Question
How do I prepare a cash flow statement using the direct method for personal expenses like Salary received over the last year, net of income
How do I prepare a cash flow statement using the direct method for personal expenses like
Salary received over the last year, net of income tax 45,000
Rent and utilities paid 16,600
Car expenses paid 4,800
Credit card debt at the start of the year 1,000
Food, entertaining, recreation paid 6,000
Credit card debt at the end of the year 2,500
Line of credit at the start of the year 2,500
Line of credit at the end of the year 1,200
Purchase of car 20,000
Car loan at the end of the year 15,000
Cash account balance at the beginning of the year 500
Cash received from disposal of motorcycle 1,000
Cash received from disposal of computer 100
Cash account balance at the end of the year 1,000
Purchase of Investments 5,500
Student loan at the beginning of the year 15,000
Student loan at the end of the year 10,000
Purchase of new computer 1,500
Interest expense paid 1,400
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