Loose Leaf for Financial Accounting: Information for Decisions
9th Edition
ISBN: 9781260158762
Author: John J Wild
Publisher: McGraw-Hill Education
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Assume that you are going to start a Business after graduation. Describe 10 transactions that thebusiness might undertake by using your own idea with the following assumptions:• Started business with cash• Goods purchase for cash• Goods purchased on credit• Any asset purchased and paid cash• Any asset purchase on credit• Sold goods for cash• Sold goods on credit• Paid any bill• Paid salary to staff• Cash withdraw from business for personal useBased on your own 10 transactions, prepare:1. Accounting Equation2. Journal3. Ledger4. Trail Balance5. Financial statement
Directions: Read and analyze the problem below then do the following requirements.
Assuming, you owned a sari-sari store and had a beginning cash amounting of P50, 000 and the following transactions occurred during the month.
Purchase of goods. Paid in cash. 100, 000
Sales of goods. Received cash. 150,000
Paid utilities 30,000
Paid rent 10,000
Sold equipment for cash 100, 000
Owner withdraws investment 10, 000
Required:
Compute for your net cash flow generated/used in operating activities.
Compute for your net cash flow generated/used in investing activities.
Compute for your net cash flow used in financing activities.
Prepare a cash flows statement using direct method.
DO IT IN EXCEL AND SHOW FORMULAS
DO IT IN EXCEL AND SHOW FORMULAS
Jorge Del Llano, a start-up merchant, needs $360,000.00 liquid to invest in inventory and pay certain start-up expenses for his business. The Bank has investigated him and considers him eligible for credit. The Bank authorizes an unsecured credit facility, subject to the provision of a line of credit appropriate to your needs, charging 18% interest for a term of 60 days. The origination fee is 1.25%. For what amount was the loan signed for Del Llano to receive the $360,000 free of charge?
Chapter 4 Solutions
Loose Leaf for Financial Accounting: Information for Decisions
Ch. 4 - Prob. 1DQCh. 4 - In comparing the accounts of a merchandising...Ch. 4 - Prob. 3DQCh. 4 - Prob. 4DQCh. 4 - How does a company that uses a perpetual inventory...Ch. 4 - Distinguish between cash discounts and trade...Ch. 4 - What is the difference between a sales discount...Ch. 4 - Prob. 8DQCh. 4 - Prob. 9DQCh. 4 - Prob. 10DQ
Ch. 4 - Prob. 11DQCh. 4 - Prob. 12DQCh. 4 - Refer to the income statement for Samsung in...Ch. 4 - Refer to the income statement of Samsung in...Ch. 4 - Buyers negotiate purchase contracts with...Ch. 4 - Enter the letter for each term in the blank space...Ch. 4 - Prob. 2QSCh. 4 - Use the following information (in random order)...Ch. 4 - Compute the amount to be paid for each of the four...Ch. 4 - Prepare journal entries to record each of the...Ch. 4 - Prob. 6QSCh. 4 - Prepare journal entries to record each of the...Ch. 4 - Prob. 8QSCh. 4 - Prob. 9QSCh. 4 - Prob. 10QSCh. 4 - Prob. 11QSCh. 4 - Prob. 12QSCh. 4 - Prob. 13QSCh. 4 - Prob. 14QSCh. 4 - Prob. 15QSCh. 4 - Prob. 16QSCh. 4 - Prob. 17QSCh. 4 - Prob. 18QSCh. 4 - Prob. 19QSCh. 4 - Prob. 21QSCh. 4 - Prob. 22QSCh. 4 - Prob. 24QSCh. 4 - Prob. 1ECh. 4 - Prob. 2ECh. 4 - Prob. 3ECh. 4 - Prob. 4ECh. 4 - Prob. 5ECh. 4 - Prob. 6ECh. 4 - Prob. 7ECh. 4 - Prob. 8ECh. 4 - Prob. 9ECh. 4 - Prob. 10ECh. 4 - Prob. 11ECh. 4 - A retailer completed a physical count of ending...Ch. 4 - Prob. 13ECh. 4 - Prob. 14ECh. 4 - Prob. 15ECh. 4 - Prob. 16ECh. 4 - Prob. 17ECh. 4 - Prob. 18ECh. 4 - Prob. 19ECh. 4 - Prob. 20ECh. 4 - Prob. 21ECh. 4 - Lopez Company reports unadjusted first-year...Ch. 4 - Prob. 23ECh. 4 - Piere Imports uses the perpetual system in...Ch. 4 - Prob. 25ECh. 4 - Prob. 1PSACh. 4 - Prepare journal entries to record the following...Ch. 4 - Prob. 3PSACh. 4 - Prob. 4PSACh. 4 - Prob. 1PSBCh. 4 - Prepare journal entries to record the following...Ch. 4 - Prob. 3PSBCh. 4 - Prob. 4PSBCh. 4 - Prob. 5PSBCh. 4 - Prob. 1GLPCh. 4 - The General Ledger tool in Connect automates...Ch. 4 - Prob. 3GLPCh. 4 - comparative figures for Apple and Google follow....Ch. 4 - Prob. 3FSACh. 4 - Amy Martin is a student who plans to attend...Ch. 4 - You are the financial officer for Music Plus, a...Ch. 4 - OfficialBrands’s general ledger and supplementary...Ch. 4 - Prob. 5BTN
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