Jet Styling has the following beginning cash balance and cash transactions for the month of January. Using this information prepare a statement of cash flows. a.Beginning cash balance……………..$ 3,200b.Cash investment by stockholders…………..15,000c.Cash payment toward long-term loan1,000d.Cash payment of rent………………..1,800e.Purchased equipment for cash……..7,500f.Purchased store supplies for cash…1,500g.Cash collected from customers…….7,750h.Dividends …………..2,000i.Cash payment of wages…………….4,000
What will be an ideal response?
| Jet Styling Statement of Cash Flows For Month Ended January 31 | ||
| Cash flows from operating activities: | ? | ? |
| Cash collected from customers………………… | $ 7,750 | ? |
| Cash paid for supplies…………………………… | (1,500) | ? |
| Cash paid for rent………………………………… | (1,800) | ? |
| Cash paid for wages…………………………….. | (4,000) | ? |
| Cash flows from operating activities………………… | ? | $ 450 |
| Cash flows from investing activities: | ? | ? |
| Purchase of equipment…………………………. | ? | (7,500) |
| Cash flows from financing activities: | ? | ? |
| Investment by stockholders……………………………. | 15,000 | ? |
| Dividends …………………………… | (2,000) | ? |
| Payment of loan………………………………… | (1,000) | ? |
| Cash flows from financing activities……………….. | ? | 12,000 |
| Net increase in cash………………………………… | ? | $ 4,950 |
| Beginning cash balance……………………………. | ? | 3,200 |
| Ending cash balance……………………………….. | ? | $ 8,150 |
You might also like to view...
You have just told your supervisor of your intention to resign from your job, and your supervisor asked you to submit it in writing. Your message should
a. be written deductively, stating the date of the resignation in the first sentence. b. recall a positive experience you had with the company. c. give all the reasons why you decided to leave the job. d. state the termination in the final sentence.
The production budget must be prepared before the sales budget can be prepared.
Answer the following statement true (T) or false (F)
Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. The [broker | dealer] market is made up of both the NASDAQ market and the OTC market.
Brahma entered into an oral agreement to sell 50 jet skis to Summer Sports. Brahma delivered 20 of the skis on May 1. On June 1, Summer Sports notified Brahma that it will not honor the agreement. Which statement is correct?
What will be an ideal response?