Question
Checkmates? Games, Inc, started business on April? 1, 2011, with? $7,500 cash contribution from its owners in exchange for common stock. The company used? $2,225
Checkmates? Games, Inc, started business on April? 1, 2011, with? $7,500 cash contribution from its owners in exchange for common stock. The company used? $2,225 of the cash for equipment for the new shop and? $2,750 on games for its inventory. During the? month, the company earned? $4,275 of revenue in cash from the sale of the entire inventory. On April? 30, 2011 the owners then spent? $3,000 cash on more games for the inventory. What amounts would Checkmate Games show on its statement of cash flows for the month of April? 30, 2011? Classify each as an? operating, investing, or financing cash flow.
Enter the amount for each? transaction, then determine whether it is an? operating, investing, or financing cash flow.
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