Question
Use the following cash flow statement to answer following questions; Cash Flow Statement of the Alston Household Fynn and Eliza Alston for the year ended
Use the following cash flow statement to answer following questions;
Cash Flow Statement of the Alston Household
Fynn and Eliza Alston for the year ended 31 December 2019
Cash Inflows
Wages and salaries
Fynn Alston $99,000
Eliza Alston $70,200
Bonuses and commissions $12,235
Investment income $1,320
Total cash inflows $182,755
Cash Outflows
Housing $52,200
Utilities $5,090
Food $18,350
Cars $4,520
Medical $2,750
Insurance $1,450
Taxes $16,430
Surplus $81,965
QUESTION 1: While constructing the above cash flow statement for the Alston Household, Eliza Alston forgot to include the amount of cash spent on clothing and footwear. However, she knew that their total assets were $740,200 and their total liabilities were $219,200 as of 31 December 2019. Their net worth at 1 January 2019 was $442,135. Calculate the clothing and footwear expenses for Eliza.
Select one:
a.
$3,100
b.
$4,050
c.
$3,050
d.
$2,750
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