Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

XYZ Company has asked for your assistance in preparing its cash flow statement for 20X3. Among other items, listed below are the transactions: 1.Investment by

XYZ Company has asked for your assistance in preparing its cash flow statement for 20X3. Among other items, listed below are the transactions:

1.Investment by owner: $6000

2.Payments to employees: $16 200

3.Receipt from sale of investments: $2600

4.Ending cash balance: $14 600

5.Payments for inventory: $12 000

6.Cash collected from customers: $34 800

7.Withdrawals by owner: $3600

8.Payment for purchase of warehouse: $18 400

9.Payment of interest: $1000.

Required:

A.Prepare the business' 20X3cash flow statement.

B.If the average owner's equity was $31 000, calculate the business's cash return on owner's equity.

CWhat is your evaluation if last year the business's cash return was 17.2 per cent?

Note: Show formula and calculations.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Payroll Accounting 2020

Authors: Bernard J. Bieg, Judith A. Toland

30th edition

357117174, 978-0357117170

More Books

Students also viewed these Accounting questions

Question

How might rapid growth distort the inventory turnover ratio?

Answered: 1 week ago

Question

Were the participants sensitized by taking a posttest?

Answered: 1 week ago