Business
Business, 20.09.2019 19:00, BossKnight

In 2018, lee inc. billed its customers $62,000 for services performed. the company collected $51,000 of the amount billed. lee incurred $39,000 of other operating expenses on account. lee paid $31,000 of the accounts payable. lee acquired $40,000 cash from the issue of common stock. the company invested $21,000 cash in the purchase of land. required (hint: identify the six events described in the paragraph and record them in general ledger accounts under an accounting equation before attempting to answer the questions.) use the preceding information to answer the following questions: what amount of revenue will lee report on the 2018 income statement? what amount of cash flow from revenue will be reported on the statement of cash flows? what is the net income for the period? what is the net cash flow from operating activities for the period? what is the amount of net cash flow from investing activities? what is the amount of net cash flow from financing activities? what amounts of total assets, liabilities, and equity will be reported on the year-end balance sheet?

answer
Answers: 1

Other questions on the subject: Business

image
Business, 22.06.2019 06:30, henriquetucker
Double corporation acquired all of the common stock of simple company for
Answers: 2
image
Business, 22.06.2019 23:40, jaycobgarciavis
John has been working as a tutor for $300 a semester. when the university raises the price it pays tutors to $400, jasmine enters the market and begins tutoring as well. how much does producer surplus rise as a result of this price increase?
Answers: 1
image
Business, 23.06.2019 02:10, musicfrk2207
Which of the following best describes what production accomplishes? a. efficient use of natural resources. b. a reduction in the size of the labor force. c. an increase in supply that lowers prices. d. value added to resources that already exist.
Answers: 1
image
Business, 23.06.2019 06:40, shawn20034
Circumstances under which pro-forma invoice may be used
Answers: 1
Do you know the correct answer?
In 2018, lee inc. billed its customers $62,000 for services performed. the company collected $51,000...

Questions in other subjects:

Konu
Advanced Placement (AP), 17.05.2021 23:50