Activity #3: Application and Creation in Philippine pesos. Case A-Crysta Below are the cash transactions of Crystal Trading for December 31, 2016 (25,000) 50,000 (5,000) 25,000 115,000 100,000 1,500,000 Cash payments to suppliers of goods and services Cash receipts from rendering of services Payments to owners Proceeds from bank loans Proceeds from cash investment of owners Payment for acquisition of equipment Cash at the beginning of the year Prepare the statement of cash flows using the direct/indirect method. After which, answer the following questions. • How much is cash flow from operating activities? • How much is cash flow from investing activities? • How much is cash flow from financing activities? • How much is the net increase or decrease in cash for the year? • How much is cash as at December 31, 2016?

Activity #3: Application and Creation in Philippine pesos. Case A-Crysta Below are the cash transactions of Crystal Trading for December 31, 2016 (25,000) 50,000 (5,000) 25,000 115,000 100,000 1,500,000 Cash payments to suppliers of goods and services Cash receipts from rendering of services Payments to owners Proceeds from bank loans Proceeds from cash investment of owners Payment for acquisition of equipment Cash at the beginning of the year Prepare the statement of cash flows using the direct/indirect method. After which, answer the following questions. • How much is cash flow from operating activities? • How much is cash flow from investing activities? • How much is cash flow from financing activities? • How much is the net increase or decrease in cash for the year? • How much is cash as at December 31, 2016?

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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9/The business has the following transactions for the month of May 2019. 9- Sold goods and received cash of RO 2,750 11- Received commission of RO 750 17- Received cash from KR traders of RO 3,300 for the goods sold on May 4 2019, on credit. 19- Sold goods to Rainbow traders and received cash of RO 3,250 Calculate and show the amount which will be transferred to the Cash sales column in the cash receipts book for the month of May 2019? a. RO 750 b. RO 6,000 c. RO 3,300 d. RO 3,500
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7. Assuming a 365-day year, how long (in average days) does the collectibles from customers stay as outstanding accounts receivable if Company Z has a total sale of $1,800,000 of which $200,000 are cash sales and the beginning and ending accounts receivable balances are $30,000 and $50,000, respectively. 11.40 days O 9.13 days 6.84 days 8.11 days
Preparation of SCF for a Single Proprietorship Instructions: Prepare a Statement of Cash Flows for the year ended December 31,2020 the using the following account titles listed. Use the Direct Method. You may use any desired business name. Use the space provided for your answer. Cash from Clients – 450,000 Cash Payment for merchandise – 410,500 Cash receipt from additional investment of owner – 114,450 Cash receipt from sale of equipment - 15,000 Cash withdrawal by the owner – 80,000 Cash, January 1, 2020 - 120,000 Credit sales – 35,000 Depreciation expense – 15,410 Paid loan from a bank - 111,000 Payment to interest expense – 10,000 Payment to suppliers – 20,000 Payment to utilities – 30,000 Payments to Employees – 14,800
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4. On May 31, 2018 the cash book of a trading organization showed a balance of Rs. 15,600 inbank account and bank statement showed a balance of Rs. 40,000. The comparison of cash bookand bank statement disclosed the following points:a) Cheques of Rs. 5,000, Rs. 15,000 and Rs. 50,000 were issued to different suppliersduring May 2018 but only a cheque of Rs. 5000 was presented for payment into the banktill May 31, 2018.b) A cheque of Rs. 25,000 was deposited into the bank but it was not cleared till the last dayof the month.c) Bank deducted cheque book charges Rs. 500 but it was not recorded in the cash book.d) A cheque of a customer for Rs.14500 was dishonoured but this effect was not recorded inthe cash book.e) Withholding tax Rs. 600 was deducted during the month on cash withdrawal but it wasnot recorded in the cash book.f) A cheque of Rs. 51000 was issued for the purchase of merchandise but it was recorded inthe cash book as Rs. 15,000g) A cheque of Rs. 25000 was deposited into the…
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21) Solo traders has the following transactions for the month of February 2019. 9- Goods purchased and paid cash of RO 2,200 14- Paid Salaries of RO 800 19- Paid cash of RO 8,400 to Ali mart for the goods purchased on credit. 24- Paid RO 6,600 to Black traders for the goods purchased on credit. Calculate and show the amount which will be transferred to Account payable column of Cash payments book for the month of February 2019? a. RO 8,400 b. RO 2,200 c. RO 15,000 d. RO 800
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! Required information [The following information applies to the questions displayed below.] On January 1, 2024, the general ledger of 3D Family Fireworks includes the following account balances: Accounts Cash Debit Credit $25,300 Accounts Receivable 14,300 Allowance for Uncollectible Accounts $1,600 Supplies 3,200 Notes Receivable (6%, due in 2 years) 27,000 Land 77,700 Accounts Payable 9,800 103,000 33,100 $147,500 $147,500 Common Stock Retained Earnings Totals During January 2024, the following transactions occur: January 2 Provide services to customers for cash, $42,100. Write off accounts receivable as uncollectible, $1,800. (Assume the company uses the allowance method) Pay cash for salaries, $32,100. January 6 Provide services to customers on account, $79,400. January 15 January 20 January 22 Receive cash on accounts receivable, $77,000. January 25 Pay cash on accounts payable, $6,200. January 30 Pay cash for utilities during January, $14,400. 3. Prepare an adjusted trial…
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