Refer to Danier Leathers balance sheet shown in Appendix II. First, calculate the change in Cash from

Question:

Refer to Danier Leather’s shown in Appendix II. First, calculate the change in Cash from June 26, 2010, to June 25, 2011. Next, refer to Danier’s statement of cash flows and identify the change in Cash reported for the year ended June 25, 2011. Explain the relationship between Danier’s Cash account reported on the and the change in Cash reported on its statement of cash flows.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...