Hi, I am needing someone to look over my statements especially the cash flow one, if anyone could help me with what I did wrong that would be great, Thanks
Rosa Partridge started the Creative Frame Shop in a small shopping center, In the first weeks of operations, the company completed the following transactions.
A. Deposotied 21,000 in an account in name of the company
B. Paid the current months rent, 1500
C purchased store equipment on credit, 10800
D Purchased framing supplies for cash 5,100
E Received framing revenue, 2400
F billed customers for services, 2100
G Paid utilities expense, 750
H Received payment from customer in transaction F 600
I make payment on store equipment purchaseed in transaction c 5400
J withdrew cash for personal expense 1200
Income Statement
Revenue 4,500
Expenses
Rent 1500
Utilities 750
Total Expenses 2250
Net Income 2250
Owners Equity
Partridge capital 21000
Add Investments ?
Net Income 23,250
Withdrawals 1200
Capital 22050
Cash Flow
Net Income 2250
Increase A/R (1500)
Increase Supplies (5100)
Accounts Payable 5400
Net cash flow form
Operating activities 1050
Investing Activities
Purchase of equipment (10800)
Net cash flow from
Investing activities (10800)
Financing Activities
Investments 21000
Withdrawals (1200)
Net cash flow from
Financing Activities 19800
Decrease in cash 10050
Cash at end of month 10,050