Statement of Cash Flows

Joined
Sep 28, 2014
Messages
2
Reaction score
0
Hello, I'm having trouble getting my "change in cash" on my Statement of Cash Flows. I was seeing if I could get some help or insight as to what I'm doing wrong.

Post Closing Trial Balance for July 31, 2013


Cash-----------------------------------------$142804 (Dr)
Accounts Receivable---------------------7164 (Dr)
Allowance for Doubtful Accounts--------------------35 (Cr)
Inventory---------------------------------------27000 (Dr)
Supplies---------------------------------------150 (Dr)
Prepaid License-----------------------------968 (Dr)
Building-----------------------------------------240000 (Dr)
Equipment-------------------------------------6000 (Dr)
Furniture---------------------------------------15600 (Dr)
Vehicle------------------------------------------29000 (Dr)
Accumulated Depreciation-----------------------------37639 (Cr)
Accounts Payable-----------------------------------------15808 (Cr)
Unearned Revenue-----------------------------------------2000 (Cr)
Wages Payable---------------------------------------------300 (Cr)
Interest Payable---------------------------------------------263 (Cr)
Notes Payable-----------------------------------------------5000 (Cr)
Mortgage Payable------------------------------------------115,316 (Cr)
Common Stock ($1 par Value)-------------------------20000 (Cr)
Additional Paid in Capital--------------------------------200000 (Cr)
Retained Earnings------------------------------------------72326 (Cr)
Total-------------------------------------------468687 (Dr) 468687 (Cr)

Adjusted Trial Balance August 31, 2013


Cash----------------------------------------------------132796 (Dr)
Accounts Receivable-----------------------------7660 (Dr)
Allowance for Doubtful Account----------------------------------77 (Cr)
Inventory-----------------------------------------------47111 (Dr)
Supplies-----------------------------------------------175 (Dr)
Prepaid License-------------------------------------880 (Dr)
Prepaid Advertising---------------------------------187 (Dr)
Building-------------------------------------------------240000 (Dr)
Equipment---------------------------------------------6000 (Dr)
Furniture------------------------------------------------14700 (Dr)
Vehicle---------------------------------------------------290000 (Dr)
Accumulated Depreciation-----------------------------------------40927 (Cr)
Accounts Payable-----------------------------------------------------3346 (Cr)
Wages Payable---------------------------------------------------------100 (Cr)
Interest Payable---------------------------------------------------------292 (Cr)
Notes Payable-----------------------------------------------------------5000 (Cr)
Mortgage Payable------------------------------------------------------115076 (Cr)
Unearned Revenue-----------------------------------------------------1500 (Cr)
Common Stock----------------------------------------------------------21000 (Cr)
Additional Paid in Capital--------------------------------------------209200 (Cr)
Retained Earnings------------------------------------------------------72326 (Cr)
Treasury Stock--------------------------------------1800 (Dr)
Dividends----------------------------------------------1000 (Dr)
Sales Revenue-----------------------------------------------------------85188 (Cr)
Service Revenue---------------------------------------------------------3950 (Cr)
Gain on Sale--------------------------------------------------------------44 (Cr)
Sales Returns and Allowances-----------------260 (Dr)
Sales Discounts--------------------------------------4 (Dr)
Advertising Expense--------------------------------413 (Dr)
Bad Debt Expense----------------------------------117 (Dr)
License Expense------------------------------------88 (Dr)
Supplies Expense-----------------------------------175 (Dr)
Wages Expense--------------------------------------3300 (Dr)
Maintenance and Repairs Expense-----------240 (Dr)
Interest Expense-------------------------------------509 (Dr)
Depreciation Expense------------------------------2902 (Dr)
Charitable Giving Expense------------------------150 (Dr)
Cost of Goods Sold----------------------------------67929 (Dr)
Total--------------------------------------------------------557396 (Dr) 557396 (Cr)

This is what I did for my Financial Statements

Income Statement

Revenues
Sales Revenue---------------------------------85188
Sales Returns and Allowances----------(260)
Sales Discounts-------------------------------(4)
Service Revenue-------------------------------3950
Gain on Sale------------------------------------44
Total Revenue-------------------------------------------------88918

