Problem 2: Cash Flow activities The following business activities are available for the month of August. 1. Borrowed money from a bank, P120,000. 2. Bought supplies on open account, P5,000. 3. Received cash from customers in payment of account, P10,000. 4. Purchased equipment issuing 30-day promissory note, P30,000. 5. Paid Meralco for the electric 9bill for the month, P5,000. 6. The owner withdrew P10,000 for his personal use. 7. Bought furniture on credit, P6,000. 8. Paid P20,000 as partial payment of account with a bank. 9. Paid P15,000 as rental for the office space. 10. A customer was billed P8,500, and he issued 30-day promissory note. 11. Collected in full the note issued by a customer, P15,000. 12. Recorded the office supplies consumed during the month, P1,500. 13. Recorded salaries for the month, P50,000. 14. The owner withdrew P20,000 in payment of his son s tuition fee. 15. Rendered services to a client, receiving cash for the 50% and a 30-day not for the balance, P30,000. 16. Issued a 30-day note in full settlement of an open account with a supplier, P15,000. 17. A customer deposited P10,000 as guarantee for future delivery on services. 18. Purchased a duplicating machine for cash, P50,000. 19. Paid water bill, P1,450 20. Rendered professional services on account, P30,000.
Problem 2:
The following business activities are available for the month of
August.
1. Borrowed money from a bank, P120,000.
2. Bought supplies on open account, P5,000.
3. Received cash from customers in payment of account, P10,000.
4. Purchased equipment issuing 30-day promissory note, P30,000.
5. Paid Meralco for the electric 9bill for the month, P5,000.
6. The owner withdrew P10,000 for his personal use.
7. Bought furniture on credit, P6,000.
8. Paid P20,000 as partial payment of account with a bank.
9. Paid P15,000 as rental for the office space.
10. A customer was billed P8,500, and he issued 30-day promissory
note.
11. Collected in full the note issued by a customer, P15,000.
12. Recorded the office supplies consumed during the month,
P1,500.
13. Recorded salaries for the month, P50,000.
14. The owner withdrew P20,000 in payment of his son s tuition fee.
15. Rendered services to a client, receiving cash for the 50% and a
30-day not for the balance, P30,000.
16. Issued a 30-day note in full settlement of an open account with
a supplier, P15,000.
17. A customer deposited P10,000 as guarantee for future delivery
on services.
18. Purchased a duplicating machine for cash, P50,000.
19. Paid water bill, P1,450
20. Rendered professional services on account, P30,000.
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