Kids n' Caboodle, a children's clothing store had the following cash receipts and disbursements for its first year of operations;
Cash sales $155,000
Loan proceeds 21,000
Total Receipts 176,000
Increase in Cash Balance 18,600
The store has no accounts receivable, at year-end an employee earned 200$ 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.
The solution explains how to prepare a statement of cash flows