Answered step by step
Verified Expert Solution
Question
1 Approved Answer
4. Prepare a statement of cash flows for the month ending August 31, 2019. For those boxes in which no entry is required, enter 0.
4. Prepare a statement of cash flows for the month ending August 31, 2019. For those boxes in which no entry is required, enter "0". Use the minus sign to indicate cash outflows, cash payments, and decreases in cash. Bronco Consulting Statement of Cash Flows For the Month Ended August 31, 2019 Cash flows from operating activities: Cash receipts from customers Cash payments for expenses and payments to creditors Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities: Cash receipt as owner's investment Cash withdrawal by owner Net cash flow from financing activities Net increase in cash and August 31, 2019, cash balance Jose Loder established Bronco Consulting on August 1, 2019. The effect of each transaction and the balances after each transaction for August follow: Assets = Liabilities + Owner's Equity Accounts Accounts Jose Loder Jose Loder Fees Salaries Rent Auto Cash + Supplies = Receivable + Payable + Capital - Drawing + Earned - Expense - Expense - Expense - a. +32,450 +32,450 Misc. Supplies Expense - Expense b. +2,820 +2.820 Bal. 32,450 2,820 2,820 32,450 c. +31,800 +31,800 Bal. 64,250 2,820 2,820 32,450 31,800 d. -8,800 -8,800 Bal. 55,450 2,820 2,820 32,450 31,800 -8,800 e. -1,360 -1,360 Bal. 54,090 2,820 1,460 32,450 31,800 -8,800 +22,400 +22,400 Bal. 54,090 22,400 2,820 1,460 32,450 54,200 -8,800 9. -6,170 -4,220 -1,950 Bal. 47,920 22,400 2,820 1,460 32,450 54,200 -8,800 -4,220 -1,950 h. -13,000 -13,000 Bal. 34,920 22,400 2,820 1,460 32,450 54,200 -13,000 -8,800 -4,220 -1,950 i. -1,600 -1,600 Bal. 34,920 22,400 1,220 1,460 32,450 54,200 -13,000 -8,800 -4,220 -1,600 -1,950 j. -8,100 -8,100 Bal. 26,820 22,400 1,220 1,460 32,450 -8,100 54,200 - 13,000 -8,800 -4,220 -1,600 - 1,950
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started