The Following Transactions Apply to Copeland's Fitness Center for 2012

question 8

Essay

The following transactions apply to Copeland's Fitness Center for 2012.
1)Started the business by issuing $18,000 of common stock for cash
2)Provided services to clients and received $28,000 cash
3)Borrowed $6,500 from the bank for the business
4)Paid $4,500 for rent of equipment
5)Paid $6,000 of salary expense
6)Cash dividends of $11,500 were paid to the stockholders
Required:
a)What are the total assets of the business at the end of 2012?
b)Prepare a Statement of Cash Flows for 2012.

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Definitions:

Reward

A benefit or positive outcome provided to encourage a certain behavior or achievement.

Operant Conditioning Techniques

Behavioral training methods based on the principle of reinforcing desired behaviors and discouraging undesired ones.

Infant Memories

This term relates to the recollections or memories that originate from the infancy period of a human's life, although these are usually not consciously accessible in later years.

Retrieval Cues

Stimuli or signals that help in the recall of memories stored in the brain.