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Preparation of SCF for a Single Proprietorship  Instructions: Prepare a Statement of Cash Flows for the year ended December 31,2020 the using the following account titles listed. Use the Direct Method. You may use any desired business name. Use the space provided for your answer.   Cash from Clients – 450,000 Cash Payment for merchandise – 410,500 Cash receipt from additional investment of owner – 114,450 Cash receipt from sale of equipment - 15,000 Cash withdrawal by the owner – 80,000 Cash, January 1, 2020 - 120,000 Credit sales – 35,000 Depreciation expense – 15,410 Paid loan from a bank - 111,000 Payment to interest expense – 10,000 Payment to suppliers – 20,000 Payment to utilities – 30,000 Payments to Employees – 14,800

Preparation of SCF for a Single Proprietorship  Instructions: Prepare a Statement of Cash Flows for the year ended December 31,2020 the using the following account titles listed. Use the Direct Method. You may use any desired business name. Use the space provided for your answer.   Cash from Clients – 450,000 Cash Payment for merchandise – 410,500 Cash receipt from additional investment of owner – 114,450 Cash receipt from sale of equipment - 15,000 Cash withdrawal by the owner – 80,000 Cash, January 1, 2020 - 120,000 Credit sales – 35,000 Depreciation expense – 15,410 Paid loan from a bank - 111,000 Payment to interest expense – 10,000 Payment to suppliers – 20,000 Payment to utilities – 30,000 Payments to Employees – 14,800

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 59PSB: Using a Spreadsheet to Prepare a Statement of Cash Flows Fleet Limousine Service Inc. began...
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Preparation of SCF for a Single Proprietorship 

Instructions:

  1. Prepare a Statement of Cash Flows for the year ended December 31,2020 the using the following account titles listed.
  2. Use the Direct Method.
  3. You may use any desired business name.
  4. Use the space provided for your answer.

 

  • Cash from Clients – 450,000
  • Cash Payment for merchandise – 410,500
  • Cash receipt from additional investment of owner – 114,450
  • Cash receipt from sale of equipment - 15,000
  • Cash withdrawal by the owner – 80,000
  • Cash, January 1, 2020 - 120,000
  • Credit sales – 35,000
  • Depreciation expense – 15,410
  • Paid loan from a bank - 111,000
  • Payment to interest expense – 10,000
  • Payment to suppliers – 20,000
  • Payment to utilities – 30,000
  • Payments to Employees – 14,800

 

 

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