1. McJohn officially started the business on June 1, 2019.

Opened a bank account an deposits $200,000 of his personal savings.

2. On June 5, he purchased land from the city for $ 40,000 cash

3. On June 6, he purchased an old garage for $ 25,000.

He made a cash down payment of $5,000 and, issued a 90-day non-interest bearing note payable for the $ 15,000 balance owed.

4. On June 15, he purchased tools and automotive repair equipment. The purchase price was $12,800.

5. On June 20, he sold some of its new tools for $2,400. Buying company made no down payment but agreed to pay the amount due within 45 days.

6. On June 25, he received $1000 from the neighboring business who purchased some tools and equipment on account.

7. On June 26, he made a partial payment of $7,600 on its account payable.

8. On June 27, he made a partial payment of $5,600 on its account payable.

9. Sales of repair services from 15th -30th June were $3,200.

10. In order to earn $4,400 of revenue, McBryan had to pay some operating expenses.

11. For November, he owed $700 for utilities and $5,600 for wages.

Show and Find the statement of cashflows, income statement and balance sheet on excel.

Answer rating: 100% (QA)

MC John Cash Flow statement Particulars Cash Flow from Operating Activities Pro... View the full answer