Preparation of statement of cash flow statement using

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Reference no: EM13356198

Preparation of statement of cash flow statement using direct method

San Garza Properties has been in business for many years. On December 31, 2006, the firm's cash balance was $9,121. During January of 2007, the 14 events on the following page were recorded in the company's accounting system.

		Assets		=	Liabilities	+	Owner's Equity
Date	Accounts	Cash	Other Assets				Contributed Capital	Retained Earnings
1	Cash	18,000			18,000
	Bank Loan Payable
2	Rent Expense
	Cash	(3000)						(3000)
3	Office Furniture		5,500
	Cash	(5,500)
4	Merchandise		9,000
	Accounts Payable				9,000
5	Cash	10,000
	Common stock				10,000
6	Adverting Receivable							(2,200)
	Cash	(2,200)
7	Accounts Receivable		18,000
	Sales Revenue							18,000
8	Merchandise		(7,500)
	Costs of Goods Sold							(7,500)
9	Cash	8,100
	Accounts Receivable		(8,100)
10	Accounts Payable				(7,000)
	Cash	(7,000)
11	Computer Equipment		4,800
	Cash	(4,800)
12	Wages Expense							(1,400)
	Wages Payable				1,400
13	Dividends							(2,000)
	Cash	(2,000)
14	Bank Loan Payable				(5,000)
	Interest Expense
	Cash	(5,135)						(135)
	Ending Amounts	$6,465	$21,700		=	$16,400	$10,000	$1,765

Required:
Prepare a statement of cash flows for the month of January 2007. Use good form and the direct format.

Reference no: EM13356198

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