LT Assignment week 5 upload - George Winston Company...

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George Winston Company Statement of Cash Flows For Year Ending May 31, 2008 Cash flows from operating activities Cash received from customers Cash Paid $1,233,250 To supplies $674,000 For other expenses $10,150 To employees $276,850 For interest $73,000 For income taxes $43,000 $1,077,000 Net cash provided by operating activities $156,250 Cash flows from investing activities Purchase of plant assets ($48,000) Cash flows from financing activities Cash received from connon stock issue $40,000 Cash paid Land For dividends ($105,000) To retire bonds payable ($30,000) Net cash used by financing activitites ($95,000) Net increase in cash $13,250 Cash, June 1, 2007 $20,000 Cash, May 31, 2008 $33,250 Calculations Cash receipts from customers Sales $1,255,250 Less: Increase in accounts receivable $22,000 Cash receipts from customers $1,233,250 Cash payments to suppliers Cost of goods sold $722,000 Less: Decrease in merchandise inventory $40,000 Increase in accounts payable $8,000 Cash paid to suppliers
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LT Assignment week 5 upload - George Winston Company...

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