Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Your Corporation started a consulting business on January 1, 2019 by issuing $7,000 of common stock. What was net cash flow from operating activities?

image text in transcribed

Your Corporation started a consulting business on January 1, 2019 by issuing $7,000 of common stock. What was net cash flow from operating activities? Provided services on account, $25,000. Incurred $11,000 of operating expense on account. Purchased $7,000 of supplies. Paid $4,000 of its accounts payable. Collected $12,000 of the revenue that was previously recorded on account. Performed $9,000 of work for cash. Recognized $2,000 of supplies expense. Paid a cash dividend of $4,000 to the stockholders. $ 7,000 $10,000 $13,000 $ 8,000 $ 9,000

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

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

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

16th edition

1118742974, 978-1118743201, 1118743202, 978-1118742976

More Books

Students also viewed these Accounting questions

Question

virtualization benefits are everything except

Answered: 1 week ago