Thomason Financial has the following cash transactions for the year. Assume cash at the beginning of the period is $6,500. Prepare a statement of cash flows. (Amounts to be deducted and cash outflows should be indicated with minus sign.)

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hamzafarooqi188 hamzafarooqi188 · Answer 1 · 2020-02-25T09:53:26+01:00

Explanation:

THOMASON FINANCIAL

Statement of cash flows

for the year ended

Cash flow from operating activities

Cash infolws

Cash received for sale of serivces to customers $ 43,000

Cash outflows

Cash paid to building maintenance $ (3,900)

Cash paid for advertisments $ (6,800)

Cash paid to workers $ (16,000)

Net cash flow from operating activities $ 16,300

Cash flow from investing activities

Cash paid to parchase office equipment $ (35,000)

Cash received from sale of land $ 4,300

Net cash flow from investing activities $ (30,700)

Cash flow from financing activities

Cash received from issuance of common stock $ 24,000

Cash paid for dividends to stockholders $ (1,600)

Cash received from borrowings $ 15,100

Net cash flow from financing activities $ 37,500

Net Increase in cash $ 23,100

Cash at the beginning of the year $ 7,100

Cash at the end of the year $ 30,200