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In 2017 Verne company had a beginning cash balance of $2,500. Ending 2017 cash balance should be $120,700. Based on the following information for Verne
In 2017 Verne company had a beginning cash balance of $2,500. Ending 2017 cash balance should be $120,700. Based on the following information for Verne Company, please create a statement of cash flows using the direct method in Microsoft Excel:
- Paid a utility bill with $800 cash.
- Customers paid us a total of $50,000 cash.
- Issued stocks to raise a total of $105,000 cash.
- Paid back a note to Wells Fargo for $5,000 cash.
- Paid $6,000 cash for property taxes due.
- Purchased a new heavy drilling equipment for $35,000 cash.
- Sold a semi-truck for $10,000 cash.
*Please use the numbers below to check your statement of cash flows balances:
- Cash Provided by Operating Activities = $43,200
- Cash Used by Investing Activities = ($25,000)
- Cash Provided by Financing Activities = $100,000
- Net Increase of Cash = $118,200
- Beginning Cash Balance = $2,500
- Ending Cash Balance= $120,700
*****CAN YOU PLEASE PROVIDE the answer with all columns titled as debit or credit please****
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