Help Thank you.SA- source of assetsUA- use of assetEA- exchange of assetEC- exchange of claims TRANSACTIONSΤΥΡE ΟFVALUEEFFECTWHAT TO DEBITTRANSARECEIVED ANDAND WHAT TOCTIONSVALUE PARTIEDCREDITWITHExample: On Oct. 1,Mr.invested cash into hisbusiness to engage inan "Internet Café"Example: Paid salariesto employeesreceived: Increase|(cash)Value partied with: Increase in Owner'sAsset Debit CashCredit CapitalSAValuein2019ReyescashCapitalEquity ( Capital)received: DecreaseOE DebitЕxpenseUAValueinSalariesSalaries Expense(Salaries Expense)Value partied with: Decrease in Asset Credit Cash(Cash)Cash1Oct. 2, 2019 Paid onemonthrentalofinternet spaceOn Oct. 3, 2019 hebought 4 computerunits for cashOct. 4, 2019 Paiddeposit to Davao Lightfor3thelightconnectionOn Oct. 5, paid thebusiness permit andBIR RegistrationOn Oct. 5, Boughtsuppliesinternet shop in cash(Asset Approach)On Oct. 6, he paid one45forthe6.monthinternetconnection

EA termed as Asset exchange which states the increase in one asset and decrease in another asset and…

CTIONS CREDIT VALUE PARTIED WITH Example: On Oct. 1, 2019 Mr. invested cash into his business to engage in received: Increase in Asset Debit Cash Credit Capital SA Value Reyes cash Value partied with: Increase in Owner's Capital (cash) Equity ( Capital) an "Internet Café" Example: Paid salaries UA Value received: Decrease OE Debit Salaries in

CTIONS CREDIT VALUE PARTIED WITH Example: On Oct. 1, 2019 Mr. invested cash into his business to engage in received: Increase in Asset Debit Cash Credit Capital SA Value Reyes cash Value partied with: Increase in Owner's Capital (cash) Equity ( Capital) an "Internet Café" Example: Paid salaries UA Value received: Decrease OE Debit Salaries in

