Preparing a Statement of Cash FlowsDolores Lopez opened a new consulting business. The following transactions occurred during January of the current year.Invested cash in the business, $11,000.Paid office rent, $600.Purchased office equipment. Paid $1,600 cash and agreed to pay the balance of $2,000 in four monthly installments.Received cash for services rendered, $1,400.Paid phone bill, $70.Made payment on loan in transaction (c), $500.Paid wages to part-time employee, $525.Received cash for services rendered, $1,400.Paid electricity bill, $90.Withdrew cash for personal use, $130.Paid wages to part-time employee, $525.

Name: Preparing a Statement of Cash FlowsDolores Lopez opened a new consulti
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Description: Preparing a Statement of Cash FlowsDolores Lopez opened a new consulting business. The following transactions occurred during January of the current year.Invested cash in the business, $11,000.Paid office rent, $600.Purchased office equipment. Paid $

This statement reports all the cash transactions which are responsible for the inflow and outflow of…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Preparing a Statement of Cash Flows

Dolores Lopez opened a new consulting business. The following transactions occurred during January of the current year.

Invested cash in the business, $11,000.
Paid office rent, $600.
Purchased office equipment. Paid $1,600 cash and agreed to pay the balance of $2,000 in four monthly installments.
Received cash for services rendered, $1,400.
Paid phone bill, $70.
Made payment on loan in transaction (c), $500.
Paid wages to part-time employee, $525.
Received cash for services rendered, $1,400.
Paid electricity bill, $90.
Withdrew cash for personal use, $130.
Paid wages to part-time employee, $525.

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