hich of the following transactions is an example of an operating cash flow? (Mark all that apply.) 1.Paying vendors for purchases you have received from them 2.Paying your monthly interest payment to the bank 3.Paying your income taxes to the government 4.Paying dividends to your shareholders 5.Paying employees for time they have worked. Need typed answer only.Please give answer within 45 min

hich of the following transactions is an example of an operating cash flow? (Mark all that apply.) 1.Paying vendors for purchases you have received from them 2.Paying your monthly interest payment to the bank 3.Paying your income taxes to the government 4.Paying dividends to your shareholders 5.Paying employees for time they have worked. Need typed answer only.Please give answer within 45 min

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 1EB: For each of the following, indicate if the statement reflects an input component, output component,...

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Use the following items to prepare a balance sheet and a cash flow statement. Determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows. (Omit the "$" sign in your response.) Rent for the month Monthly take-home salary Cash in chequing account Savings account balance Spending for food Balance of educational loan Current value of automobile Telephone bill paid for month Credit card balance Loan payment picture Click here for the Excel Data File Total assets Total liabilities Net worth Total cash inflows Total cash outflows $ $ $ $ 1,410 3,740 650 2,860 1,040 2,320 7,960 70 265 98 Auto insurance Household possessions Stereo equipment Payment for electricity Lunches/parking at work Donations Home computer Value of stock investment Clothing purchase Restaurant spending
Blue Company, an architectural firm, has a bookkeeper who maintains a cash receipts and disbursements journal. At the end of the year (2019), the company hires you to convert the cash receipts and disbursements into accrual basis revenues and expenses. The total cash receipts are summarized as follows. The accounts receivable from customers at the end of the year are 120,000. You note that the accounts receivable at the beginning of the year were 190,000. The cash sales included 30,000 of prepayments for services to be provided over the period January 1, 2019, through December 31, 2021. a. Compute the companys accrual basis gross income for 2019. b. Would you recommend that Blue use the cash method or the accrual method? Why? c. The company does not maintain an allowance for uncollectible accounts. Would you recommend that such an allowance be established for tax purposes? Explain.
For each of the following, indicate if the statement reflects an input component, output component, or storage component of the accounting information system for a bank. A. Online customer check ordering system. B. Approved loan applications. C. Report of customers with savings accounts over $5,000. D. Desktop hard drive on computer used by bank presidents administrative assistant. E. List of the amount of money withdrawn from all of the banks ATMs on a given day.
Jonathan Harker Soaps Company requires its customers to pay for their orders in advance, one month before the product is shipped to them. How should this collection of cash be recorded by Jonathan Harker Soaps Company? Select one: a. Debit Cash at Bank and Credit a revenue account. O b. Debit Cash at Bank and Credit a Liability account. O c. Debit Cash at Bank and Credit another asset account. O d. Debit Cash at Bank and Credit an expense account.
A manager at Thocc, a business retailing and servicing custom keyboards, needs help with interpreting some of the accounting transactions that took place during the month of January 2022. The manager has provided you with a list of those transactions below. Required: Underneath each transaction in the space provided, write a brief narration describing the economic event that corresponds to that transaction. Date Account titles (Details) Dr ($) Cr ($) 2/1/2022 Cash 3,000 Accounts Receivable 2,500 GST Collected 500 Service Revenue 5,000 Answer here: 15/1/2022 Inventory 10,000 GST Paid 1,000 Accounts Payable 5,500 Cash 5,500 Answer here: 30/1/2022 Accounts Payable 15,000 Bank Loan 15,000 Answer here: 31/1/2022 Rent Expense 2,000 Prepaid…
Suppose you work in the loan department of Third National Bank.Byron Blakely, the owner of Byron’s Beauty Solutions, has come to you seeking a loan for$500,000 to expand operations. He proposes to use accounts receivable as collateral for the loanand has provided you with the following information from the company’s most recent financialstatements: Requirement1. Analyze the trends of sales, days’ sales outstanding, and cash collections from customersfor 2019 and 2018. Would you make the loan to Blakely? Support your decision with factsand figures. Assume there are no write-offs in 2018 and 2019.
Directions: Read each senterce carefully and determine whether the statement is TRUE or FALS E. Write your answers on the space provided before each number. 1. At the beginning of the day, you have P200 cash in your pocket. At the end of the day, you have P50 left. If you make a horizontal analysis of your cash, you would conclude that your cash has decreased by 80% during the day. 2. In 2019, Entity A reported sales of P100 and profit of P20. In a vertical analysis, a financial statement user would conclude that Entity A was able to generate 20% profit from every peso of its sales during the period. 3. Entity A reported irventory balances of P100 and P50 in 2019 and 2018, respectively. In a horizontal analysis, a financial statement user would conclude that Entity A's inventory has increased by 50% from2018 to 2019. 4. An analysis of the intenelationships of infomation in a single period, expressed as parcentages of a common denomirator, is called horizortal analysis. 5. A comparison…
Jul 2 Recommended to the owner, Jen Beck, that she put some of the cash into a Money Market account that will earn interest. Jen agrees. Create the general ledger account 1030 Money Market and transfer $7,000 into the account. Just tell me in quickbooks where do i record this transaction?bill (enter bills window)credit (enter bills window)bill pmt - check (pay bills window)check (write checks window)invoice (create invoices window)payment (receive payments window)sales receipt (enter sales receipts window)deposit (make deposit window)general journal (make general journal entries window)inventory adjust (adjust quantity/value on hand window)sales tax payment (pay sales tax window)paycheck (pay employees window)liability check (pay payroll liabilities window)transfer (transfer funds between accounts window)credit card charge (enter credit card charges window)credit memo (create credit memos/refunds window)discounts (receive payments window)
Which one of the following is a use of cash?Group of answer choices (A).payment to a supplier (B).payment received from a customer on his or her account (C).decrease in accounts receivables (D).sale of common stock (E).sale of inventory to a cash customer. Need typed answer.Please give answer within 45 minutes
Directions: Read and analyze the problem below then do the following requirements. Assuming, you owned a sari-sari store and had a beginning cash amounting of P50, 000 and the following transactions occurred during the month. Purchase of goods. Paid in cash. 100, 000 Sales of goods. Received cash. 150,000 Paid utilities 30,000 Paid rent 10,000 Sold equipment for cash 100, 000 Owner withdraws investment 10, 000 Required: Compute for your net cash flow generated/used in operating activities. Compute for your net cash flow generated/used in investing activities. Compute for your net cash flow used in financing activities. Prepare a cash flows statement using direct method.
Help Save A company's Cash account shows a balance of $3,410 at the end of the month. Comparing the company's Cash account with the monthly bank statement reveals several additional cash transactions such as bank service fees ($60), an NSF check from a customer ($330), a customer's note receivable collected by the bank $(1,500), and interest earned $(190). Prepare the necessary entries to adjust the balance of cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list А Record the entries that increase cash. Record the entries that decrease cash. Credit Note : = journal entry has been entered %3D Record entry Clear entry View general journal EX:
Use the following items to prepare a balance sheet and a cash flow statement. Determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows. (Omit the "$" sign in your response.) Rent for the month $ 1,030 Auto insurance $ 240 Monthly take-home salary 2,850 Household possessions 3,470 Cash in chequing account 1,020 Stereo equipment 3,140 Savings account balance 2,360 Payment for electricity 144 Spending for food 470 Lunches/parking