d. How much is the net cash flow for the period?c. How much is the cash balance at the end of the period? 1. Brain Company provided the following: cash account beginning balance is P162,552.50. Belowis a list of summarized fransactions of Brain Company:Cash received from customers725,175.00300,547.50Payments to suppliersPayments for operating expensesSalaries paidPurchase equipmentSale of delivery equipment (motorcycle)Proceeds from sale of computer equipmentWithdrawals of owners58,850.0019,992.50253,000.006,875.0042.762.50229,350.00Proceeds from bank loan82,500.00Contributions of owners137,500.008,085.00Interest paid

The cash flow statement is prepared to record cash flow from various activities during the period.

Answered: 1. Brain Company provided the…

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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5. The following balances were extracted from the books of Atuobi Trading Company on 30 November 2011 GHE 344,890 268,187 14,440 496,600 - Cash Credit Sales Purchases- Cash - Credit 600,570 503,970 5,520 3,510 5,070 Total receipts fram customers Total payments to suppliers Discount allowed Discount received Refunds given to cash customers Balance in the sales ledger-set off-against balance in the purchases ledger Bad debt written off Increase in the provisioh for bad debt Credit notes issued to credit customers Credit note received from suppliers 70 780 06 4,140 1,480 According to the audited financial statement for the previous year, debtors and creditors as at 1 December 2010 were GH¢26,555 and GH¢43,450 respectively. You are required to prepare: a) Total Debtors Ledger Control Account b) Total Creditor Ledger Control Accounts. ....
The following information is available for Davis Company and Bender Inc.: Account Cash Cash equivalents Current notes receivable Accounts receivable Prepaid expenses Inventory Fixed assets Accumulated depreciation-Fixed assets Accounts payable Current accrued liabilities Mortgage payable Equity Total Davis Company Dr. $321 88 56 603 55 714 920 $2,757 Davis Company Cr. $415 260 213 917 952 $2,757 Bender Inc. Dr. $425 95 46 307 85 898 755 $2,611 a. Compute the quick ratio for each company. Round ratios to two decimal places. Bender Inc. Cr. $225 198 149 824 1,215 $2,611
Solve the general ledger T-accounts. I need a cash, accounts receivable, inventory, land,accounts payable,notes payable,sales revenue, gain on sale of land and cost of goods sold
Compute for the following using the data provided below: Cash on Hand – P23,500 Cash in Bank – P226,000 Accounts Receivable – P12,500 Allowance for Bad Debts – P2,500 Merchandise Inventory, Beg – P8,200 Merchandise Inventory, End – P8,500 Prepaid Insurance Expense - P4,800 Long-term Loans Receivable - P60,400 Equipment – P45,600 Fixture and Furniture – P118,900 Acc. Depreciation – P26,800 Land – P350,000 write your answer using this format " 123,456 " Total Current Assets: Net Property, Plant and Equipment: Total Non-current Assets: Total Assets:
The following T-account is a summary of the Cash account of Pharoah Company. Cash (Summary Form) Balance, Jan. 1 8,500 Receipts from customers 362,500 | Payments for goods 255,900 Dividends on stock investments 6,800 | Payments for operating expenses 140,600 Proceeds from sale of equipment 36,400 | Interest paid 11,700 Proceeds from issuance of bonds payable 499,400 | Taxes paid 7,200 Dividends paid 59,900 Balance, Dec. 31 438,300 What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows? (Show amount that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash * by financing activities $
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The revenue and cash receipts journals for Polaris Productions Inc. follow. The accounts receivable control account has a January 1, 20Y4, balance of $3,790 consisting of an amount due from Clear Pointe Studios Inc. Page 16 REVENUE JOURNAL Accts. Rec. Dr. Fees Earned Cr. Invoice Post. Date No. Account Debited Ref. 20Y4 Echo Broadcasting Co.... Jan. 6 2,300 Gold Coast Media Inc.. 5,100 14 Echo Broadcasting Co.. Clear Pointe Studios Inc. .. 22 3 2,980 25 4 1,650 Amber Communications Inc. 29 3,650 15,680 31 (12) (41) CASH RECEIPTS JOURNAL Page 36 Accts. Rec. Cr. Cash Post. Fees Date Account Credited Ref. Earned Cr. Dr. 20Y4 6 Clear Pointe Studios Inc. 11 Fees Earned.. Jan. 3,790 3,790 3,200 3,200 18 Echo Broadcasting Co. 2,300 2,300 28 Gold Coast Media Inc. 5,100 5,100 3,200 31 11,190 14,390 (41) (12) (11) Prepare a listing of the accounts receivable customer balances and verify that the total agrees with the ending balance of the accounts receivable controlling account.
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