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2. The T-account of cash of Flax Company shows the following transactions: Account Name: CASH Account No.: 1000 DEBIT CREDIT January 1, 2019 1/15 2/18 P120,000 1,000 30,000 1,850 payment to suppliers utility bills salaries of employees acquisition of computers rent payments payment to suppliers loan payment interest payment owner's drawing sales 22,000 2/2 3/16 collection of receivables 7,890 35,000 3/28 5/20 6/17 sales 4/15 6/1 7/1 collection of receivables 35,000 5,980 66,000 30,000 sales contribution from owner 80,000 200,000 7/17 9/1 10/15 11/21 8/3 12/31 12/31 15,750 18,780 7,500 5,000 207,920 proceed from bank borrowing collection of receivables 15,000 19,000 507,830 collection of receivables 12/31 total debits total credits December 31, 2019 P299,910 Determine the following: a. cash flow from operating activities b. cash flow from investing activities C. cash flow from financing activities

2. The T-account of cash of Flax Company shows the following transactions: Account Name: CASH Account No.: 1000 DEBIT CREDIT January 1, 2019 1/15 2/18 P120,000 1,000 30,000 1,850 payment to suppliers utility bills salaries of employees acquisition of computers rent payments payment to suppliers loan payment interest payment owner's drawing sales 22,000 2/2 3/16 collection of receivables 7,890 35,000 3/28 5/20 6/17 sales 4/15 6/1 7/1 collection of receivables 35,000 5,980 66,000 30,000 sales contribution from owner 80,000 200,000 7/17 9/1 10/15 11/21 8/3 12/31 12/31 15,750 18,780 7,500 5,000 207,920 proceed from bank borrowing collection of receivables 15,000 19,000 507,830 collection of receivables 12/31 total debits total credits December 31, 2019 P299,910 Determine the following: a. cash flow from operating activities b. cash flow from investing activities C. cash flow from financing activities

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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2. The T-account of cash of Flax Company shows the following transactions: Account Name: CASH Account No.: 1000 DEBIT CREDIT January 1, 2019 P120,000 payment to suppliers utility bills salaries of employees acquisition of computers rent payments payment to suppliers loan payment interest payment owner's drawing 1/15 sales 1,000 30,000 2/2 3/16 4/15 6/1 7/1 8/3 12/31 12/31 12/31 22,000 2/18 collection of receivables 3/28 5/20 6/17 7/17 7,890 35,000 66,000 30,000 sales collection of receivables 1,850 35,000 5,980 sales contribution from owner 9/1 10/15 11/21 proceed from bank borrowing collection of receivables 80,000 200,000 15,000 15,750 18,780 7,500 collection of receivables 19,000 5,000 207,920 total debits 507,830 total credits December 31, 2019 P299,910 Determine the following: a. cash flow from operating activities b. cash flow from investing activities C. cash flow from financing activities
Transcribed Image Text:2. The T-account of cash of Flax Company shows the following transactions: Account Name: CASH Account No.: 1000 DEBIT CREDIT January 1, 2019 P120,000 payment to suppliers utility bills salaries of employees acquisition of computers rent payments payment to suppliers loan payment interest payment owner's drawing 1/15 sales 1,000 30,000 2/2 3/16 4/15 6/1 7/1 8/3 12/31 12/31 12/31 22,000 2/18 collection of receivables 3/28 5/20 6/17 7/17 7,890 35,000 66,000 30,000 sales collection of receivables 1,850 35,000 5,980 sales contribution from owner 9/1 10/15 11/21 proceed from bank borrowing collection of receivables 80,000 200,000 15,000 15,750 18,780 7,500 collection of receivables 19,000 5,000 207,920 total debits 507,830 total credits December 31, 2019 P299,910 Determine the following: a. cash flow from operating activities b. cash flow from investing activities C. cash flow from financing activities
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