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Create a statement of cash flows using the direct method

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In 2017 Verne company had a beginning cash balance of $2,500. Ending 2017 cash balance should be $120,700. Based on the following information for Verne Company

  1. Paid a utility bill with $800 cash.
  2. Customers paid us a total of $50,000 cash. 
  3. Issued stocks to raise a total of $105,000 cash. 
  4. Paid back a note to Wells Fargo for $5,000 cash. 
  5. Paid $6,000 cash for property taxes due. 
  6. Purchased a new heavy drilling equipment for $35,000 cash. 
  7. Sold a semi-truck for $10,000 cash.

Problem 1: Create a statement of cash flows using the direct method in Microsoft Excel

Reference no: EM132795462

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