Question
Cash 1,000 Inventory $600 Revenue $400 Cash 10,000 Bank Loan for Building improvement
|
Cash |
1,000 |
|
|
Inventory |
$600 |
|
|
Revenue |
$400 |
|
|
Cash |
10,000 |
|
|
Bank Loan for Building improvement |
10,000 |
|
|
Inventory |
8,000 |
|
|
AP |
8,000 |
|
|
Cash |
1,000 |
|
|
Dividends earned (IBM stock) |
1,000 |
|
|
Payroll Expense |
500 |
|
|
Cash |
$500 |
|
|
Salary |
1000 |
|
|
Cash |
1000 |
|
|
Cash |
2,000 |
|
|
Inventory |
1200 |
|
|
Revenue |
800 |
|
|
Office Supplies |
500 |
|
|
Cash |
500 |
|
|
A/R |
3000 |
|
|
Inventory |
2000 |
|
|
Revenue |
1000 |
Cash Flow Statement
Jan 1, 2019 – Jan 8, 2019
Starting Cash $1000
Operating
Cash In
(less) Cash out
Net Cash from Operations $___________
Finance
Cash In
(less) Cash out
Net Cash from Finance $____________
Investment
Cash In
Cash out
Net Cash from Investing $_______________
Ending Cash $_______________
Homework Answers
Answer #1
in this question
in financing activity - bank loan will be included
in investing activity - dividend will be included
every other cash transaction is of opearting nature therefore will be included in operating activity
Not the answer you're looking for?
Similar Questions
Q1 - Which financial statement is prepared according to cash basis of accounting: a. Cash Flow...
Q1 - Which financial statement is prepared
according to cash basis of accounting:
a. Cash Flow Statement
b. Income Statement
c. Balance Sheet
d. Retained earnings Statement
Q2 - ............... is a present obligation
that grew out of a past event and will require a future sacrifice
to extinguish the obligation.
a. Unearned Revenue
b. Equity
c. Expense
d. Liability
Q3 - Days ‘sales uncollected ratio is
a. Average receivable/ credit sales
b. Accounts receivable/ net credit sales* 365 days...
A merchandising company began in 2019 with $10,000 in cash and reported net income of $6,700...
A merchandising company began in 2019 with $10,000 in cash and
reported net income of $6,700 on its 2019 income statement.
During the year a loss of $250 was reported on the cash sale of
a piece of equipment with a book value of $1,000. A new piece of
equipment was purchased at a cost of $8,500 to replace the
equipment that was sold. The company paid $1,500 from its
available cash balance to purchase the equipment and took out...
This company uses the perpetual system of inventory. Check for these figures. Cash Receipts Journal, total...
This company uses the perpetual system of inventory.
Check for these figures.
Cash Receipts Journal, total Cash DR: $68,094
Cash Payments Journal, total Cash CR: $62,185
Net Income: $19,351
Total Assets: $143,246
Total Post Closing Trial Balance: $144,871
Colorado Company uses a perpetual inventory system and both an
accounts receivable and an accounts payable subsidary ledger.
Balances related to both the general ledger and the subsidary
ledger for Colorado Co. are indicated in the working paper. Below
are a series...
Presented below are the 2020 Income Statement and Balance Sheet for Riggins Online Store. Prepare a...
Presented below are the 2020 Income Statement and Balance Sheet
for Riggins Online Store. Prepare a Cash Flow Statement as of
December 31, 2020.
Additional Information for the 2020 fiscal year includes: 1)
Cash dividends of $1,000 were declared and paid. 2) Equipment with
a cost of $1,500 and accumulated depreciation of $1,000 was sold
for $500.
Riggins Online Store
Income Statement
For the Year Ended December 31, 2020
Sales Revenue
$ 14,250
Service Revenue
3,400
Total Revenue
$...
Table 5: FINC300 Inc. Income Statement 2013 Sales $7000 Less: Cost of goods sold 4000 Gross...
Table 5: FINC300 Inc. Income Statement 2013
Sales
$7000
Less: Cost of goods sold
4000
Gross Profit
3000
Less: Operating expenses
-
Selling expenses
200
General and administrative expenses
400
Lease expenses
100
Depreciation expenses
80
Total operating expenses
780
Operating profits
2220
Less: Interest expenses
200
Net profit before taxes
2020
Less: Taxes (30%)
606
Net profit after taxes
1414
Less: Preferred stock dividends
20
Earnings available for common stockholders
1394
Less: Common stock dividends
894
Retained earnings
500...
Momber's Flooring Company 2011 2012 Cash 500 800 Accounts receivable 1,400 1,200 Inventory...
Momber's Flooring Company
2011
2012
Cash
500
800
Accounts receivable
1,400
1,200
Inventory
3,900
4,400
Net fixed assets
8,200
8,200
Land
1,000
2,000
Total Assets
15,000
16,600
Notes payable
1,000
600
Accounts payable
3,000
2,000
Accruals
500
900
Long-term debt
3,600
5,400
Common Stock
2,500
2,200
Retained earnings
4,400
5,500
Total Liabilities and Equity
15,000...
Asha and Rasha started partnership busines in 2010 sharing profit and losses in the ratio of...
Asha and Rasha started partnership busines in 2010 sharing
profit and losses in the ratio of 60% and 40% respectively. The
following is the trial balance of the partnership firm, which has
been extracted as on 31 December 2019:
Dr ($)
Cr ($)
Land
50,000
Building
40,000
Plant and Machinery
30,000
Sales
200,000
Sales Return
1,000
Purchase
75,000
Purchase Return
500
Inventory (on 1 January 2019)
11,500
Salaries
24,000
Discount Received
2,500
Rent Received
10,000
Discount Allowed
3,000
Bank Loan...
Balance Sheets for the Years Ending Dec. 31, 2011 and 2012 2011 2012 Cash 300...
Balance Sheets for the Years Ending Dec.
31, 2011 and 2012
2011
2012
Cash
300
400
Accounts receivable
1,000
1,400
Inventories
3,200
3,000
Current assets
4,500
4,800
Net fixed assets
3,800
4,300
Total assets
8,300
9,100
Notes payable
400
300
Accounts payable
700
500
Accruals
50
80
Current portion of long-term debt
70
80
Current liabilities
1,220
960...
Consolidation Working Paper One Year After Acquisition, Bargain Purchase (see re- lated P4.5) On January 1,...
Consolidation Working Paper One Year After Acquisition, Bargain
Purchase (see re-
lated P4.5) On January 1, 2019, Paxon Corporation acquired 90
percent of the outstanding com‑
mon stock of Saxon Company for $1,520 million cash. The fair
value of the 10 percent noncontrolling
interest in Saxon was estimated to be $180 million at the date
of acquisition. Paxon uses the complete
equity method to report its investment. The trial balances of
Paxon and Saxon at December 31, 2019,
appear below:...
1) March 10 Accounts Payable 3,300 Cash 3,300 Paid creditors on account What effect does this...
1)
March
10
Accounts Payable
3,300
Cash
3,300
Paid creditors on account
What effect does this journal entry have on the accounts?
a.
Decrease accounts payable, increase cash
b.
Increase accounts payable, increase cash
c.
Increase cash, decrease accounts payable
d.
Decrease accounts payable, decrease cash
2)
The following adjusting journal entry was found on page 4 of the
journal. Select the best explanation for the entry.
Wages Expense
2,150
Wages
Payable
2,150
????????????????
a.
Record wages paid in advance...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 20 minutes ago
asked 20 minutes ago
asked 20 minutes ago
asked 23 minutes ago
asked 43 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 2 hours ago
asked 2 hours ago