ACCOUNTING W/WILEYPLUS NEXGEN >LL<
ACCOUNTING W/WILEYPLUS NEXGEN >LL<
7th Edition
ISBN: 9781119494904
Author: Kimmel
Publisher: WILEY
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Chapter 1, Problem 11Q
To determine

Find out the primary purpose of the statement of cash flows.

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Please provide the correct answer to this financial accounting problem using valid calculations.
I need help finding the accurate solution to this general accounting problem with valid methods.
Coastal Bistro has the following information for July, when several new employees were added to the waitstaff: Sales revenue $ 143,000 Cost of food serveda 54,000 Employee wages and salariesb 41,000 Manager salariesc 15,800 Building costs (rent, utilities, etc.)d 19,800 a 10 percent of this cost was for food that was not used by the expiration date, and 12 percent was for food that was incorrectly prepared because of errors in orders taken. b 13 percent of this cost was for kitchen staff time spent fixing dishes to replace meals prepared incorrectly because of errors in the original orders taken. c 15 percent of this cost was time taken to address customer complaints about incorrect orders. d 70 percent of the building was used. Required: Using the traditional income statement format, prepare a value income statement.
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