Instructions: Use the below bank account receipts and payments summary to create a statement of cash flows. Use the direct method and follow the format in your textbook, chapter 6. Transaction Description Date 1/1/20 Cash deposit to start business 1/1/20 Three month's rent 1/1/20 Cash register paid for 1/1/20 Store furniture paid for 1/31/20 Receipts for sales in January 2020 2/7/20 Widgets supplied in January paid for 2/25/20 Cash withdrawn for your own expenses 2/29/20 Receipts for sales in February 2020 3/15/20 Widgets supplied in February paid for 3/16/20 Store utility charges for Jan, Feb, Mar 2020 3/31/20 Receipts for sales March 2020 3/31/20 Balance in bank on March 31st 2020 Receipts 10,000 6,500 9,000 12,000 37,500 Payments 2,400 450 8,500 4,500 3,000 6,000 300 12,350 37,500

Instructions: Use the below bank account receipts and payments summary to create a statement of cash flows. Use the direct method and follow the format in your textbook, chapter 6. Transaction Description Date 1/1/20 Cash deposit to start business 1/1/20 Three month's rent 1/1/20 Cash register paid for 1/1/20 Store furniture paid for 1/31/20 Receipts for sales in January 2020 2/7/20 Widgets supplied in January paid for 2/25/20 Cash withdrawn for your own expenses 2/29/20 Receipts for sales in February 2020 3/15/20 Widgets supplied in February paid for 3/16/20 Store utility charges for Jan, Feb, Mar 2020 3/31/20 Receipts for sales March 2020 3/31/20 Balance in bank on March 31st 2020 Receipts 10,000 6,500 9,000 12,000 37,500 Payments 2,400 450 8,500 4,500 3,000 6,000 300 12,350 37,500

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter5: Accounting Systems

Section: Chapter Questions

Problem 9E: Transactions related to revenue and cash receipts completed by Sycamore Inc. during the month of...

See similar textbooks

Similar questions

Transactions related to revenue and cash receipts completed by Sycamore Inc. during the month of March 20Y8 are as follows: Prepare a single-column revenue journal and a cash receipts journal to record these transactions. Use the following column headings for the cash receipts journal: Fees Earned Cr., Accounts Receivable Cr., and Cash Dr. Place a check mark () in the Post. Ref. column to indicate when the accounts receivable subsidiary ledger should be posted.
Transactions related to revenue and cash receipts completed by Sycamore Inc. during the month of December 2016 are as follows: Prepare a single-column revenue journal and a cash receipts journal to record these transactions. Use the following column headings for the cash receipts journal: Fees Earned Cr., Accounts Receivable Cr., and Cash Dr. Place a check mark () in the Post. Ref. column to indicate when the accounts receivable subsidiary ledger should be posted.
Prepare journal entries to record the following transactions. Create a T-account for Cash, post any entries that affect the account, and calculate the ending balance for the account. Assume a Cash beginning balance of $37,400. A. May 12, collected balance due from customers on account, $16,000 B. June 10, purchased supplies for cash, $4,444
Given this book and bank statement information, create an October bank reconciliation for Arrowhead company. And the journal entries required for the book side. BOOK INFO: Cash Date Debit Credit Balance 10/1/2020 Beginning Balance 8,259.86 10/1/2020 Ck 10102 Accounts Payable 1,374.12 6,885.74 10/2/2020 Ck 10103 Rent 3,420.00 3,465.74 10/2/2020 Ck 10104 Utilities 689.00 2,776.74 10/4/2020 Deposit 3,743.10 6,519.84 10/4/2020 Ck 10105 Advertising 344.21 6,175.63 10/4/2020 Ck 10106 Subscription 102.84 6,072.79 10/9/2020 Ck 10107 Internet 74.97 5,997.82 10/9/2020 Deposit 4,859.47 10,857.29 10/9/2020 Ck 10108 Telephone 221.00 10,636.29 10/9/2020 Deposit 11,339.64 21,975.93 10/12/2020 Ck 10109 Accounts Payable 1,680.00 20,295.93 10/13/2020 Ck 10110 Wages…
Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 > Record the amounts that increase cash. Note: Enter debits before credits. Date General Journal Debit Credit October 31, 2021 Cash Record entry Clear entry View general journal
The total on the "Cash Receipts" report generated by QuickBooks® software at January 31 would be equal to the a.balance in Accounts Receivable at January 31 b.total of the purchases journal on January 31 c.total revenue earned for the month of January d.total of the Cash Dr. column of the cash receipts journal in a manual system
a) Update the cash receipts and cash payments journals by adding the necessary adjustments and calculate the total cash receipts and cash payments for June. b) Post from cash receipts and cash payments journals to the Cash at Bank ledger account and balance the account. c) Prepare a bank reconciliation statement at 30 June. d) What is the amount of cash that should be reported on the 30 June balance sheet?
The amount of cash to be reported on the balance sheet at June 30 is the Oa. total of the Cash column in the cash receipts journal as of June 30 Ob. adjusted balance appearing in the bank reconciliation for June 30 Oc. balance as of June 30 on the bank statement Od. total of the Cash column in the cash payments journal as of June 30
Bank ReconciliationLidia has the following information from her books and her August bank statement. She is hoping that you can reconcile her bank account for her. Then prepare a tabular analysis for any adjustments required to reach the adjusted cash balance per books. Be sure to include dates and explanations for any revenues or expenses. Use the provided templates to complete your work. Book Balance $28,600 Bank Balance $32,545 Deposits in transit $3,400 Outstanding checks $5,000, $1,800 and $975 Bank charges $35 Interest earned $55 Health insurance auto-draft $450
Instructions Chart of Accounts Journal Instructions The actual cash received from cash sales was $45,449 and the amount indicated by the cash register total was $45,216. Journalize the entry to record the cash receipts and cash sales. Refer to the Chart of Accounts for exact wording of account titles. Check My Work Save and Exit Email Instructor All work saved. 身

how do I journalize the entry to record the cash receipts and cash sales on March 1st? Refer to the chart of accounts for the exact wording of the account titles. Every line on a journal page is used for debit or credit entries. DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 On March 1, the actual cash received from cash sales was $66,670, and the amount indicated by the cash register total was $66,341. Required: CHART OF ACCOUNTS General Ledger ASSETS 110 Cash 111 Petty Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Office Equipment 192 Accumulated Depreciation-Office Equipment 193 Store Equipment 194 Accumulated Depreciation-Store Equipment…
Question. At April 30, Kessler Company has the following bank information: Cash balance per bank $6,900Outstanding checks $420Deposits in transit $825Credit memo for interest $15Bank service charge $30 What is Kessler's adjusted cash balance on April 30?