Prepare SCF. NOTE: There are transactions that do not affect the CFS that should be identified. The following transactions pertain to the operating of Happy Events, an events planning company owned by Jessie Natividad. The entity had the following transactions during the year of 2021. January 1, 2021, cash balance - 63,450 a. Received 180,000 cash investment from the owner b. Provided 400,000 services on account c. Incurred 220,000 operating expenses on account. d. Collected 320,000 cash from accounts receivable e. Allowed 30,000 cash withdrawals to the owner of the business f. Paid 160,000 cash on accounts payable g. Performed services for 30,000 cash h. Paid 12,000 cash for expenses i. Purchase of delivery equipment 35,000
Prepare SCF. NOTE: There are transactions that do not affect the CFS that should be identified. The following transactions pertain to the operating of Happy Events, an events planning company owned by Jessie Natividad. The entity had the following transactions during the year of 2021. January 1, 2021, cash balance - 63,450 a. Received 180,000 cash investment from the owner b. Provided 400,000 services on account c. Incurred 220,000 operating expenses on account. d. Collected 320,000 cash from accounts receivable e. Allowed 30,000 cash withdrawals to the owner of the business f. Paid 160,000 cash on accounts payable g. Performed services for 30,000 cash h. Paid 12,000 cash for expenses i. Purchase of delivery equipment 35,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please help me solve this accounting problem
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Prepare SCF.
NOTE: There are transactions that
do not affect the CFS that should
be identified.
The following transactions pertain
to the operating of Happy Events,
an events planning company
owned by Jessie Natividad. The
entity had the following
transactions during the year of
2021.
January 1, 2021, cash balance -
63,450
a. Received 180,000 cash
investment from the owner
b. Provided 400,000 services on
account
c. Incurred 220,000 operating
expenses on account.
d. Collected 320,000 cash from
accounts receivable
e. Allowed 30,000 cash
withdrawals to the owner of the
business
f. Paid 160,000 cash on accounts
payable
g. Performed services for 30,000
cash
h. Paid 12,000 cash for expenses
i. Purchase of delivery equipment
35,000
II
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