Question

Watts Inc. was organized on July 1, 2013. A summary of cash flows for July follows.

Cash receipts:
Cash received from customers ....... $600,000
Cash received from sale of capital stock .. 200,000
Cash received from note payable ...... 75,000
Cash payments:
Cash paid out for expenses ........ $380,000
Cash paid out for purchase of equipment .. 95,000
Cash paid as dividends .......... 25,000

Prepare a statement of cash flows for the month ended July 31, 2013.



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  • CreatedFebruary 04, 2014
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