A Company Had the Following Transactions During the Year

question 27

Essay

A company had the following transactions during the year:
1.Paid rent for the next two years,$8,000.
2.Purchased office supplies on account,$2,400.
3.Purchased equipment,paying $12,000 cash and issuing a note payable for $4,000.
4.Borrowed from the bank,$6,000.
5.Paid employee salaries,$7,200.
6.Paid $2,000 on account related to transaction 2 above.
7.Paid dividends to stockholders,$2,800.
8.Sold land for $10,000 that was purchased in a prior year for $7,500.
9.Collected cash from customers for services provided,$25,700.
Calculate cash flows from operating activities,investing activities,and financing activities.

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Definitions:

Phone Number

A sequence of digits and possibly other characters that uniquely identifies a telephone line for the purposes of establishing telecommunication connections.

Birthday

The anniversary of the day on which a person was born, often celebrated as a yearly occasion.

Photo

An image or snapshot captured by a camera, representing a moment or scene visually.

Contact Groups

Collections of email addresses or phone numbers grouped together under a single name for easy communication in email or messaging applications.