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Kruka [31]
3 years ago
13

Use the following items to prepare a balance sheet and a cash flow statement.

Business
1 answer:
Natali5045456 [20]3 years ago
8 0

Answer:

Total Assets=$18,170     Networth=Assets-Liabilites=$15,855

Total Liabilties=$2,315         Cash Outflows =$3,925  

Cash Inflows=$0

Explanation:

Total Assets  

Checking Account   450.00  

Savings Account   1,890.00  

Automobile   7,800.00  

Loan payment   (80.00)

Household Possession   3,400.00  

Stereo Equipment   2,350.00  

Computer                 1,500.00  

Stock Investment         860.00  

                       18,170.00  

Total Liabilties  

Loan                  2,160.00  

Credit balance   235.00  

Loan payment   (80.00)

                    2,315.00  

Networth=$18,170-$2.315=$15,855

 Cash Outflows  

Rent   650.00  

Salaries   1,950.00  

Food   450.00  

telephone    65.00  

Insurance   230.00  

Electricity   90.00  

Lunch/Parking   180.00  

Donation              70.00  

Purchase             110.00  

Restaurant Spending   130.00  

                          3,925.00  

Cash Inflows=$0

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