Prepare a cash flow statement

Assignment Help Accounting Basics
Reference no: EM133176843

Question - During March 2018, Premier began the month with $8,942 in cash, had revenues of $110,000, paid salaries of $80,000 to its web designers, had operating expenses of $14,400, depreciation of $1,500 on its computer systems, and made estimated tax payments of $2,961.

Required -

a. Prepare a profit and loss statement.

b. Prepare a cash flow statement.

C. Discuss why net profit does not equal net cash flow for the month.

Reference no: EM133176843

Questions Cloud

Literature review on decision-making : You should include a hook, background and an outline - Write a literature review on the previous and existing research on a chosen topic of interest and make
Describe the meaning of defensive medicine : 1. Explain how advances in medicine through the ages led to the rise of the modern-day hospital and improving the quality of patient care?
Write mission and vision statements : A professional philosophy, or your Vision and Mission statements, sum up the guiding principles that drive you and give you purpose. Having a professional philo
Calculate the internal rate of return on the machine : Flak Company uses a 10% cost of capital in evaluating its capital investment projects. Calculate the internal rate of return (IRR) on the machine
Prepare a cash flow statement : Question - During March 2018, Premier began the month with $8,942 in cash, had revenues of $110,000, Prepare a cash flow statement
Higher position in the organic search results : Webmaster often desire that their sites appear in the top 10 ranking in a search engine search. This is because web searchers are not likely to look over more t
Write a literature review on the existing research : Propose what future research can be conducted on this topic to make impact and contribute to knowledge in this area
Differences between sales jobs and other jobs : Understand the major differences between sales jobs and other jobs, and the importance of the selling job to the organization.
Calculate David gross estate : David Davis died in 2019 and left an estate valued at $13,900,000 after the payment of his debts. Calculate David gross estate

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much fixed cost did carla janes and associates incur

A total of 550 direct labor hours was required for the production of the mirrors. Direct labor is variable and costs $10 per hour

  What is the monthly payment

That is, the stated interest agreed on the loan) of the loan is 3.2% per year, what is the monthly payment if you're intended to have the loan for 6 years

  Give examples of how your two selected components of

internal controls are required to safeguard assets and to ensure ethical business practices. 1 identify and explain the

  Prepare the journal entry to record the declaration

Prepare the journal entry to record the declaration and distribution (on November 1, 2020) of the dividend. The market price on the date of declaration was $31

  Define the appliance center revenue arrangement

Assume that the maintenance services are priced separately. Identify the separate performance obligations related to the Appliance Center revenue arrangement

  Compute the amount of phantom profit

At the end of the month, 420 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO

  Prepare adjusting entries required on june

Prepare adjusting entries required on 30 June 2022 for both scenarios (i) and (ii). Please note that the original entry on 1 March 2022 is NOT required

  Calculate net profit margin, expressed as a percent

Received $195,000 cash on 1/5 from customers for service revenue earned in January. Calculate net profit margin, expressed as a percent

  Using the effective listening guidelines in the text

Using the effective listening guidelines in the text, make three suggestions that would allow Alan to fulfill his responsibility to provide employees with critical feedback about performance and to establish a supportive climate?

  What is the value of the fund assets

Question - A mutual fund has a NAV of $33.91 with 240,881 shares outstanding. What is the value of the fund's assets if it has $206,265 in liabilities

  What is the amount of fringe benefits

What is the amount of fringe benefits that should be included in Linda and Richard's gross income on their 2010 tax return

  How activity based costing can help supply information

In its advertising, Ford Motor Company says "Quality is Job One." How Activity Based Costing can help supply information to Ford's management.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd