Answer:
Because not many members of a household may bring in enough money to sustain them all.
Explanation:
Answer:
Explanation:
The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:
Cash flow from Operating activities - Indirect method
Net income $25,400
Adjustment made:
Add: Decrease in accounts receivable $5,000 ($20,000 - $15,000)
Less: Decrease in accounts payable -$450 ($8,750 - $9,200)
Total of Adjustments $4,550
Net Cash flow from Operating activities $29,950
Answer:
Debit Credit
Drawing Marcus James 3,000
Cash 3,000
Explanation:
In this question cash is being withdrawn from the business so we know that the cash of the business would decrease so we will have to credit cash by $3000. Because the owner is withdrawing the cash a drawing entry will be made and 3000 will be debited.