Question

The Bloom Company issued stock for $53,500 cash on January 20, 2011. During 2011, the company...

The Bloom Company issued stock for $53,500 cash on January 20, 2011. During 2011, the company recorded revenue on account of $18,700 and expenses for which cash was paid of $10,280. Bloom received $10,550 cash from accounts receivable. The company also purchased land for $6,175 cash. Based on this information, the amount of change in cash for 2011 was Multiple Choice

$57,875

$53,770

$47,595

$66,295

Business   Accounting   
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Answer #1
Ans Statement of change in cash for 2011:
Particulars Amt.($) Amt.($)
Add:
Received from issue of stock            53,500
Received from Accounts receivable            10,550          64,050
Less:
Paid for expenses            10,280
Purchase of Land              6,175          16,455
Amount of Change in cash          47,595
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