Question

Question 2 This information is for Concord Corporation for the year ended December 31, 2017. Cash received from lenders Cash received from customers Cash paid for new equipment Cash dividends paid Cash paid to suppliers Cash balance 1/1/17 $19,000 45,900 27,600 7,300 15,800 12,000

Answer 1

Solution

Concord Corporation
Statement of Cash Flows
For the Year Ended December 31-2017
Cash flows from operating activities:
Cash received from customers	$            45,900.00
Cash paid to suppliers	$     (15,800.00)
Net cash flow from operating activities		$        30,100.00
Cash flows from investing activities:
Cash paid for new equipment	$     (27,600.00)
Net cash flow used for investing activities		$       (27,600.00)
Cash flows from financing activities:
Cash received from lenders	$      19,000.00
Cash dividend paid	$       (7,300.00)
Net cash flow from financing activities		$        11,700.00
Increase in cash		$        14,200.00
Cash at the beginning of the year		$        12,000.00
Cash at the end of the year		$        26,200.00