Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help finding the net cash inflows for the year and beginning cash balance IlIlIcase ill alcuuis leolvavic (U, JUU Decrease in inventory Decrease in

image text in transcribedimage text in transcribedNeed help finding the net cash inflows for the year and beginning cash balance

IlIlIcase ill alcuuis leolvavic (U, JUU Decrease in inventory Decrease in accounts payable 1,700 (3,600) $ 24,600 Cash flows from operating activities From investing activities Purchased delivery truck Purchased land (9,900) (36,000) (45,900) Cash flows from investing activities From financing activities Borrowed cash on three-year note Issued stock for cash 34,000 28,000 62,000 Cash flows from financing activities Net cash inflows for the year Beginning cash balance Ending cash balance 0 Avalos Corporation is preparing its annual financial statements at December 31 of the current year. Listed here are the items on its statement of cash flows presented in alphabetical order. Parentheses indicate that a listed amount should be subtracted on the cash flow statement. The beginning balance in cash was $30,000 and the ending balance was $70,700. Cash borrowed on three-year note Decrease in accounts payable Decrease in inventory Increase in accounts receivable Land purchased Net income New delivery truck purchased for cash Stock issued for cash $ 34,000 (3,600) 1,700 (6,500) (36,000) 33,000 (9,900) 28,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Using QuickBooks Accountant 2018 For Accounting

Authors: Glenn Owen

16th Edition

9780357042083

Students also viewed these Accounting questions