The following 2022 financial information pertains to Koosman Konsulting, established on January 1, 2022: 1....
80.2K
Verified Solution
Link Copied!
Question
Accounting
The following 2022 financial information pertains to Koosman Konsulting, established on January 1, 2022: 1. Started company by selling $250,000 of common stock for cash on January 1, 2022. 2. Invested $100,000 cash in an office building and computer systems in 2022. 3. Generated and collected revenues of $125,000 cash in 2022 by providing consulting services. 4. Paid all $80,000 of expenses in cash in 2022. 5. Paid a $10,000 cash dividend in 2022. What was Koosmans cash balance on 12/31/22
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
