Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following events apply to paradise vacations's

The following events apply to Paradise Vacations's first year of operations: 1. Acquired $36,000 cash...

50.1K

Verified Solution

Question

Accounting

image
image
The following events apply to Paradise Vacations's first year of operations: 1. Acquired $36,000 cash from the issue of common stock on January 1, 2018. 2. Purchased $1,600 of supplies on account. 3. Paid $6,120 cash in advance for a one-year lease on office space. 4. Earned $44,350 of revenue on account. 5. Incurred $14,900 of other operating expenses on account. 6. Collected $32,000 cash from accounts receivable. 7. Paid $9,800 cash on accounts payable. 8. Paid a $4,600 cash dividend to the stockholders. Information for Adjusting Entries 9. There was $310 of supplies on hand at the end of the accounting period. 0. The lease on the office space covered a one-year period beginning November 1 11. There was $5,200 of accrued salaries at the end of the period. Req A ReqB Reqc Req D1 Req D2 Prepare a statement of cash flows. (Amounts to be deducted should PARADISE VACATIONS Statement of Cash Flows For the Year ended December 31, 2018 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net cash flow from financing activities Net change in cash Ending cash balance

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students