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Thomason Financial has the following cash transactions for the year Assume cash at the beginning of the period is $6,000

Thomason Financial has the following cash transactions for the year. Assume cash at the beginning of the period is $6,000. Prepare a statement of cash flows.

 

 

Accounts

 

Amounts

 

Cash received for sale of services to customers

 

$42,000

 

Cash received from issuance of common stock

 

33,000

 

Cash paid to purchase office equipment

 

(49,000)

 

Cash paid to building maintenance

 

(7,000)

 

Cash paid for advertisement

 

(8,000)

 

Cash paid to workers

 

(18,000)

 

Cash paid for dividends to stockholders

 

(3,000)

 

Cash received from sale of land

 

7,000

 

Cash received from borrowing

 

14,000

 

 

 

163. Each of the following independent situations represents amounts shown on the four basic financial statements. Fill in the missing blanks using your knowledge of amounts that appear on the financial statements.

1. Revenues = $27,000; Expenses = $18,000; Net income = __________.

2. Increase in stockholders’ equity = $20,000; Issuance of common stock = $12,000; Dividends = $5,000; Net income = __________.

3. Assets = $25,000; Liabilities = $13,000; Stockholders’ equity = __________.

4. Total change in cash = +$28,000; Net operating cash flows = +$30,000; Net financing cash flows = +$18,000; Net investing cash flows = __________.

Jan 25 2020 View more View Less

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