Question: Use the information in exercise to prepare an october 31

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.

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  • CreatedMarch 18, 2015
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