Week 10 class 1

Week 10 class 1 - Week 10 class 1 (20-30 min.) Req. 1 E...

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Week 10 class 1 (20-30 min.) E 12-13 Req. 1 Echo Lawn Equipment Corp. Cash Flow Statement For the Year Ended October 31, 2007 Cash flows from operating activities: Receipts: Collections from customers ($264,000 + $20,000). ............................................ $ 284,000 Dividends received on investments in shares 9,000 Total cash receipts. .............................................. 293,000 Payments: To suppliers ($119,000 + $13,000 + $2,000). ........... $(134,000) To employees ($52,000 + $3,000). ............................ (55,000) For income tax. .......................................................... (10,000) For interest. ................................................................ (2,500 ) Total cash payments. ........................................... (201,500 ) Net cash provided by operating activities. ............. 91,500 Cash flows from investing activities: Acquisition of capital assets. ........................................ $(116,000) Proceeds from sale of land. .......................................... 32,000 Net cash used for investing activities. .................... (84,000)) Cash flows from financing activities: Proceeds from issuance of common shares. .............. $ 40,000 Payment of long-term note payable. ............................ (20,000) Payments of dividends. ................................................. (15,000 ) Net cash provided by financing activities. ............. 5,000 Net increase in cash. ........................................................... $ 12,500 Cash balance, October 31, 2006. ....................................... 30,000
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This note was uploaded on 10/18/2010 for the course ACF ACC220 taught by Professor Fiona during the Spring '08 term at Seneca.

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Week 10 class 1 - Week 10 class 1 (20-30 min.) Req. 1 E...

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