Uhura Health Spas began 2014 with cash of $104,000. During the year, Uhura earned service revenue of
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Uhura Health Spas began 2014 with cash of $104,000. During the year, Uhura earned service revenue of $600,000 and collected $590,000 from customers. Expenses for the year totalled $420,000, of which Uhura paid $410,000 in cash to suppliers and employees. Uhura also paid $140,000 to purchase equipment and paid a cash dividend of $50,000 to its shareholders during 2014. Prepare the company’s cash flow statement for the year ended December 31, 2014. Format cash flows from operating activities by the direct method.
DividendA dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Financial Accounting
ISBN: 978-0132889711
1st Canadian Edition
Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper
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