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

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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