Essay
The following transactions apply to Wilson Fitness Center for Year 2.
Started the business by issuing $48,000 of common stock for cashProvided services to clients and received $65,500 cashBorrowed $10,500 from the bankPaid $8,500 for rent of equipmentPurchased land for $15,000Paid $46,600 of salary expensePaid cash dividends of $4,000 to stockholders
Required:What are the total assets of the business at the end of Year 2?Prepare a statement of cash flows for Year 2.
Correct Answer:
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Correct Answer:
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