Gold Bars, Inc. began 2018 with cash of $59,000. During the year, Gold Bars earned revenue of $596,000 and collected $624,000 from customers. Expenses for the year totaled $445,000, of which Gold Bars paid $227,000 in cash to suppliers and $208,000 in cash to employees. Gold Bars also paid $149,000 to purchase equipment and a cash dividend of $51,000 to its stockholders during 2018. Prepare the company's statement of cash flows for the year ended December 31, 2018. Format operating activities by the direct method. nomulate the

Gold Bars, Inc. began 2018 with cash of $59,000. During the year, Gold Bars earned revenue of $596,000 and collected $624,000 from customers. Expenses for the year totaled $445,000, of which Gold Bars paid $227,000 in cash to suppliers and $208,000 in cash to employees. Gold Bars also paid $149,000 to purchase equipment and a cash dividend of $51,000 to its stockholders during 2018. Prepare the company's statement of cash flows for the year ended December 31, 2018. Format operating activities by the direct method. nomulate the

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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