How each event is shown in balance sheet income statement


1. In 2014, Peach Tree billed $245,000 to its customers for services performed.

2. The company collected $94,500 of the amount billed.

3. Peach Tree incurred $56,000 of other operating expenses on account.

4. Peach Tree paid $35,000 of the accounts payable.

5. Peach Tree acquired $192,500 cash from the issue of common stock.

6. The company invested $150,500 cash in the purchase of land.

How each event is shown in balance sheet, income statement, and cash flow. Also what kind of cash flow activities are they?

Solution Preview :

Prepared by a verified Expert
Accounting Basics: How each event is shown in balance sheet income statement
Reference No:- TGS02597928

Now Priced at $10 (50% Discount)

Recommended (96%)

Rated (4.8/5)