Activity #5: Classify Instructions: Classify each of the following transactions as cash flow from operating activities (0), cash flow from investing activities (1), or cash flow from financing activities (F). Transactions that do not affect the CFS should be identified as N/A. Then prepare the CFS. The following transactions pertain to the operations of Happy Events, an events planning company owned by Jessie Natividad. The entity had the following transactions during the month: a) Received P180,000.00 cash investment from the owner b) Provide P400,000.00 services on account c) Incurred P220,000.00 operating expenses on account d) Collected P320,000.00 cash from accounts receivable e) Allowed P30,000.00 cash withdrawal to the owner of the business f) Paid P160,000.00 cash on accounts payable g) Performed services for P30,000.00 cash

Activity #5: Classify Instructions: Classify each of the following transactions as cash flow from operating activities (0), cash flow from investing activities (1), or cash flow from financing activities (F). Transactions that do not affect the CFS should be identified as N/A. Then prepare the CFS. The following transactions pertain to the operations of Happy Events, an events planning company owned by Jessie Natividad. The entity had the following transactions during the month: a) Received P180,000.00 cash investment from the owner b) Provide P400,000.00 services on account c) Incurred P220,000.00 operating expenses on account d) Collected P320,000.00 cash from accounts receivable e) Allowed P30,000.00 cash withdrawal to the owner of the business f) Paid P160,000.00 cash on accounts payable g) Performed services for P30,000.00 cash

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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