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4. Partial statement of cash flows From the following information, prepare the cash provided(used) from operations 2020 2019 Accounts receivable P 75,000 P 55,000 Notes receivable 25,000 50,000 Accounts payable 50,000 Notes payable Net income for the year 80,000 75,000 100,000 200,000 Depreciation 60,000 Required: 4a. Compute the increase(decrease)in current assets and current liabilities 4b. Compute the cash provided(used) from operations

4. Partial statement of cash flows From the following information, prepare the cash provided(used) from operations 2020 2019 Accounts receivable P 75,000 P 55,000 Notes receivable 25,000 50,000 Accounts payable 50,000 Notes payable Net income for the year 80,000 75,000 100,000 200,000 Depreciation 60,000 Required: 4a. Compute the increase(decrease)in current assets and current liabilities 4b. Compute the cash provided(used) from operations

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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4. Partial statement of cash flows From the following information, prepare the cash provided(used) from operations 2020 2019 Accounts receivable P 75,000 P 55,000 Notes receivable 25,000 50,000 Accounts payable 50,000 80,000 Notes payable Net income for the year Depreciation 100,000 75,000 200,000 60,000 Required: 4a. Compute the increase(decrease)in current assets and current liabilities 4b. Compute the cash provided(used) from operations The following information were given to you Sales. . Cost of sales. . Gross income is 35% of cost of sales ? . .P 500,000 ? ....... Required: 5.a. What is the sales percentage? 5.b. How much is the cost of sales? 5. c. How much is the gross profit?
Transcribed Image Text:4. Partial statement of cash flows From the following information, prepare the cash provided(used) from operations 2020 2019 Accounts receivable P 75,000 P 55,000 Notes receivable 25,000 50,000 Accounts payable 50,000 80,000 Notes payable Net income for the year Depreciation 100,000 75,000 200,000 60,000 Required: 4a. Compute the increase(decrease)in current assets and current liabilities 4b. Compute the cash provided(used) from operations The following information were given to you Sales. . Cost of sales. . Gross income is 35% of cost of sales ? . .P 500,000 ? ....... Required: 5.a. What is the sales percentage? 5.b. How much is the cost of sales? 5. c. How much is the gross profit?
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