Chapter 4 The Income Statement and Statement of Cash Flows37

Chapter 4 The Income Statement and Statement of Cash Flows37

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Exercise 4-19 (concluded) Requirement 2 Wainwright Corporation Statement of Cash Flows For the Month Ended March 31, 2011 Cash flows from operating activities: Collections from customers $ 55,000 Payment of rent (5,000) Payment of one-year insurance premium (6,000) Payment to suppliers of merchandise for sale (70,000 ) Net cash flows from operating activities $ (26,000) Cash flows from investing activities: Purchase of equipment (10,000 ) Net cash flows from investing activities
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Unformatted text preview: (10,000) Cash flows from financing activities: Issuance of common stock 300,000 Net cash flows from financing activities 300,000 Net increase in cash 264,000 Cash and cash equivalents, March 1 40,000 Cash and cash equivalents, March 31 $ 304,000 Noncash investing and financing activities: Acquired $40,000 of equipment by paying cash and issuing a note as follows: Cost of equipment $40,000 Cash paid 10,000 Note issued $30,000...
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This note was uploaded on 01/08/2011 for the course -2 20101 taught by Professor Georgesanchez during the Spring '10 term at USC.

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