Cash Flow Statement
Not what you're looking for?
Kids n' Caboodle, a children's clothing store had the following cash receipts and disbursements for its first year of operations;
Receipts
Cash sales $155,000
Loan proceeds 21,000
Total Receipts 176,000
Disbursements
Merchandise purchases (all sold this year) 84,000
Wages 33,000
Rent and lease payments 22,000
Other operating outlays 7,900
Purchase equipment 10,500
Total disbursements 157,400
Increase in Cash Balance 18,600
The store has no accounts receivable, at year-end an employee earned 200$ which was not yet paid and at year-end the store had not yet paid their utility bill of $150.
Prepare the cash flow statement for the year.
Purchase this Solution
Solution Summary
The solution explains how to prepare a statement of cash flows
Purchase this Solution
Free BrainMass Quizzes
Marketing Research and Forecasting
The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.
SWOT
This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.
Understanding the Accounting Equation
These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.
Writing Business Plans
This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.
Marketing Management Philosophies Quiz
A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.