QUESTION: Construct the statement of cash flow:Hyrule Motors, a motorcycle repairs and maintenance services provider, had the following transaction during 2020, its first month of operations:January 1. The owner, Link, invested P1,000,000 cash to start the business.January 1. Hyrule Motors bought computer equipment totaling P240,000 using cash.January 1. Bought furniture and fixtures using cash, P400,000.January 1. Bought machineries totaling P500,000 on account.January 3. Bought office supplies amounting 50,000 cash.January 7. Rendered services amounting to P800,000, on account.January 8. Rendered services amounting to P200.000 cash.January 13. Paid 300,000 for the machineries bought on January 1.January 27. Received P400,000 cash as payment for the services rendered onJanuary 31. January 31. Paid P100,000 for the month's utilities.Hyrule MotorsWorksheetFor the Year Ended December 31, 2020AdjustmentsCreditAdjusted Trial BalanceCreditBalance SheetCreditTrial BalanceDebitP240,000400,00050,000360,000500,000240,000400,000Income StatementAccount TitleDebitP240,000425,00050,00090,000500,000240,000400,000No.CreditDebitDebitCreditDebitP240,000425,00050.00090,000500.000240,000400,000110Cash120P25,000Accounts ReceivableOffice Supplies140 Prepaid Rent150 | Machineries160 Computer Equipment170 Furniture and Fixtures210 Accounts Payable220 | Utilities Payable230Link, CapitalService RevenueUtilities Expense130P270,000P200,000P200,00050,00045,0001,000,0001,070,000P200.00050,00045,0001,000,00050,000Unearned Revenue90,0001,000,0001,000,00045,00031041070,000P1,070,000P150,000270.000P420,000 P1,070,000 P1,945,000 P1,295,000650.000P1,070,000 P1,070,000 P1,945,000 P1,945,000100.00050,000270,000P390,000150,000270.000P390,000 P2,365,000 P2,365,000510520Rent ExpenseP2,290,000 P2,290,000Profit650,000

In this question we have to calculate cash flow it helps in determining the inflow and outflow of…

Hyrule Motors, a motorcycle repairs and maintenan January 1. The owner, Link, invested P1,000,000 ca January 1. Hyrule Motors bought computer equipme January 1. Bought furniture and fixtures using cash January 1. Bought machineries totaling P500,000 o January 3. Bought office supplies amounting 50,000

Hyrule Motors, a motorcycle repairs and maintenan January 1. The owner, Link, invested P1,000,000 ca January 1. Hyrule Motors bought computer equipme January 1. Bought furniture and fixtures using cash January 1. Bought machineries totaling P500,000 o January 3. Bought office supplies amounting 50,000

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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