13.Fran's Fancy Flowers had the following business events during the month of April. She began the month with $12,000 in cash that was her only asset. She had no liabilities at that time.
1.Purchased inventory costing $6,000. Paid cash.
2.Sold inventory that had cost $800 for a retail price of $1,000 cash.
3.Paid April's rent on the store of $800.
4.Sold goods costing $1,400 to customers at a price of $1,900 on credit.
5.Bought $100 of supplies (on credit) which were used up during the month.
6.Sold goods to customers for $3,600 cash that had originally cost $2,600.
Required:
Prepare a schedule to determine the net cash flow for the period.
14.On which financial statement would you expect to find each of the following reported? Indicate your answer with a check mark in the appropriate column. Some items may require a check mark in more than one column. (For the statement of cash flows, assume the INDIRECT method is used.)
Income
Statement
Balance
Sheet
Statement of
Cash FlowsStatement of
Stockholders'
Equity
a.Dividends declared/paid
b.Gross profit
c.Total stockholders' equity
d.Prepaid insurance
e.Cash
f.Net income
g.Sales revenue
h.Total liabilities
i.Accumulated depreciation
j.Depreciation expense
k.Earnings per share
l.Retained earnings