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1) Sampaguita Company has incurred the following transaction during the month July, 2020: a. Purchase of goods on cash, P150,000 b. Sale of goods on cash, P330,000 c. Paid utilities, P30,000 d. Borrowed P100,000 from Banco de Oro e. Paid rent P10,000 f. Sold equipment for cash P100,000 g. Owner withdraws investment P10,000 h. Paid suppliers, P10,000 Assuming that the cash balance at the beginning of July is P188,000, prepare a Statement of Cash flow for the month. Using DIRECT METHOD.

1) Sampaguita Company has incurred the following transaction during the month July, 2020: a. Purchase of goods on cash, P150,000 b. Sale of goods on cash, P330,000 c. Paid utilities, P30,000 d. Borrowed P100,000 from Banco de Oro e. Paid rent P10,000 f. Sold equipment for cash P100,000 g. Owner withdraws investment P10,000 h. Paid suppliers, P10,000 Assuming that the cash balance at the beginning of July is P188,000, prepare a Statement of Cash flow for the month. Using DIRECT METHOD.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1) Sampaguita Company has incurred the following transaction during the month July, 2020: a. Purchase of goods on cash, P150,000 b. Sale of goods on cash, P330,000 c. Paid utilities, P30,000 d. Borrowed P100,000 from Banco de Oro e. Paid rent P10,000 f. Sold equipment for cash P100,000 g. Owner withdraws investment P10,000 h. Paid suppliers, P10,000 Assuming that the cash balance at the beginning of July is P188,000, prepare a Statement of Cash flow for the month. Using DIRECT METHOD.
Transcribed Image Text:1) Sampaguita Company has incurred the following transaction during the month July, 2020: a. Purchase of goods on cash, P150,000 b. Sale of goods on cash, P330,000 c. Paid utilities, P30,000 d. Borrowed P100,000 from Banco de Oro e. Paid rent P10,000 f. Sold equipment for cash P100,000 g. Owner withdraws investment P10,000 h. Paid suppliers, P10,000 Assuming that the cash balance at the beginning of July is P188,000, prepare a Statement of Cash flow for the month. Using DIRECT METHOD.
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