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Preparing a statement of cash flows

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Exercise - Preparing a statement of cash flows - Also assume the following:

The owner's initial investment consists of $37,480 cash and $45,910 in land.

The company's $17,350 equipment purchase is paid in cash.

The accounts payable balance of $7,970 consists of the $2,720 office supplies purchase and $5,250 in employee salaries yet to be paid.

The company's rent, telephone, and miscellaneous expenses are paid in cash.

No cash has been collected on the $13,320 consulting fees earned.

Reference no: EM133002431

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