Digman Co. had retained earnings of $400,000 and $50,000 in cash on January 1st. It made a
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Digman Co. had retained earnings of $400,000 and $50,000 in cash on January 1st. It made a net income of $300,000 in the year. Amortization/depreciation expense was $250,000. Digman Co. issued additional common shares for $500,000 and borrowed $600,000 from the Bank of Toyland. It bought new plant and equipment at a cost of $1,000,000 and sold some unused land for $400,000. Calculate what was the cash balance on December 31st ?
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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