,700 of other operating expenses on account. Lee paid $24,000 of the accounts payable. Lee acquired $27,000 cash from the issue of common stock. The company invested $12,000 cash in the purchase of land. Required (Hint: Identify the six events described in the paragraph and record them in general ledger accounts under an accounting equation before attempting...
In Year 1 Lee Inc billed its customers $56.200 for services performed. The company collected $40.700 of the amount billed. Lee incurred $36.900 of other operating expenses on account. Lee paid $24.500 of the accounts payable Lee acquired $23,000 cash from the issue of common stock. The company invested $18,000 cash in the purchase of land. Required (Hint: Identify the six events described in the paragraph and record them in general ledger accounts under an accounting equation before attempting to...
In Year 1, Lee Inc. billed its customers $56,300 for services performed. The company collected $40,400 of the amount billed. Lee incurred $36,300 of other operating expenses on account. Lee paid $24,400 of the accounts payable. Lee acquired $23,000 cash from the issue of common stock. The company invested $19,000 cash in the purchase of land. Required (Hint: Identify the six events described in the paragraph and record them in general ledger accounts under an accounting equation before attempting to...
In Year 1. Lee Inc. billed its customers $62,000 for services performed. The company collected $51,000 of the amount billed. Lee incurred $39,000 of other operating expenses on account. Lee paid $31,000 of the accounts payable. Lee acquired $40,000 cash from the issue of common stock. The company invested $21,000 cash in the purchase of land. Required (Hint Identify the six events described in the paragraph and record them in general ledger accounts under an accounting equation before attempting to...
On October 1, 2011, Santana Rey launched a computer services
company, Business Solutions, that is organized as a corporation and
provides consulting services, computer system installations, and
custom program development. Rey adopts the calendar year for
reporting purposes and expects to prepare the company's first set
of financial statements on December 31, 2011.
Oct.
1
S. Rey invested $54,000 cash, a $23,000 computer system, and
$12,000 of office equipment in the company in exchange for its
common stock.
3
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