Tiger Trade has the following cash transactions for the period. Accounts................................................................................Amounts Cash received from sale of products
Question:
Tiger Trade has the following cash transactions for the period.
Accounts................................................................................Amounts
Cash received from sale of products to customers.................................$ 35,000
Cash received from the bank for long-term loan......................................40,000
Cash paid to purchase factory equipment.............................................(45,000)
Cash paid to merchandise suppliers...................................................(11,000)
Cash received from the sale of an unused warehouse...............................12,000
Cash paid to workers...................................................................(23,000)
Cash paid for advertisement ............................................................(3,000)
Cash received for sale of services to customers .....................................25,000
Cash paid for dividends to stockholders............................................. (5,000)
Required:
1. Calculate the ending balance of cash, assuming the balance of cash at the beginning of the period is $4,000.
2. Prepare a statement of cash flows?
Step by Step Answer:
Financial Accounting
ISBN: 9780078110825
2nd Edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann