Question

Use the following items to prepare a balance sheet and a cash flow statement. Determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows.

Answer 1

The answer is:

`Total \ liabilities = \$2,395\\\\Net \ worth = \$15,855 \\\\Total\ cash \ outflows = \$1,950`

Step-by-step explanation:

Please find the complete question in the attached file.

`\text{Total assets} = (450 + 1,890 + 7,800 + 2,350 + 1,500 + 3,400 + 860)= \$18,250 \\\\\text{Total liabilities} = (\$235 + \$2,160)= \$2,395 \\\\\text{Net worth} = (\$18,250 - \$2,395)= \$15,855 \\\\\text{Total cash inflows} = \$1,950 \\\\\text{Total cash outflows} = (650+345+230+180+110+65+80+90+70+130) = \$1,950\\\\`