Mc Donald consulting, Inc., completed the following transactions during December 2016, its first
month of operations
Dec 2 Sold $10,000 of capital stock to Dan Mc Donald to start the consulting practice
3 Paid monthly office rent, 5800
6 Paid cash for a new computer, $1,600,
8 Purchased office furniture on account. $2,100
11 Purchased supplies on account, 200
19 Performed consulting services on account. 5900
20 Paid utility expenses, $300
28 Performed service for a client and received cash for the full amount of $1,100
Requirements:
a.
Record transactions in a journal
b. Determine the following cash amounts:
Net cash flow from operating activities:
Net cash flow from Investing Activities:
Net cash flow from Financing activities:
