Tiger Trade has the following cash transactions for the period. Accounts Amounts Cash received from sale of

Question:

Tiger Trade has the following cash transactions for the period.
Accounts Amounts
Cash received from sale of products to customers ...... $ 40,000
Cash received from the bank for long- term loan ........ 45,000
Cash paid to purchase factory equipment ........... (50,000)
Cash paid to merchandise suppliers .............. (12,000)
Cash received from the sale of an unused warehouse ..... 13,000
Cash paid to workers ................... (24,000)
Cash paid for advertisement ................ (4,000)
Cash received for sale of services to customers ........ 30,000
Cash paid for dividends to stockholders ........... (6,000)

Required:
1. Calculate the ending balance of cash, assuming the balance of cash at the beginning of the period is $ 5,000.
2. Prepare a statement of cash flows.

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

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting

ISBN: 978-0078025549

3rd edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

Question Posted: