Simple Statement of cash flows, income statement, balance sheet
June cost of goods sold is $11,750
Ending inventory on June 30 is $7,350
There is a $4,200 beginning balance in the Accounts Payable account on June 1
Suppliers were paid $13,500 during the month of June
Wilson earned $15,700 of revenue and sales of the fertilizer bags. $5,500 of the revenue related to cash sales and the rest were credit sales.
*no beginning balance in the Accounts Receivable account
Fill in the blanks
1.) Statement of Cash flows
______________ _______
______________ _______
net change in cash flow _______
2.) Income statement
______________ ________
______________ ________
Net Income ________
3.) Balance Sheet
ASSETS: LIABILITIES + EQUITY:
__________ _____ ___________ _____
__________ _____ ___________ _____
__________ _____ ___________ _____
Change in assets _____ Change in liabilities + Equity ______