FastForward Has the Following Beginning Cash Balance and Cash Transactions

question 68

Essay

FastForward has the following beginning cash balance and cash transactions for the month of January.Using this information,prepare a statement of cash flows.
$\begin{array}{|l|l|r|}\hline \text { a. } & \text { Beginning cash balance } & \$ 3,200 \\\hline \text { b. } & \text { Cash investment by stockholders } & 15,000 \\\hline \text { c. } & \text { Cash payment toward long-term loan } & 1,000 \\\hline \text { d. } & \text { Cash payment of rent } & 1,800 \\\hline \text { e. } & \text { Purchased equipment for cash } & 7,500 \\\hline \text { f. } & \text { Purchased store supplies for cash } & 1,500 \\\hline \text { g. } & \text { Cash collected from customers } & 7,750 \\\hline \text { h. } & \text { Cash dividends paid } & 2,000 \\\hline \text { i. } & \text { Cash payment of wages } & 4,000\\\hline\end{array}$

Grasp the principles of depreciation and amortization for long-lived assets.

Understand the differences and similarities between IFRS and U.S. GAAP in accounting for long-lived assets.

Grasp the principles for recognizing gains and losses from exchanges and sales of assets.

Comprehend the conditions under which firms record nonmonetary assets at book value or fair value.

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Definitions:

Insomnia

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A general term for experiencing negative emotions such as sadness, anger, or frustration that might be temporary and triggered by specific events.

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A cognitive behavioral therapy technique that involves challenging and changing irrational beliefs regarding the catastrophic outcomes of an event.

Cognitive Therapist

A mental health specialist focused on identifying and correcting negative or distorted thinking patterns, beliefs, and attitudes.