Question

Create a Statement of Cash Flow. All beginning balances will be Zero.

Credit Adjusted Trial Balance December 31, 2019 PR 105 107 110 Debit $24.485.00 SS 00 $11.750.00 Petty Cash T S1000100 $ 500.00 Prepaid Insurance Computer Equipment Accumulated Depreciation - Compu $21.00 CR An d Depreciation Cell Phone $2 260.00 $2.066.00 $112.00 $2,025.00 $675.00 $10,098.00 $190.00 S8.682.00 $1,200.00 $10.800.00 521 560 $ 1.200.00 610 $6,000.00 $14,167.00 $1.100.00 $23,250.00 Anunted Depectation Vehicles Accounts Payable Customer Deposits (Unearned Revenue SUTA Payable LEICA Payable FUTA Payale Federal Income Tax Payable State Income Tax Payable Current Maturities of Long Term Debt Notes Payable (long-term) interest Payable Salaries Payable Common Stock (52 par value) Additional Paid in Capital on Common Stock Retained Earnings Dividends Engagement fees Monthly Accounting Services Revenue Tax Services Revenues Sales Discounts Hourly Accounting Services Revenue Advertising & Promotion Expense Depreciation Expense Rent Expense Insurance Expense Supplies Expense Meals & Entertainment Taxes and Licenses Telephone Expense Despense Fuel Expense Interest Expense Payroll Tax Expense Salaries Expense Service Charge Expense Charitable Contributions Expense Contract Labor Expense De Minimus Furniture & Equipment Expense Health Insurance, Employee Health Insurance, Member Janitorial Expense Pest Control Expense Postare & Delivery Expense Professional Fees Expense Repairs & Maintenance Expense 867.00 614 $72.00 1620 725 $600.00 727 $3.641.00 730 $2,000.00 735 $500.00 740 $600.00 745520.00 767 193.00 770 $150.00 775 $770.00 780 $50.00 320 825 $1.509.00 830 $15.750,00 $60.00 340 $300.00 845 $750.00 850 $1,750.00 855 850 865 $200.00 870 $70.00 875 $175.00 385 $220.00 Totals $128,955.00 $128.955.00

All the professor gave us is this Trail Balance and said to create a Statement of Cash Flow with all beginning balances being zero.

Answer 1

Cash Flow Statement:
	Amount $
Cash flow of Operating Activities:
Net Income (as provided in Note)	14170
Add:Depreciation exp.	3641
Less:Increase in AR	-11750
Less:Inc. in supplies	-168
Less:Inc. in Prepaid Ins	-1000
Add:Inc. in AP	2260
Add:inc. in suta	224
add: inc. in FICA	2066
add: inc. in FUTA	112
add:inc. in Fed tax	2025
add:inc. in State tax	675
Add:inc. in Int. pay.	190
Add:inc. in Sala. Pay.	8682
Cash inflow of Operating Activities	21127
Cash flow of Investing Acitivities:
Less:Purchase of Comp.	-3500
Less:purch. Of cell phone	-1000
Less:purch. Of vehicles	-55000
Net Cash outflow of Investing Activities	-59500
Cash flow of Financing Activities:
Add:Inc. in LTDebt	10098
Add:Note issue	42465
Add:Share issue	1200
Add:Share issue	10800
Less:Dividend paid	-1200
Net Cash inflow of Financing Activities	63363
Net Cash inflow of all Activities	24990
Less:Petty Cash	-505
Less:Cash Op. Bal.	0
Cash Cl. Balance	24485

Note:

Income Statement:
	Amount $
Revenues:
Engagement fees	6000
M. Accting Serv.	14167
Tax services	1100
Hourly Acct ser.	23250
Less:Sales discount	-72
Total Revenues	44445
Less:Expenses:
Advertising	600
Dep.	3641
Rent	2000
Insurance	500
Supplies	600
Meals entertain.	20
Taxes & Licenses	193
Telephone	150
utilities	770
Fuel	50
Interest	867
Payroll tax	1609
Salaries	15750
Service charge	60
Charita. Contributions	300
Contract Lab.	750
De Minumus Furni	1750
Janitorial	200
pest control	70
Prof. Fees	175
Repair Mainte.	220
Total Expenses	30275
Net Income	14170