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Tiger Trade has the following cash transactions for the period Accounts A

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.

Apr 25 2020 View more View Less

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