A Summary of Cash Flows for Evelyn's Event Planning for the Year

question 115

Essay

A summary of cash flows for Evelyn's Event Planning for the year ended December 31 is shown below.Cash receipts:
Cash received from customers
$57,360
Cash received from bank loan
15,000
Cash payments:
Cash paid for operating expenses
$12,120
Cash paid for equipment
18,070
Cash paid for party supplies
9,480
Dividends
12,000
The cash balance as of January 1
$15,580
Prepare a statement of cash flows for Evelyn's Event Planning for the year ended December 31.

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Definitions:

Gradual Decline

A steady and slow decrease in condition, quality, or capacity over time, often observed in physical and cognitive functions with aging.

Kubler-Ross

A model proposed by Elisabeth Kübler-Ross outlining five stages of grief: denial, anger, bargaining, depression, and acceptance.

Insurance Money

Funds received from an insurance policy, which are typically paid out upon certain events such as accidents, health issues, or death.

Denial

A psychological defense mechanism in which confrontation with a personal problem or with reality is avoided by denying the existence of the problem or reality.