Three sisters formed a partnership, FreshGlow, to sell skincare products made from organic ingredients. They have been
Question:
Three sisters formed a partnership, FreshGlow, to sell skincare products made from organic ingredients. They have been operating for one year. The bank balance at the end of the year is $34500. A summary of business transactions is as follows.
Required
Prepare a statement of cash flows.
Transcribed Image Text:
Sales to customers Receipts from customers Payments for inventory Payments for electricity, telephone, rent and insurance Purchase of a motor vehicle Drawings Payment of interest Loan proceeds Interest received Equity injection $128 000 108 500 49 000 2500 13 000 25 000 4 000 10 500 500 10 500
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Accounting Business Reporting For Decision Making
ISBN: 9780730369325
7th Edition
Authors: Jacqueline Birt, Keryn Chalmers, Suzanne Maloney, Albie Brooks, Judy Oliver, David Bond
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