The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2023. Account Title Credits Cash Debits $4,400 1,400 4,400 10,400 Accounts receivable Inventory Equipment Accumulated depreciation Accounts payable Accrued liabilities Common stock Retained earnings Sales revenue Cost of goods sold. Salaries expense Rent expense Advertising expense Dividends Totals $ 2,900 2,400 0 0 $ 20,600 $ 20,600 January 18 Received $4,000 from customers on account. January 20 Paid $900 to the owner of the building for January's rent. 9,000 6,300 The following transactions occurred during January 2024: January 1 Sold inventory for cash, $2,900. The cost of the inventory was $1,400. The company uses the perpetual inventory system. January 2 Purchased equipment on account for $4,900 from the Strong Company. The full amount is due in 15 days. January 4 Received a $200 invoice from the local newspaper reqjesting payment for an advertisement that Whitlow placed in the paper on January 2. January 8 Sold inventory on account for $4,400. The cost of the inventory was $2,200. January 18 Purchased inventory on account for $9,200. January 13 Purchased equipment for cash, $900. January 16 Paid the entire amount due to the Strong Company. January 30 Paid employees $2,400 for salaries for the month of January.. January 31 Paid a cash dividend of $900 to shareholders..

On January 1, 2021, the general ledger of Big Blast Fireworks includes the following account balances:Accounts                                                Debit                  CreditCash                                                     $ 21,900Accounts Receivable                               36,500Allowance for Uncollectible Accounts                              $ 3,100Inventory                                                30,000Land                                                       61,600Accounts Payable                                                              32,400Notes Payable (8%, due in 3 years)                                   30,000Common Stock                                                                 56,000Retained Earnings                                                             28,500Totals                                                  $150,000             $150,000The $30,000 beginning balance of inventory consists of 300 units, each costing…

The accounting records of JasonJohnson Company provided the data below for years ending 30 June 2022 and 30 June 2021:   2022 2021   $ $ Sales (all on credit) for the year 950,000   Cost of goods sold for the year 380,000   Discount provided to customers for early payment 3,500   Bad debts expense for the year 2,500   Depreciation expense 55,000   Net profit 509,000           30 June 2022 30 June 2021   $ $ Accounts receivable 160,000 140,000 Less: Allowance for doubtful debts 4,500   4,200   155,500 135,800 Inventory 88,360 62,200 Accounts payable 55,500 47,700   Required: a. Based on the information given, prepare the section of cash flows statement for “net cash flows from operating activities” for the year ended 30 June 2022 for JasonJohnson company. Show your calculations for each item included in the section of the statement.  b. Prepare a…

On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances:Accounts                                                 Debit                    CreditCash                                                       $ 25,100Accounts Receivable                                 46,200Allowance for Uncollectible Accounts                                 $ 4,200Inventory                                                   20,000Land                                                          46,000Equipment                                                15,000Accumulated Depreciation                                                   1,500Accounts Payable                                                                28,500Notes Payable (6%, due April 1, 2022)                                50,000Common Stock                                                                    35,000Retained Earnings…