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Exercise 3: Polk Street Homes had the following cash transactions for the month ended July 31, 2018. Cash receipts: Collections from customers $25,000 Issued
Exercise 3: Polk Street Homes had the following cash transactions for the month ended July 31, 2018. Cash receipts: Collections from customers $25,000 Issued common stock 13,000 Cash payments: Rent 500 Utilities 2,000 Salaries 1,500 Purchase of equipment 25,000 Payment of cash dividends 4,000 Cash balance, July 1, 2018 14,000 Cash balance, July 31, 2018 19,000 1- Prepare the statement of cash flows for Polk Street Homes for the month ended July 31, 2018.
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