The following is a list of various activities from Geiersbach Grains latest year of operations. Sale of
Question:
The following is a list of various activities from Geiersbach Grain’s latest year of operations.
Sale of marketable securities.......... $ 15,130
Repayment of long-term debt.......... 19,215
Payment of cash dividends............ 500
Sale of equipment.............. 20,600
Collections from customers .......... 130,940
Payments for operating costs............ 27,400
Net income................. 37,520
Beginning Cash balance............ 13,645
Payments for equipment............ 23,670
Payments to suppliers.............. 36,990
Proceeds from issuing common stock ......... 1,450
Payments to employees.............. 36,480
Payments for taxes............... 11,200
Ending Cash balance............... 26,310
Required
Using the direct method, construct Geiersbach Grains’ statement of cash flows.
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
Step by Step Answer:
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