Question

Use the information in Exercise 1-14 to prepare an October 31 statement of cash flows for Real Solutions. Also assume the following:
a. The owner’s initial investment consists of $38,000 cash and $36,000 in land.
b. The company’s $28,000 equipment purchase is paid in cash.
c. The accounts payable balance of $7,500 consists of the $4,250 office supplies purchase and $3,250 in employee salaries yet to be paid.
d. The company’s rent, telephone, and miscellaneous expenses are paid in cash.
e. $2,000 has been collected on the $15,000 consulting fees earned.



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  • CreatedDecember 27, 2012
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