Yogurt Plus, a restaurant, collected the following information on inflows and outflows for 2011: Yogurt Plus had
Question:
Yogurt Plus had a cash balance of $21,800 at 1/1/11.
Required:
1. Prepare a statement of cash flows, using the direct method to determine net cash flow from operating activities.
2. What can you conclude by examining the patterns in Yogurt Plus€™s cash flows?
Transcribed Image Text:
$334,500 72,000 50,000 $176,450 Sales (all for cash) Cash received from sale of common stock Proceads from issuance of longterm notes Cash payments made for merchandise Proceeds from sale of used restaurant Proceeds from issuance of shorHerm note Notes payable issued in exchange for payable furniture payable kitchen equipment 11,300 15,000 30,000 Cash payments for operating expenses Cash payments for interest Cash payments for income taxes Purchase of restaurant furniture for cash Principal payment on mortgage Payment of dividends Cost of kitchen equipment acquired in 115,210 24,600 9,475 108,800 35,000 10,000 30,000 exchange for note payable
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Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
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