Using the data provided please create a statement of cash flows (cash analyst) c
ID: 2466236 • Letter: U
Question
Using the data provided please create a statement of cash flows (cash analyst)
capital sock $52,400.00
advertising expense $2,000.00
cash $17,000.00
rent expense $2,400.00
building $100,000.00
interest expense $700.00
mortgage payable $72,000.00
accounts payable $6,000.00
land $24,000.00
new assets acquired $2,000.00
salary expense $20,000.00
revenues $42,000.00
other expenses $1,300.00
accounts receivable $3,000.00
Income Statement
Revenues $42,000
Expenses:
Advertising Expenses $2,000
Rent Expenses $2,400
Salaries Expenses $20,000
Interest Expenses $700
Other expenses $1,300
Total Expenses $26,400
Income (Revenue - Total Expenses) $15,600
Balance Sheet Amount
Equity Liabilities
Capital Stock 52400
Profit & Loss 15600
Mortgage Payable 72000
Accounts payable 6000
Total 146000
Assets
Building 100000
Cash 17000
land 24000
New Assets 2000
Accounts Receivable 3000
Total 146000
Balance Sheet
Amount
Revenue 42000
Total 42000
Less: Expenses
Advertising 2000
Rent Expense 2400
Interest Expense 700
Salary Expense 20000
Other Expenses 1300
Total 26400
Profit 15600
Statement of retained earnings:
Opening balance $0
Add: current year profit $15,600.00
Closing balance of retained earnings $15,600.00
Explanation / Answer
Statement of Cash Flows
Particulars Amount ($) Cash Flows From Operating Activities Advertising Expense (2,000) Rent Expense (2,400) Salary Expense (20,000) Revenue 42,000 Other Expense (1,300) Cash Flows From Investing Activities Assets Acquired (2,000) Cash Flows From Financing Activities Interest Expense (700) Net Cash Flows 13,600 Add: Opening Cash Balance 3,400 Closing Cash Balance 17,000Related Questions
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