During the month of October, current year, Weller Company had the following transactions. 1. Revenues of $14,400 were earned and received in cash. 2. Bank loans of $3,600 were paid off. 3. Equipment of $3,000 was purchased for cash. 4. Expenses of $9,120 were paid. 5. Additional shares of capital stock were sold for $9,000 cash. Assuming that the cash
Chapter 2, Exercises #11
During the month of October, current year, Weller Company had the following transactions.
1. Revenues of $14,400 were earned and received in cash.
2. Bank loans of $3,600 were paid off.
3. Equipment of $3,000 was purchased for cash.
4. Expenses of $9,120 were paid.
5. Additional shares of capital stock were sold for $9,000 cash.
Assuming that the cash balance at the beginning of the month was $8,940, prepare a statement of cash flows that displays operating, investing, and financing activities and that reconciles the beginning and ending cash balances.
1. Revenues of $14,400 were earned and received in cash.
2. Bank loans of $3,600 were paid off.
3. Equipment of $3,000 was purchased for cash.
4. Expenses of $9,120 were paid.
5. Additional shares of capital stock were sold for $9,000 cash.
Assuming that the cash balance at the beginning of the month was $8,940, prepare a statement of cash flows that displays operating, investing, and financing activities and that reconciles the beginning and ending cash balances.
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WELLER COMPANY Statement of Cash Flows For the Month Ended October 31, Curre…View the full answer
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Financial and Managerial Accounting the basis for business decisions
18th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
ISBN: 978-1259692406