Selected financial information follows for Maison Corporation for the year ended December 31, 2012: Cash, Jan. 1.................................................................................$
Question:
Selected financial information follows for Maison Corporation for the year ended December 31, 2012:
Cash, Jan. 1.................................................................................$ 12,000
Cash dividends paid.....................................................................10,000
Cash paid to purchase equipment.............................................35,000
Cash paid to suppliers................................................................120,000
Cash received from customers..................................................140,000
Cash received from issue of long-term debt.............................20,000
Cash received from issue of shares............................................20,000
Instructions
(a) Prepare a statement of cash flows for Maison Corporation for the year.
(b) Comment on the adequacy of cash provided by operating activities to fund the company's investing activities and dividend payments.
CorporationA Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Dividend
A 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...
Step by Step Answer:
a MAISON CORPORATION Statement of Cash Flows Year Ended December 31 2012 Operating activities Cash r...View the full answer
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118024492
5th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
