Question
Washington Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $40,000
Washington Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions:
1) issued stock for $40,000 cash
2) borrowed $25,000 cash from its bank
3) provided consulting services for $39,000 cash
4) purchased $2000 of advertising on account
5) paid cash rent expense for $9,000
6) purchased permanent heavy equipment for $12,000 cash
7) paid $3,000 cash dividends to stockholders
8) paid employees' salaries of $21,000 cash
What is Washington's net cash flow from operating activitiesfor Year 1?
Nilsson Company experienced the following transactions during Year 1, its first year in operation.
1. Issued $6,000 of common stock to stockholders.
2. Provided $4,600 of services on account.
3. Paid $3,200 cash for operating expenses.
4. Collected $3,800 of cash from accounts receivable.
5. Paid a $2000 cash dividend to stockholders.
The amount of net cash flow from financing activities shown on Nilsson Company's Year 1 statement of cash flows is
Group of answer choices
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