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 52PSA

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K Analyze the following transactions of Trendy Party Planners in the manner shown below for the August 1 transaction. Also, record each transaction in the journal. i (Click the icon to view the transactions.) August 4. Borrowed $10,000 cash, signing a note payable. The asset, Cash, is ; therefore, Note Payable. Cash. The liability, Note Payable, is therefore,
GIVEN:REF. AMOUNT Business Transactions1. 120,000 DEPOSITED CASH FOR HIS CPA PRACTICE BUSINESS2. 15,000 PAID OFFICE RENT FOR DEC 20193. 80,000 EQUIPT PURCHASED; P40K D/P; P40K PROMM NOTE4. 10,000 OFFICE SUPPLIES BOUGHT ON ACCT5. 25,000 BOOKEEPING SERVICES DONE & PAID FOR CASH6. 12,000 Salary paid7. 6,000 RECEIVED UTILITY BILLS FOR DEC 20198. 35,000 BILLED CLIENTS FOR SERVICES; NO CASH YET9. 6,000 PAID CREDITOR IN PART, SEE #310. 15,000 RECEIVED CASH FROM BILLED ACCTS, SEE #811. 16,000 W/DRAWN CASH FROM #1, FOR PERSONAL USE12. 10,000 TAX CONSULTATION SERVICES, RECEIVED IN CASH13. 6,000 UNUSED SUPPLIES REMAINING, SEE #4 REQUIRED: A TRANSACTIONAL ANALYSIS USING ACCOUNTING EQUATION AND SPECIFIC ACCOUNT TITLESPROFORMA TEMPLATE: A S S E T SGIVEN: Accts SHOPref. Amount, Cash, Rec'ble,Supplies,Equipments…
CengageNOWv2 |0 X Mail - West, Grace K X M Your Accounting ans X b Ask a Question | bart X + Home .com/ilrm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false D) eBook Calculator Brief Exercise 11-30 (Algorithmic) Determining Net Cash Flow from Investing Activities Orlando Inc. reported the following information: 12/31/2019 12/31/2018 Furniture $46,000 $32,000 Accumulated depreciation 15,900 12,500 Investment (long-term) 38,000 50,000 In addition, Orlando sold furniture costing $29,400 with accumulated depreciation of $16,170 for $15,350. Orlando also reported a $1,100 gain on the sale of long-term investments. Required: Compute net cash flow from investing activities. Use a minus sign to indicate negative cash flows (outflows). Feedback Check My Work Set up T-accounts to determine activity in the furniture account. Recreate the journal entry to determine the cash flow related to the long-term investment ac 6:22 PM >) 4/29/2020 DELL PrtScr…
TO Culate net o check if Assets equal Liabilities I cdn.student.uae.examus.n ACCT101_FEX_2021_2_Male Purpose of the Statenment of Cash Flows: 9 క్క 18 a. To calculate net income 95abe18 e18c o check if Assets equal Liabilities b. 95abe18 С. To calculate Assets turnover 95abe18ce33 d. To know where a company spends its cash abe18ce33 95a18ce33 95abe18ce33 95abe18ce33 95abe18ce33 95abe18ce33 MacBook Pro 80 F3 000 95abe1 F4 FS 48 F6 E F7 6 & DII 7 V T F9 8A 99 Cor R. II
need asap Given: FABM Company, a service firm rendering computerizedaccounting services has the following transactions for themonth of June 2018:June 1Owner invested his savings worth P10, 000, 000 intothe business.June 3He bought P1.5 M worth of equipmentJune 5He also invested furniture and fixtures with 250,000June 7Rendered services to clients worth 150, 000 andreceived cash payment immediatelyJune 10Rendered services to clients worth 250, 000 onaccountJune 12Purchased computer supplies amounting to 30,000and issued a promissory noteJune 14Rendered services to clients worth 650, 000 withterms 50% down, balance on accountJune 15Paid salaries of employees worth 45,000June 18Collected half of the amount due last June 10June 20Paid the total amount due for utilities amounting to55, 000June 22Cash receipts amounting to 75,000 from cash salesservicesJune 24Paid the whole amount due on the noteJune 26Paid Philhealth contribution of the employeesamounting to 5,000June 28Borrowed P150,000…
Direction: Lena established a talent agency. The following data are taken from the records of Lena Agency for the year 2019. Classify each cash flow activity (Operating, Investing, Financing or Non-cash).A. Talent Fees receivables from clientsB. Cash receipt from clientsC. Depreciation expenseD. Proceeds of Japan bank loanE. Cash purchase of buildingF. Provision for doubtful accountsG. Additional Investment of LenaH. Dividends income receivedI. Rent Income receivedJ. Payment of operating expensesK. Principal long-term loan paidL. Asset withdrawal of ownerM. Proceeds from sale of land
Directions: Record the transactions directly into the T-accounts. The transactions are independent of one another. Use the following account titles: CashOwner’s WithdrawalsAccounts ReceivableProfessional FeesOffice EquipmentSalaries ExpenseOffice FurnitureRent ExpenseAccounts PayableUtility ExpenseOwner’s CapitalMiscellaneous Expense a. The owner deposited P280,000 in the name of his business.b. He purchased 4-in-1 equipment from Limay Equipment for P4,950, paying P1,000 in cash and the balance on the account.c. He bought chairs and tables for the office for P12,300 cash.d. He purchased furniture from Orion Company for P2,750 in cash.e. He received and paid the telephone bill from Ph Telecom amounting to P1,080.f. He billed his customers P12,940 for services on account.g. He paid P1,850 for the electric bill from BEBECO.h. He paid P3,500 for the membership fee.i. He received P17,650 in cash for services rendered.j. He paid P1,000 to partially settle accounts with Orion Company.k. He…
To demonstrate the difference between cash account activity and accrual basis profits (net income), note the amount each transaction affects cash and the amount each transaction affects net income. A. paid balance due for accounts payable $6,900 B. charged clients for legal services provided $5,200 C. purchased supplies on account $1,750 D. collected legal service fees from clients for current month $3,700 E. issued stock in exchange for a note payable $10,000
6. Indicatewhichjoumal would beusedto record the following transactions. Select from the followirng Cash Receipts Joumal Cash Disbursements Joumal, Sales Joumal Purchases Jourmal, and General Journal. a. Sold inventory for cash b.Sold inventory on account c Received cash a week after selling items on credit d Paid cash to purchase inventory e.Paid a cash dividend to shareholders £Sold sharesofstock for cash a. b. C. d. e. f. 2. Bought equipment forcash h Recorded anadjusting entry for supplies iPaid for a purchase of inventory on accontwithin the discount period i j Paid for a purchase ofinventory on account after the discount period haspassed, k. Bought inventory and agreed to paywithin the next 30 days 1 Receivedbut didnot pay the phone bill. Will pay in 20 days. m Retumed defective goods purchasedon credit to the supplier. The companyhadnotyet paid for them n. Jook out a loan fromthe bank o. Paid employeewages h. k. 1. 1. theconetinumalt
• How much is CUJI • How much is cash as at December 31, 2019? Activity #5: Classify The following transactions pertain to the operations of Happy Events, an event planning company owned by Jessie Natividad. The entity had the following transactions during the month: a) Received P180,000.00 cash investment from the owner b) Provide P400,000.00 services on account c) Incurred P220,000.00 operating expenses on account d) Collected P320,000.00 cash from accounts receivable e) Allowed P30,000.00 cash withdrawal to the owner of the business f) Paid P160,000.00 cash on accounts payable g) Performed services for P30,000.00 cash • How is the net or Ih cash for the year?
Net Income? Ali Mamat Enterprise Trial Balance as at 31 December 2019 Particulars Sales Purchases Salaries Motor expenses Rent Insurance General expenses Premises Motor vehicles Account receivables Account payable Cash at bank Cash in hand Drawings Capital TOTAL Debit (RM) Credit (RM) 190,576 119,832 56,527 2,416 1,894 372 85 95,420 16,594 26,740 16,519 342 8,425 345.166 16,524 138,066 345.166
Find out value of account receivable from following Cash P48,000 accounts payable P33,000 office equipment P21,000 owner equity P77,000? a. P110,000 b. P15,000 c. P41,000 d. P21,000