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Make a general journal of the following problem below
(Charts of accounts and transactions are provided)
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- How effective is the organization in collecting its receivables? Use the Hillside, Inc. Balance Sheet information in cells A2 through D18 and cells A21 through B38 to complete the Financial Performance Calculations in cells A40 through C60. Table 1: Hillside, Inc. Balance Sheet ($ in Millions) ASSETS LIABILITIES Cash & Marketable Securities 449.90 Accounts Payable 1,611.20 Accounts Receivable 954.80 Salaries Payable 225.20 Inventories 3,645.20 Other Current Liabilities 1,118.80 Other Current Assets 116.60 Total Current Liabilities 2,955.20 Total Current Assets 5,165.27 Other Liabilities 693.40 Machinery & Equipment 1,688.90 Land 1,129.70 Total Liabilities 3,648.60 Buildings 2,348.40 Depreciation (575.60) SHAREHOLDER'S…Which of the following is a cash inflow from financing activities? Receipt from collections on notes receivable Receipt from interest on notes receivable Receipt from issuance of notes payable Receipt from sale of property and equipment Submit Never submit passwords through Google Forms. This form was created inside of Palawan State University. Report Abuse Google Porms4567899 Cash flows: Cash collected from clients 6 Cash disbursements: 15 16 10 11 Balance Sheet information 12 Accounts receivable - End of year 13 Accounts payable - End of year 14 Payables-Advertising Payables - Utilities Salaries paid to employees for services rendered during the year Advertising Utilities Payment of rent Accounts payable total A 17 18 Additional information: 19 20 21 22 Required: 23 There were no anticipated bad debts on receivables. The rent payment was for a two-year period, year 2 and year 3. B Year 1 $20,000 3,000 800 $3,800 24 1. Calculate the net operating cash flow for years 2 and 3. 25 2. Prepare an income statement for each year according to the accrual accounting medit Year 2 Year 2 $260,000 180,000 15,000 8,000 80,000 Year 2 $35,000 4,000 1,200 $5,200 D Year 3 $400,000 Year 3 78724 210,000 22,000 6,000 0 Year 3 2 years $18,000 2,000 0 $2,000 E
- Compute for the following using the data provided below: Cash on Hand – P23,500 Cash in Bank – P226,000 Accounts Receivable – P12,500 Allowance for Bad Debts – P2,500 Merchandise Inventory, Beg – P8,200 Merchandise Inventory, End – P8,500 Prepaid Insurance Expense - P4,800 Long-term Loans Receivable - P60,400 Equipment – P45,600 Fixture and Furniture – P118,900 Acc. Depreciation – P26,800 Land – P350,000 write your answer using this format " 123,456 " Total Current Assets: Net Property, Plant and Equipment: Total Non-current Assets: Total Assets:Multiple Choice Questions Which of the following items decreases the balance in the accounts receivable? Cash paid to creditors Discounts received Credit sales discount allowedmultiple choice quetion a.When preparing a bank reconciliation statement and the closing bank statement balance is an overdraft, we begin with the balance in the bank statement and then: add unpresented cheques and deduct outstanding receipts. add outstanding receipts and deduct unpresented cheques. add all receipts and deduct all payments. 4.add all payments and deduct all receipts
- In reviewing the Accounts Receivable, the Net Cash Realizable Value is __ before a write off of $1500. What is the Net Cash Realizable Value after the write off?a. $16,000b. $1500c. $17300d. $14500Analyze the transactions cash withdrawn from the bank for business use 50000Show new balance sheet if bank uses purchased liquidity management to offset expected drain of $12 million net deposit. Also explain effect on the size and composition of assets and liab
- Show new balance set if bank uses stored liquidity management to offset expected drain of $12 million net deposit. Also explain effect on size and composition of assets and liabAccording to IAS 32 Financial Instruments: Presentation, which of the following could be classified as financial assets? Bank overdraft Cash at bank Inventories A current asset investment A forward contractClassify the following whether they are asset, liability or equity. Classify whether they are current or non-current assets/liability or simply equity. Part 1 Account Element Classification Accounts Payable Accounts Receivable Notes Payable Cash Cash in Bank Cash on Hand Interest Payable Pangit Ka, Capital Notes Payable-5 years Notes Receivable