Expenses
Cost of Goods Sold--------------------------(67929)
Charitable Giving Expense----------------(150)
Advertising Expense-------------------------(413)
Bad Debt Expense----------------------------(117)
License Expense-------------------------------(88)
Supplies Expense------------------------------(175)
Wages Expense---------------------------------(3300)
Maintenance and Repair Expense--------(240)
Interest Expense---------------------------------(529)
Depreciation Expense--------------------------(2902)
Total Expense-------------------------------------------------(75823)
Net Income-----------------------------------------------------$13095

Statement of Stockholders Equity
CS=Common Stock
APIC=Additional Paid in Capital
RE=Retained Earnings
TS=Treasury Stock
Beginning Balance---20000 (CS)-----200000 (A.P.I.C)----72326 (RE)-----0 (TS)
Issued CS---------------1000 (CS)-------9200 (A.P.I.C.)------------------------------------
Net Income---------------------------------------------------------------13095 (RE)-------------
Dividends------------------------------------------------------------------(1000) (RE)-------------
TS------------------------------------------------------------------------------------------------(1800) (TS)
Ending Balance-------$21000 (CS)----209200 (APIC)-------84421 (RE)-----(1800) (TS)

Balance Sheet
[ASSETS
Cash--------------------------------------------------------132796
Accounts Receivable---------------------------------7660
Less: Allowance for UA------------------------------(77)
Inventory---------------------------------------------------47111
Supplies---------------------------------------------------175
Prepaid License-----------------------------------------880
Prepaid Advertising-------------------------------------187
Building------------------------------------------------------240000
Equipment--------------------------------------------------6000
Furniture-----------------------------------------------------14700
Vehicle--------------------------------------------------------29000
Less; Accumulated Depreciation-------------------(40297)
Total Assets[/B]------------------------------------------------$438135
Liabilities
Accounts Payable-----------------------------------------3346
Wages Payable---------------------------------------------100
Interest Payable--------------------------------------------292
Mortgage Payable-----------------------------------------115076
Unearned Revenue-----------------------------------------1500
Note Payable-------------------------------------------------5000
Total Liabilities-----------------------------------------------------------$125314
Stockholders Equity
Common Stock-----------------------------------------------21000
APIC--------------------------------------------------------------209200
Retained Earnings-------------------------------------------84421
Treasury Stock------------------------------------------------(1800)
Total SE--------------------------------------------------------------------$321821

Additional Info:
The company issues 1,000 Shares of additional stock for $10 a share
Repurchase 400 shares of company stock for $9 a share
Resold 200 shares of company stock purchased, for $10 a share

This is what I'm getting for my Statement of Cash Flow, but it's not right,

Operating Activities
Net Income------------------------------------13095
Depreciation Expense---------------------2902
Gain on Sale----------------------------------(44)
A/R increase----------------------------------(495)
Inventory Increase---------------------------(20111)
Supplies Increase---------------------------(25)
Prepaid License decrease----------------88
Prepaid Advertising Increase-------------(187)
Accounts Payable decrease-------------(12462)
Wages Payable decrease-----------------(200)
Interest Payable increase------------------29
Mortgage Payable ----------------------------0
Unearned Revenue decrease--------------(500)
Net Cash Flow from Operating Income--------------------------(17910)

Investing Activities
Sale of Furniture--------------------------------700
Total-----------------------------------------------------------------------------700

Financing Activities
Payment of Dividends------------------------(1000)
Issuance of CS---------------------------------10000
Purchase of TS----------------------------------(3600)
Sale of TS------------------------------------------2000
Total ----------------------------------------------------------------------------7400

Beginning Cash-------------------------------------------------------------142804
Ending Cash-----------------------------------------------------------------132796

It seems obvious that I did something wrong or I forgot some accounts on the Cash Flow, if anybody can help, I would appreciate it. Everything seemed like it was going smoothly until I started the cash flow.

EDIT: An easier thing to answer is, am I missing accounts in the Cash Flow from the Adjusted Trial Balance?

EDIT 2: Figured it out.
 
Last edited:

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Members online

No members online now.

Forum statistics

Threads
11,662
Messages
27,630
Members
21,463
Latest member
TonyL

Latest Threads

Top