Question

Use the following items to prepare a balance sheet and a cash flow statement. Determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows. $4,070 2.420 2,340 104 Balance Sheet and Cash Flows Rent for the month Cash in checking account Spending for food Current value of automobile Credit card balance Auto insurance Stereo equipment Lunches/parking at work Home computer Clothing purchase $1,520 Monthly take-home salary 920 Savings account balance 1,260 Balance of educational loan 7,820 Telephone bill paid for month 307 Loan payment 319 Household possessions 3,290 Payment for electricity 194 Donations 2,430 Value of stock investment 146 Restaurant spending 3,880 150 1.670 145 Balance Sheet and Cash Flows Total assets Total liabilities Net worth Total cash inflows Total cash outflows

Answer 1

Total assets	22430
total liabilities	2647	(excluding capital and profit)
net worth	19783	(capital + profit)
total cash inflow	4070	loa paid
total cash outflows	84
workings
Balance sheet and PL A/c
Profit and Loss A/c
Expenditure		Income
debit			Credit
telephone bill	104	Salary	4070
Rent for the month	1520
Spending for food	1260
Auto insurance	319
Lunches/Parking at work	194
cloth purchase	146
payment of electricity	150
donation	148
restaurant spend	150
Net profit	79
Total	4070	Total	4070
	Balance sheet
Liabilities		Assets
Share capital (bal.figure)	19704	cash in checkin account	920
Net profit	79	Automobile	7820
education loan	2340	stereo equipment	3290
credit card balance	307	Home computer	2430
		saving a/c balance	2420
		household possession	3880
		stock investment	1670
	22430		22430
Cash flow statement
N.Profit	79
Cash from operating activity	79
Cash from investing activity	0
Cash form financing activity
Loan paid	-84
Change in cash and cash equivalent	-5
Opening cash	920
closing cash	915