Zachary Corporation's December 31, 2018 balance sheet included the following amounts: Cash $ 20,400 Retained earnings 105,600

Question:

Zachary Corporation's December 31, 2018 balance sheet included the following amounts:

Cash $ 20,400

Retained earnings 105,600

Zachary's accountant provided the following data for 2019:

Revenues......... $650,100...... Cash inflow from operating activities...... $ 892,250

Expenses .........578,600........ Cash outflow for investing activities........ (990,300)

Dividends......... 30,000........ Cash inflow from financing activities........ 108,400

Required:

Calculate the amount of cash and retained earnings at the end of 2019?

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Cornerstones of Financial Accounting

ISBN: 978-1337690898

4th edition

Authors: Jay Rich, Jeff Jones

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Question Posted: Sep 21, 2024 05:14 AM

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Zachary Corporation's December 31, 2018 balance sheet included the following amounts: Cash $ 20,400 Retained earnings 105,600

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Cash at the end of the year Cash flow from operating activities 892250 Cash outflow fo...View the full answer

Cornerstones of Financial Accounting

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