Prepare a Cash Flow Statement Oct-15Purchases5102,500Cash1012,500To record additional purchase on cashCashOct-181015,000Sales4015,000To record sold merchandise on cashFreight-Out644150Oct-19Cash101150To record freight on saleCashOct-21101100Accounts Receivable112100To record refund paymentSalaries ExpenseUtilities ExpenseRent ExpenseAdvertising Expense2,0009501,200500Oct-23630645635631Cash1014,650To record payment of expensesOwner's, DrawingOct-243021,000Cash1011,000To record withdrawalOct-25Accounts Receivable500Sales500To record sales on accountCashNotes PayableTo record bank loanNO ENTRYOct-3010110,00020210,000Oct-31 General JournalDateParticularsPRDRCROct-01Cash101P30,000P30,000Owner's CapitalTo record initial investmentPurchasesAccounts PayableTo record purchase on accountFreight-In301Oc-0251010,00020110,000Oct-03516145Cash101145To record freight on purchaseEquipmentOct-061302,400Cash1012,400To record bought equipment on cashAccounts PayableOc-072012,000Purchase Returns & Allowances5122,000To record purchase refundAccounts ReceivableOct-081124,500Sales4014,500To record sales on accountAccounts PayablePurchase DiscountsOct-092018,000513160Cash1017,840To record payment on account with2% discountSales Returns & AllowancesAccounts ReceivableTo record refund to credit customerCashSales DiscountsAccounts ReceivableTo record collection from sales onaccountOct-11412200112200Oct-141014,214413861124,300

Cash flow statement means the statement which shows the cash flow in or out of business enterprises…

Answered: Prepare a Cash Flow Statement

Business

Accounting

Prepare a Cash Flow Statement

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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Question

Prepare a Cash Flow Statement

Oct-15
Purchases
510
2,500
Cash
101
2,500
To record additional purchase on cash
Cash
Oct-18
101
5,000
Sales
401
5,000
To record sold merchandise on cash
Freight-Out
644
150
Oct-19
Cash
101
150
To record freight on sale
Cash
Oct-21
101
100
Accounts Receivable
112
100
To record refund payment
Salaries Expense
Utilities Expense
Rent Expense
Advertising Expense
2,000
950
1,200
500
Oct-23
630
645
635
631
Cash
101
4,650
To record payment of expenses
Owner's, Drawing
Oct-24
302
1,000
Cash
101
1,000
To record withdrawal
Oct-25
Accounts Receivable
500
Sales
500
To record sales on account
Cash
Notes Payable
To record bank loan
NO ENTRY
Oct-30
101
10,000
202
10,000
Oct-31

General Journal
Date
Particulars
PR
DR
CR
Oct-01
Cash
101
P30,000
P30,000
Owner's Capital
To record initial investment
Purchases
Accounts Payable
To record purchase on account
Freight-In
301
Oc-02
510
10,000
201
10,000
Oct-03
516
145
Cash
101
145
To record freight on purchase
Equipment
Oct-06
130
2,400
Cash
101
2,400
To record bought equipment on cash
Accounts Payable
Oc-07
201
2,000
Purchase Returns & Allowances
512
2,000
To record purchase refund
Accounts Receivable
Oct-08
112
4,500
Sales
401
4,500
To record sales on account
Accounts Payable
Purchase Discounts
Oct-09
201
8,000
513
160
Cash
101
7,840
To record payment on account with
2% discount
Sales Returns & Allowances
Accounts Receivable
To record refund to credit customer
Cash
Sales Discounts
Accounts Receivable
To record collection from sales on
account
Oct-11
412
200
112
200
Oct-14
101
4,214
413
86
112
4,300

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