Statement of Cash Flows

Prepare a statement of cash flows
for a hypothetical company using appropriate financial data and
methods.Note: Some of the assessments in this course build upon
each other, so you are strongly encouraged to complete them in the
order in which they are presented.Assessment Instructions
Using the transactions listed below for Audrey’s Ice Cream
Parlor, prepare a statement of cash flows for the month of April
2012. Classify the transactions into appropriate categories
(operating activities, investing activities, and financing
activities).
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Statement of Cash Flows
Prepare a statement of cash flows for a hypothetical company using appropriate financial data
and methods.
Note: Some of the assessments in this course build upon each other, so you are strongly
encouraged to complete them in the order in which they are presented.
Assessment Instructions
Using the transactions listed below for Audrey’s Ice Cream Parlor, prepare a statement of cash
flows for the month of April 2012. Classify the transactions into appropriate categories
(operating activities, investing activities, and financing activities).
To complete this assessment, use the Statement of Cash Flows Template to complete and
submit the following information:
? a. Received cash of $40,000 total ($10,000 each) from four investors. Each investor
received 100 shares of common stock. This took place on April 1.
? b. Paid three months’ rent for the store on April 1 at $2,000 per month (recorded as
prepaid expenses).
? c. Purchased ice cream and cones for $6,000 on account payable, due in 60 days. This
took place on April 2.
? d. Purchased supplies for $1,000 cash on April 2.
? e. Received a two-year $11,000 loan at the bank. The note payable is dated April 2.
? f. Used the money from (e) to purchase a computer for $3,000 (for record keeping and
inventory tracking) and to purchase $8,000 of used furniture and fixtures for the store.
? g. Placed a grand opening advertisement in the local paper for $600 cash.
? h. Made sales in the first half of the month totaling $5,000: $4,250 was in cash and the
rest was on accounts receivable. The cost of the ice cream sold was $2,000.
? i. Made a $600 payment on accounts payable on April 18.
? j. Incurred and paid employee wages of $2000 for the month of April.
? k. Collected accounts receivable of $700 from customers.
? l. Made a repair to one of the refrigerators for $300.
? m. Made sales in the last half of the month for $6,000, all for cash. The cost of the ice
cream sold was $2,400.
Statement of Cash Flows Scoring Guide
Criteria
Proficient
Create a statement of cash flows
using appropriate financial data
and methods.
Creates a statement of cash flows
using appropriate financial data and
methods.
Distinguished
Creates a
statement of cash
flows using
Criteria
Proficient
Distinguished
appropriate
financial data and
methods;
demonstrates
insight and
understanding of
major sources and
uses.
Classifies a company’s transactions
Classify a company’s transactions
into appropriate categories in a
into appropriate categories in a
statement of cash flows, with few
statement of cash flows.
errors in classification.
Correctly classifies
all of a company’s
transactions into
appropriate
categories in a
statement of cash
flows.
Template for statement of cash flows for Audrey’s Ice Cream Parlor for the month ended April 30, 2012. Classify the transactions into
appropriate categories (operating activities, investing activities, and financing activities). See the transactions provided in the
assessment.
Learner:
Audrey’s Ice Cream Parlor
Statement of Cash Flows
For the Month Ended April 30, 2012
Cash from Operations:
Collections from Customers (Items K, H, and M)
Cash paid for Inventory (Item I)
Cash paid for Rent (Item B)
Cash paid for Supplies (Item D)
Cash paid for Advertising (Item G)
Cash paid for Wages (Item J)
Cash paid for Repairs (Item L)
Cash provided by Operations
$

$

$

$

Investing Cash Flow:
Cash from borrowing from bank (Item E)
Cash paid for Equipment and Furniture (Item F)
Net Investing Cash Flow
Financing Cash Flow:
Issuance of Stock (Item A)
Overall Increase in Cash
Add: Cash at April 1
Yields: Cash at April 30
End of Worksheet

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