Powell company began the 2018 accounting period with $40,000 cash, $86,000 inventory, $60,000 common stock, and $66,000 retained earnings. during 2018, powell experienced the following events 1. sold merchandise costing $58,000 for $99,500 on account to prentise furniture store. 2. delivered the goods to prentise under terms fob destination. freight costs were $900 cash. 3. received returned goods from prentise. the goods cost powell $4,000 and were sold to prentise for $5,900. 4. granted prentise a $3,000 allowance for damaged goods that prentise agreed to keep. 5. collected partial payment of $81,000 cash from accounts receivable. required a. record the events in a statements model shown below. b. prepare an income statement, a balance sheet, and a statement of cash flows. c. why would prentise agree to keep the damaged goods?

both are integral parts of a corporate balance sheet. the cash flow statement, or statement of cash flows, measures the sources of a company's cash and its uses of cash over a specific time period. the income statement measures a company's financial performance, such as revenues, expenses, profits or losses over a specific time period (in fact, it's sometimes called a statement of financial performance).

a cash flow statement shows exactly how much money a company has received and how much it has spent, traditionally over a period of one month. it captures the current operating results and changes on the balance sheet, such as increases or decreases in accounts receivable or accounts payable, and does not include noncash accounting items such as depreciation and amortization. the cash flow generally comes from revenue received as a result of business activity, but it may be augmented by funds available as a result of credit. a cash flow statement is used to determine the short-term viability and liquidity of a company, specifically how well it is positioned to pay its bills and vendors.

the answer is     d. in our global economy, most job growth will be in services, but manufacturing jobs will exist, too.