Journal Entries and a Balance Sheet (Appendix) Refer to the transactions for Krittersbegone Inc. in Problem 3-7A.

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Journal Entries and a Balance Sheet (Appendix)

Refer to the transactions for Krittersbegone Inc. in Problem 3-7A.

Required 1. Prepare journal entries on the books of Krittersbegone to record the transactions entered into during the month. Ignore depreciation expense.

2. Prepare a classifi ed balance sheet dated July 31, 2010. From the balance sheet, what cash infl ow and what cash outfl ow can you predict in the month of August?

Who would be interested in the cash fl ow information? Why?

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