Juarez Equipment, Inc., assembled the following data related to its cash transactions for the year ended June
Question:
Juarez Equipment, Inc., assembled the following data related to its cash transactions for the year ended June 30, 2016:
Payment of dividends ....................................................... $ 16,000
Proceeds from issuance of stock ............................................. 21,000
Collections from customers .................................................. 213,000
Proceeds from sale of land ..................................................... 61,000
Payments to suppliers .......................................................... 92,000
Purchase of equipment with cash ............................................. 38,000
Payments to employees ....................................................... 67,000
Payment of long-term note payable ........................................... 41,000
Prepare Juarez Equipment's statement of cash flows for the year ended June 30, 2016, using the direct method. Juarez Equipment's cash balance at June 30, 2015, was $23,000?
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