(Solved by Humans)-Problem 2-8A Statement of Cash Flows Wisconsin Corporation was organized at the beginning of the...
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Problem 2-8A Statement of Cash Flows Wisconsin Corporation was organized at the beginning of the year with the investment of $400,000 in cash by its stockholders. The company immediately purchased a manufacturing facil- ity for $300,000, paying $150,000 in cash and signing a five-year promissory note for the bal- ance. Wisconsin signed another five-year note at the bank for $50,000 during the year and received cash in the same amount. During its first year, Wisconsin collected $310,000 from its customers. It paid $185,000 for inventory, $30,100 in salaries and wages, and another $40,000 in taxes. Wisconsin paid $4,000 in cash dividends. Required 1. Prepare a statement of cash flows for the year. 2. What does this statement tell you that an income statement does not?
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This question was answered on: 10 May, 2025
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