Here's the problem: The Hobart Company incurred the following transactions during 2003: A. Acquired $50,000 of cash capital from owners B. Paid $10,000 to acquire manufacturing equipment C. Paid $5,000 cash for materials used in production D. Paid $2,000 for wages of production workers...

My questions is: If an Accountant borrows money from a company and does not put the amount on the books or the balance sheet, what kind of account should the loan be recorded as later on?

For what purposes do external users use information of financial statements for?

Cash (used) in operating activities <10,000> Cash (used) in investing activities 10,000 Thank you for any help you can provide.

How do you find the net income?