Net cash flow from operating activities

Reference no: EM13259429

The Water Fun Store is a retailer of water sports products forbackyard swimming pools, During August; the Firm had the followingoperating activities:

Aug 1 Bought 5,000 of goods for resale from Pine treewholesalers on credit.

Aug 5 Paid 450 to the local newspaper for advertising that randuring July.

Aug 6 Paid 975 rent for the month of August.

Aug 9 sold goods to customers for 7,300 on credit. Thesegoods had cost the firm 3,600.

Aug 10 Paid 3,000 to Pine tree Wholesalers in partial paymentfor goods purchased August 1.

Aug 11 Collected 5,350 from goods sold on August 9.

Aug 13 Bought 9,200 of goods for resale from StanleyCompany. Paid cash.

Aug 16 Paid employees for their work so far in August, 1,050

Aug 19 Sold goods to customers on credit for6,350. These goods had cost the firm 2,400.

Aug 25 Collected 3,700 from the sales made on August19.

Aug 29 Paid 975 rent for the month of September.

Aug 31 Employees had earned an additional 1,200 of wages butwould not be paid until September 1.

A. Prepare a report of net cash flow from operating activities.

B. Prepare an accrual basis income statement.

C. Which statement documents a more realistic or completepicture of Augusts activity? Why?

Reference no: EM13259429

Questions Cloud

Fund-raising campaign : Radio, TV, and newspaper advertising related to a special fund-raising campaign ran during May. The 7,550 costhad been paid in April.

What amount of cash will be made available for other uses : What net benefit (cost) will the firm realize if it adopts the lockbox system? Should it adopt the propsed lockbox system?

In what ways does-research survey questions tend rates : In what ways doesresearch survey questions tend to enhance response rates while limiting errors in the data collected?

Find intrinsic value by discounting each annual : Find intrinsic value by discounting each annual dividend by (1+k)^n where n=number of years, summing them and adding the price in step 3 discounted by (1+k)^4.

Net cash flow from operating activities : Prepare a report of net cash flow from operating activities.

Find the speeds of the two masses after the collision : Two equal masses collide in space away from any gravitational object. Mass A is moving in a straight line at 45 m/s, Find the speeds of the two masses after the collision

Calculate the electric field strength at a location a : A certain antenna installation using a transmitting frequency of 1250 kHz uses an insulated vertical tower of height 200 feet. For a 25 kW transmitter power, calculate the electric field strength at a location A at a distance of 25 km.

General government special assessments : Capital improvement costs incurred for general government special assessments projects requires recognition in

Estimated revenues control account : The estimated revenues control account of star city general fund is eliminated when:

User Account

All Pages