St Mary Corporation Statement of Cash Flows St Mary Corporation Comparative Balance Sheets For the Year Ended December 31, 2022 December 31 Cash from operating Activities Assets 2022 2021 Cash Accounts Receivable Inventory Land $ 73,500.00 $ 85,600.00 $169,500.00 Net Income 104800 32,700.00 71,100.00 187,200.00 Net Cash Provided by Operating Activities $ 73,300.00 100,800.00 Depreciation Expense Decrease in Inventory Equipmenet Accum. Depreciation - Equipment 32700 $260,200.00 200,600.00 $ (66,200.00) $595,900.00 17700 (33,500.00 Increase in Accounts Receivable -14500 Total 558,900.00 Decrease in Accounts Payable -12100 Liabilities and Stockholders' Equity 23800 Accounts payable Bonds payable Common stock ($1 par) Retained earnings $ 35,200.00 $151,600.00 $216,600.00 $192,500.00 Net Cash Provided by Operating Activities 128600 47,300.00 203,100.00 175,500.00 Cash Flow from Investing Activities 133,000.00 Total $595,900.00 558,900.00 Sale of Land Net Cash Used by Investing Activities Additional Information 1.Net income for 2022 was $104,800. 2.Depreciation expense was $32,700. 3.Cash dividends of $45,300 were deciared and paid. 4.Bonds payable with a carrying value of $51,500 were redeemed for $51,500 cash. 5.Common stock was issued at par for $41,100 cash. 6. No equipment was sold during 2022. 7.Land was sold for its book value. Cash Flows from Financing Activities Payment of Cash Dividends -45300 Issuance of Common Stock 41100 Net Cash Used by Investing Activities Net increase in Cash Cash at Beginning of Period Cash at End of Period SSS SSS

If a cash payments journal is supposed to save time spent writing, why are there so many entries in the Other Accounts Debit column?

How do you record a debit card purchase in Quickbooks? A. Use the Enter Bills window to enter the information, then immediately go to the Pay Bills window and prepare th check. B. Prepare a journal entry to debit the expense account of the purchase and credit cash. C. Wait until you do the bank reconciliation and enter one journal entry for all of your debit card purchases. D. Using the Write Checks window, in the No. field,type “Debit.” Enter the vendor name and amount in the check area.

is the answer to this question correct If you received a check from Mr. Jones for $500 for work you performed last week, which journal would you use to record receipt of the amount they owed you? What would be recorded? This transaction will be recorded in the Cash Receipts Journal. The receipt of cash from the sale of goods, as payment on accounts receivable or from other transactions, is recorded in a cash receipts journal with a debit to cash and a credit to the source of the cash, whether that is from sales revenue, payment on an account receivable, or some other account. Chapter 7 Accounting Information Systems out of Principles of Accounting, Volume 1.   CASH RECEIPTS JOURNAL Date Account Cash DR Accounts Receivable CR 2022 Mar.13 Mr. Jones $ 500 $ 500