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Prepare SBCs statement of cash flows for the month ended August 31 st , 2020. On August 1 st , 2020, Strange Brew Coffee (SBC)
Prepare SBCs statement of cash flows for the month ended August 31st, 2020.
On August 1st, 2020, Strange Brew Coffee (SBC) had a cash balance of $8,000. SBC had the following cash transactions in the month of August:
- August 5th: Customers paid $500 cash for coffee.
- August 10th: SBC paid $1,200 cash owed to their bank (the loan was interest-free).
- August 15th: SBC paid employees $900 cash for work performed.
- August 20th: SBC issued stock to investors for $2,500 cash.
- August 25th: SBC purchased an espresso machine for $3,300 cash.
- August 30th: Customers paid $800 cash for coffee.
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