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
icon
Related questions
Question

The total net cash flows from operating activities amounted to PBlank 1.

PROBLEM C
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.
Blank 1
Add your answer
Transcribed Image Text:PROBLEM C 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. Blank 1 Add your answer
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Cash Flow Statement Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education