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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Give its financial statements
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 $
Triple Company's accountant made an entry that included the following items: debit postage expense $12.52, debit office supplies expense $27.43, debit cash over/short $2.29. If the original amount in petty cash is $322, how much was the credit to cash for the reimbursement? Multiple Choice $203. $322. $42.24. $39.95. $29.72.
Jervis sels $4,300 of its accounts receivable to Northem Bank in order to obtain necessary cash. Northem Bank charges 2 tactoing fee Wmat entry should Jervis make to record the transaction? Multiple Choice Debir Accounts Receivable $4,300; credit Factoring Fee Expense $86; credit Cash $4214 Debit Accounts Receivable $4,214; debit Factoring Fee Expense $86; credit Cash $4,300. Debit Cash $4,300; credit Factoring Fee Expense $86; credit Accounts Receivable $4,300
ksk.1
I am not exactly sure what this question is asking me to do. The attached image is the information that is given to me. Below are the questions that I need to solve. The answer to question A is 3,650. That was given to me in the problem.Unknown Amounts Requireda. Total cash received $3,650b. Total cash collected from credit customersc. Notes payable repaid during the periodd. Good and services received from suppliers on accounte. Net income, assuming that no dividends were paid
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.
EX.08.160.ALGO The following selected transactions relate to cash collections for a firm that maintains a $100 change fund at all times. Journalize the transactions for each of the two days of cash receipts from sales. a. Actual cash in cash register, $5,086 cash receipts per cash register tally, $5,087.b. Actual cash in cash register, $5,896 cash receipts per cash register tally, $5,770. If an amount box does not require an entry, leave it blank. a. fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9 b. fill in the blank 11 fill in the blank 12 fill in the blank 14 fill in the blank 15 fill in the blank 17 fill in the blank 18
Activity No. 7. Dev Xe Company has the following transactions for the year ended December 31, 2020, were all payments were made thru cash. Prepare a COMPLETE Statement of Cash Flow using a Direct Method Sales Revenue 275,000.00 Cost of Goods Sold 100,000.00 Accounts Payable 7,500.00 Inventory Office Equipment Salaries Taxes 9,000.00 13,000.00 50,000.00 9,000.00 Interest Payments 12,000.00 Net Income 45,000.00 Depreciation Commission on Sales 17,500.00 25,000.00
Is this correct in preparing for a proof of cash?

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