Posted On: 04/30/2014 3:14:23 PM
Post# of 36729
Thanks. The money to sustain the firm came solely from cash advances by a related party: $298,347. Net cash used in operating expenses: $145,038.
$298,347 - 145,038 = $153,309. The firm ended FY 2013 with $153,309 cash.
Interest accrued and accounts payable represent money owed the firm, as do the receivables. Bad debt (25,051,486), income tax (8,735,472), and settlement (938,288) was expensed.
$298,347 - 145,038 = $153,309. The firm ended FY 2013 with $153,309 cash.
Interest accrued and accounts payable represent money owed the firm, as do the receivables. Bad debt (25,051,486), income tax (8,735,472), and settlement (938,288) was expensed.
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