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

question 172

Essay

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

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Definitions:

High-involvement

A management philosophy that emphasizes employee participation in decision-making and operations, leading to increased job satisfaction and organizational performance.

Human Relations

The study and management of employees' behavior, attitudes, and performance to improve workplace relationships and productivity.

Goal-sharing Plans

Incentive plans where employees are rewarded for meeting or exceeding certain performance targets set by the organization.

Gain-sharing Plans

A performance-based compensation strategy where employees receive bonuses for improvements in productivity or company performance.