Use the information in Exercise to prepare an October 31 statement of cash flows for Real Answers. Also assume the following:
a. The owner’s initial investment consists of $38,360 cash and $46,000 in land in exchange for common stock.
b. The company’s $18,000 equipment purchase is paid in cash.
c. The accounts payable balance of $25,037 consists of the $24,437 office supplies purchase and $600 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 $14,000 consulting fees earned.

  • CreatedMarch 18, 2015
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