accounting cash flow
posted by Lazeez .
Hi, i have a problem with my statement of cash flow, I did all the work but I just can not seem to find the "cash at beginning of year" part. Does anyone know how to calculate this?
Here is the question:
Ohio Enterprises was organized on January 1, 2010, with the investment of $370,000 in cash by its stockholders. The company immediately purchased a manufacturing facility for $300,000, paying $125,000 in cash and signing a five-year promissory note for the balance. Ohio signed another five-year note at the bank for $50,000 during 2010 and received cash in the same amount. During its first year, Ohio collected $305,000 from its customers. It paid $185,000 for inventory, $30,100 in salaries and wages, and another $40,000 in taxes. Ohio paid $4,000 in cash dividends.
If you have no information of prior years than it is 0. If that's all the information you got then the company is in its first beginning year.