Assume you have access to the ledger (specifically the detail of the cash account) for New Company,

Question:

Assume you have access to the ledger (specifically the detail of the cash account) for New Company, represented by the following T-account.

\begin{tabular}{lr|lr}

\hline \multicolumn{4}{c}{ Cash } \\

\hline Beg. Bal. & 11,500 & $(2)$ & 75,000 \\

(1) & 150,000 & $(3)$ & 60,000 \\

(4) & 6,000 & $(5)$ & 5,500 \\

(6) & 30,000 & $(7)$ & 25,000 \\

(8) & 12,000 & $(9)$ & 15,000 \\

\hline End. Bal. & 29,000 & &

\end{tabular}


The transactions that are represented by posting entries (1) through (9) in the cash account are as follows:
1. Collections on account 2. Payments for wages and salaries 3. Payments for inventory 4. Proceeds from sale of equipment 5. Payments of dividends 6. Proceeds from new bank loan 7. Payments for other cash operating expenses 8. Proceeds from sale of nontrading securities 9. Payments for taxes From these data, prepare a statement of cash flows for New Company for the year ended December 31, 1999 .

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Survey Of Accounting

ISBN: 9780538846172

1st Edition

Authors: James D. Stice, W. Steve Albrecht, Earl Kay Stice, K. Fred Skousen

Question Posted: