Exercise 2 1 1 A ( Algo ) Net income versus changes in cash LO 2 2 , 2 3 , 2 4 Exercise 2 1 1 A ( Algo ) Net income versus changes in cash LO 2 2 , 2 3 , 2 4 In Year 1 , Lee Incorporated billed its customers $ 5 6 , 5 0 0 for services performed The company collected $ 4 1 , 9 0 0 of the amount billed Lee incurred $ 3 7 , 1 0 0 of other operating expenses on account, and paid $ 2 3 , 1 0 0 of the accounts payable It acquired $ 2 2 , 0 0 0 cash from the issue of common stock and invested $ 1 5 , 0 0 0 cash in the purchase of land Required ( Hint Identify the six events described in the paragraph and record them in accounts under an accounting equation before attempting to answer the questions ) Use the preceding information to answer the following questions a What amount of revenue will Lee report on the Year 1 income statement b What amount of cash flow from revenue will be reported on the statement of cash flows c What is the net income for the period d What is the net cash flow from operating activities for the period f What is the amount of net cash flow from investing activities g What is the amount of net cash flow from financing activities h What amounts of total assets, liabilities, and stockholders' equity will be reported on the year end balance sheet Complete this question by entering your answers in the tabs below Accounting Equation Req A to D Req F to H f What is the amount of net cash flow from investing activities Note Enter cash outflows as negative amounts g What is the amount of net cash flow from financing activities Note Enter cash outflows as negative amounts h What amounts of total assets, liabilities, and stockholders' equity will be reported on the year end balance sheet In Year 1 , Lee Incorporated billed its customers $ 5 6 , 5 0 0 for services performed The company collected $ 4 1 , 9 0 0 of the amount billed Lee incurred $ 3 7 , 1 0 0 of other operating expenses on account, and paid $ 2 3 , 1 0 0 of the accounts payable It acquired $ 2 2 , 0 0 0 cash from the issue of common stock and invested $ 1 5 , 0 0 0 cash in the purchase of land Required ( Hint Identify the six events described in the paragraph and record them in accounts under an accounting equation before attempting to answer the questions ) Use the preceding information to answer the following questions a What amount of revenue will Lee report on the Year 1 income statement b What amount of cash flow from revenue will be reported on the statement of cash flows c What is the net income for the period d What is the net cash flow from operating activities for the period f What is the amount of net cash flow from investing activities g What is the amount of net cash flow from financing activities h What amounts of total assets, liabilities, and stockholders' equity will be reported on the year end balance sheet Show all images Show all images Show all images done loading

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Exercise 2   1 1 A ( Algo ) Net income versus changes in cash LO 2   2 , 2   3 , 2   4 Exercise 2   1 1 A ( Algo ) Net income versus changes in cash LO 2   2 , 2   3 , 2   4 In Year 1 , Lee Incorporated billed its customers $ 5 6 , 5 0 0 for services performed  The company collected $ 4 1 , 9 0 0 of the amount billed  Lee incurred $ 3 7 , 1 0 0 of other operating expenses on account, and paid $ 2 3 , 1 0 0 of the accounts payable  It acquired $ 2 2 , 0 0 0 cash from the issue of common stock and invested $ 1 5 , 0 0 0 cash in the purchase of land  Required  ( Hint  Identify the six events described in the paragraph and record them in accounts under an accounting equation before attempting to answer the questions  ) Use the preceding information to answer the following questions  a   What amount of revenue will Lee report on the Year 1 income statement  b   What amount of cash flow from revenue will be reported on the statement of cash flows  c   What is the net income for the period  d   What is the net cash flow from operating activities for the period  f   What is the amount of net cash flow from investing activities  g   What is the amount of net cash flow from financing activities  h   What amounts of total assets, liabilities, and stockholders' equity will be reported on the year   end balance sheet Complete this question by entering your answers in the tabs below  Accounting Equation Req A to D Req F to H f   What is the amount of net cash flow from investing activities  Note  Enter cash outflows as negative amounts  g   What is the amount of net cash flow from financing activities  Note  Enter cash outflows as negative amounts  h   What amounts of total assets, liabilities, and stockholders' equity will be reported on the year   end balance sheet  In Year 1 , Lee Incorporated billed its customers $ 5 6 , 5 0 0 for services performed  The company collected $ 4 1 , 9 0 0 of the amount billed  Lee incurred $ 3 7 , 1 0 0 of other operating expenses on account, and paid $ 2 3 , 1 0 0 of the accounts payable  It acquired $ 2 2 , 0 0 0 cash from the issue of common stock and invested $ 1 5 , 0 0 0 cash in the purchase of land  Required  ( Hint  Identify the six events described in the paragraph and record them in accounts under an accounting equation before attempting to answer the questions  ) Use the preceding information to answer the following questions  a   What amount of revenue will Lee report on the Year 1 income statement  b   What amount of cash flow from revenue will be reported on the statement of cash flows  c   What is the net income for the period  d   What is the net cash flow from operating activities for the period  f   What is the amount of net cash flow from investing activities  g   What is the amount of net cash flow from financing activities  h   What amounts of total assets, liabilities, and stockholders' equity will be reported on the year   end balance sheet  Show all images Show all images Show all images done loading

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Question: Exercise 2 - 1 1 A ( Algo ) Net income versus changes in cash LO 2 - 2 , 2 - 3 , 2

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