Business, 09.09.2019 23:30 barnhill4755

Also assume the following: the owner’s initial investment consists of $38,800 cash and $45,980 in land in exchange for its common stock. the company’s $18,660 equipment purchase is paid in cash. the accounts payable balance of $9,170 consists of the $3,930 office supplies purchase and $5,240 in employee salaries yet to be paid. the company’s rent, telephone, and miscellaneous expenses are paid in cash. no cash has been collected on the $16,540 consulting fees earned. using the above information prepare an october 31 statement of cash flows for ernst consulting. (cash outflows should be indicated by a minus sign.)

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Also assume the following: the owner’s initial investment consists of $38,800 cash and $45,980 in l...

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