b. What is the net decrease in cash during the month? 8,100 c. What is the net increase in retained earnings during the month? 12,100 ✓ d. What is the net income for the month? 13,100 ✔ e. How much of the net income for the month was retained in the business? X f. What are the net cash flows from operating activities? g. What are the net cash flows from investing activities? (Enter a net cash outflow as a negative amount). h. What are the net cash flows from financing activities? (Enter a net cash outflow as a negative amount).
b. What is the net decrease in cash during the month? 8,100 c. What is the net increase in retained earnings during the month? 12,100 ✓ d. What is the net income for the month? 13,100 ✔ e. How much of the net income for the month was retained in the business? X f. What are the net cash flows from operating activities? g. What are the net cash flows from investing activities? (Enter a net cash outflow as a negative amount). h. What are the net cash flows from financing activities? (Enter a net cash outflow as a negative amount).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:b. What is the net decrease in cash during the month?
8,100
c. What is the net increase in retained earnings during the month?
12,100
d. What is the net income for the month?
13,100
e. How much of the net income for the month was retained in the business?
X
f. What are the net cash flows from operating activities?
g. What are the net cash flows from investing activities? (Enter a net cash outflow as a negative amount).
h. What are the net cash flows from financing activities? (Enter a net cash outflow as a negative amount).
Transcribed Image Text:Cheryl Alder operates her own catering service. Summary financial data for March is presented in the following accounting equation form. Each line,
designated by a number, indicates the effect of a transaction on the balance sheet. Each increase and decrease in retained earnings, except transaction
(4), affects net income.
+ Land = Liabilities + Capital Stock +
Bal.
1.
2.
3.
4.
Bal.
Cash
45,000
28,300
(20,200)
(15,200)
(1,000)
36,900
10,600
20,200
30,800
15,700
15,700
29,300
29,300
Retained Earnings
10,600
28,300
(15,200)
(1,000)
22,700
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