2.2

A.

B.what amount of revenue will lee report on the year one income statment?

C.what amount of cash flow from revenue will be reported on the statment of cash flows?

D. What is the net income for the period?

E. What is the net cash flow from operating activities for the period?

F.what is the amount of net cash flow from investing activities?

G. What is the amount of net cash flow from financing activities?

H. What amounts of total assets, liabilities, and equity will be reported on the year end balance sheet?

In Year 1, Lee Inc. billed its customers $62,000 for services performe incurred $39,000 the issue of common stock and invested $21,000 cash in the purchase of land. d. The company collected $51,000 of the amount billed. Lee of other operating expenses on account, and paid $31,000 of the accounts payable. It ac quired $40,000 cash from (Hint: Identify the six events described in the paragraph and record them in general ledger accounts under an before attempting to answer the questions.) Use the preceding information to answer the following questions: (Enter any decreases to account balances with a minus sign.) Retained Cash Land 4. Paid 1 of 4 Next >