Question
Kids n Caboodle, a childrens clothing store, had the following cash receipts and disbursements for its first year of operations: Receipts: Cash sales $155,000 Loan
Kids n Caboodle, a childrens clothing store, had the following cash receipts and disbursements for its first year of operations: Receipts: Cash sales $155,000 Loan proceeds ___2_1_,_0_0_0_ Total receipts ____1__7__6__,__0__0__0__ Disbursements Merchandise purchases (all sold this year) 84,000 Wages 33,000 Rent and lease payments 22,000 Other operating outlays 7,900 Purchase equipment ___1_0_,_5_0_0_ Total disbursements __1_5_7_,_4_0_0_ Increase in Cash Balance $______1__8__,__6__0__0__ The store has no accounts receivable (it accepts only cash or bank cards for payment). At year-end, an employee had earned $200, which the store had not yet paid. Also, at year-end, the store had not paid its most recent utilities bills, which totaled $150. Required: Prepare a cash flow statement for the year.
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