Bolton Merchandising had cash and cash equivalents at January 1, 2019 of P400,000. The operating transactions and some financial information of Bolton Merchandising for the year ended December 31, 2019 are as follows: · Accounts Receivable as of January 1, 2019 is P3,870,000 and decreased by P720,000 at the end of the year. • Trade Accounts Payable as of January 1, 2019 is P2,800,000 • Net Sales for the year amounted to P2,890,000. • Cash payments for supplier's accounts P3,120,000 • Rent Expense shown in the statement of profit or loss is P75,000. At the end of the year, the statement of financial position shows Prepaid Rent Expense of P35,000. There was a Prepaid Rent Expense of P65,000 at the beginning of the year. • Received P140,000 in advance from customers Question 42 The total net cash flows from operating activities amounted to PBlank 1.

Bolton Merchandising had cash and cash equivalents at January 1, 2019 of P400,000. The operating transactions and some financial information of Bolton Merchandising for the year ended December 31, 2019 are as follows: · Accounts Receivable as of January 1, 2019 is P3,870,000 and decreased by P720,000 at the end of the year. • Trade Accounts Payable as of January 1, 2019 is P2,800,000 • Net Sales for the year amounted to P2,890,000. • Cash payments for supplier's accounts P3,120,000 • Rent Expense shown in the statement of profit or loss is P75,000. At the end of the year, the statement of financial position shows Prepaid Rent Expense of P35,000. There was a Prepaid Rent Expense of P65,000 at the beginning of the year. • Received P140,000 in advance from customers Question 42 The total net cash flows from operating activities amounted to PBlank 1.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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