Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mary Jane started her own service company. She invested 3,000,000 cash to open the business and has purchased building worth 2,000,000 and office furniture worth

Mary Jane started her own service company. She invested 3,000,000 cash to open the business and has purchased building worth 2,000,000 and office furniture worth 100,000. During the year, 950,000 revenues were earned, 300,000 of which were on account. Salaries paid to employees amounted to 205,000, bonus given to the owner, Mary, amounted to 30,000, equipment rent payment is 100,000, and utilities paid amounted to 50,000. Receivables collected amounted to 200,000. Billie invested additional 110,000 for a additional funding. At the time when the carrying value of the furniture was 90,000, Ed sold it for 75,000 cash. 1. How much is the entity's cash flow from operating activities?. 2. How much is the entity's cash flow from investing activities?. 3. How much is the entity's cash flow from financing activities?. 4. How much is the cash balance at the end of the year?. Do not use comma in writing your answers on the blank provided

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

List out some inventory management techniques.

Answered: 1 week ago