Question
Answer the following questions ? What were the company's cash flows for operating activities for January 2022? Use a positive number to indicate an overall
Answer the following questions ?
What were the company's cash flows for operating activities for January 2022? Use a positive number to indicate an overall (i.e. net) inflow or a negative number to indicate an overall outflow?
What were the company's cash flows for investing activities for January 2022? Use a positive number to indicate an overall (i.e. net) inflow or a negative number to indicate an overall outflow?
What were the company's cash flows for financing activities for January 2022? Use a positive number to indicate an overall (i.e. net) inflow or a negative number to indicate an overall outflow?
The Duluth Company was founded on January 1,2019 ; since then, the company has been fairly successful; however, in an effort to save some money, the president has been keeping track of the financial records rather than hiring a professional accountant. Although some data is missing, a comparative report of year-end account balances appears below; all numbers are as of December 31st unless noted otherwise. the missing values. During January of 2022 , the company had the following transactions: Jan. 1 Paid rent of $1,200 for the month Jan. 2 Purchased $300 of supplies on account Jan. 3 Purchased $2,800 of equipment Jan. 6 Sold services to customers for $8,200 on account Jan. 10 Paid $890 for advertising Jan. 14 Received $4,000 from customers on account Jan. 18 Paid utility bill of $630 for the month Jan. 24 Made a bank loan payment of $600 Jan. 26 Dividend of $1,200 is paid to owners Jan. 31 Paid employee payroll of $10,300 Jan. 31 Supplies still on hand were reported at $5,000 Prepare a tabular analysis for January, record the transactions and then prepare a statement of cash flows, income statement, statement of retained earnings and balance for the company
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started