Question
The personal training business owned by Deepika Hella made the following cash and non-cash transactions during the month ended 31 May, 2022 (Ignore GST). 1.
The personal training business owned by Deepika Hella made the following cash and non-cash transactions during the month ended 31 May, 2022 (Ignore GST).
1. purchased office furniture, $13,200
2. cash received for services, $26,400
3. paid wages, $5,280
4. paid rent, $8,000
5. cash received for services, $39,600
6. charged depreciation, $400
Required
- Prepare a fully classified Statement of Cash Flows for the month ended 31 May, 2022.
- Explain the difference between Cash and Profits.
- Explain the purpose of the Cash Flow Statement
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Survey of Accounting
Authors: Carl S. Warren
7th edition
1285974360, 1285183487, 9781285974361, 978-1285183480
