Question
Answered step-by-stepAsked by djc62004 on coursehero.com
. Cougar Tree Services reports the following amounts on December...
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Cougar Tree Services reports the following amounts on December 31, 2024. Assets Liabilities and Stockholders' Equity
Cash $7,800 Accounts payable $10,000
Supplies 1,900 Salaries payable 3,600
Prepaid insurance 3,600 Notes payable 21,000
Building 73,000 Common stock 40,000
Retained earnings 11,700 In addition, the company reported the following cash flows. Cash Inflows Cash Outflows
Customers $62,000 Employee salaries $23,000
Borrow from the bank (note) 21,000 Supplies 5,000
Sale of investments 11,500 Dividends 7,000
Purchase building 64,000 Required: 1. Prepare a balance sheet.
2. Prepare a statement of cash flows.
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Balance Sheet Statement of
Cash Flows Prepare a balance sheet. Total Stockholders' Equity Total Assets $ 0 Total Liabilities and Stockholders' Equity Statement of Cash Flows )
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Statement of Balance Sheet Cash Flows Prepare a statement of cash flows. (Cash outflows and decreases in cash should be indicated by a minus sign.) Cash Flows from Operating Activities For Supplies Net Cash Flows from Operating Activities Cash Flows from Investing Activities Sale of Investments Purchase Building Net cash flows used in investing activities Cash Flows from Financing Activities Borrow from Bank Pay Dividends
Net Cash Flows from Financing Activities
at Decrease in Cash
Cash at the Beginning of the Year
Cash at the End of the Year
Answer & Explanation
Solved by verified expertAnswered by ACJabanes on coursehero.com
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