STATEMENT OF CASH FLOW STUDY PROBLEM
1. Invested $200,000 to start JHJ rental car company
2. Paid cash of $10,000 for supplies
3. Paid cash of $24,000 on July 1 for one-year insurance policy
4. Purchased equipment on account in the amount of $10,000
5. Purchased $15,000 in supplies on account
6. Paid advertising expense of $10,000
7. Purchased ten autos for $30,000 each paying $50,000 down and signed a note for the balance
8. Received cash car rental revenue $400,000
9. Paid office salaries of $80,000
10. Paid rent expense of $40,000
11. Car rental revenue earned from corporate customers on account $100,000
12. Paid on accounts payable $20,000
13. Collection of cash from corporate customers $100,000
14. Ending supplies inventory $20,000
REQUIRED: Prepare Statement of Cash Flow