60.1K

Verified Solution

Link Copied!

Expressions Statement of Cash Flows For the Month Ended August 31, 2018 Cashflows from operating activities Net income Adm ents to reconcile net income to net cash provided by operating activities Income statement tems not affecting cash Depreciation expense Changes in current assets and current laitos Increase in accounts payable Net cash provided by operating activities Cash flows from investing activities: Cash paid for equipment Net cash used in financing activities Cash flows from financing activities: Cash received from issuing stock Cash paid for dividends Net cash provided by financing activities Net increase in cash Cash balance at August 1, 2018 Cash balance at August 31, 2018 Expressions Income Statement For the Month Ended August 31, 2018 $ 3,855 EXPRESSIONS Balance Sheet August 31, 2018 Revenues Haircutting services revenue Assets 2,330 16.200 $ 270 (270) 500 125 2.000 $ 18.260 Expenses Depreciation exprese Rent expense Wages expense Other expenses Total expenses Equipment Les Accumulated Depreciation Total assets 2895 $ 960 1,200 17,000 Net income Liabilities and Equity Accounts payable Common stock Retained earnings Total liabilities and equity $ 19.260 Additional information regarding the month ended August 31, 2018 a Jasmine Worth started a haircutting business called Expressions on August 1, 2018 by investing $17,000 cash in exchange for common stock b. During the month of August, Expressions purchased equipment for $16,200 cash C. Cash dividends in the amount of $900 were declared and paid during the month of August, 2018

Answer & Explanation Solved by verified expert

See Answer