TRUE OR FALSE: Read each sentence carefully and determine whether the statement isTrue or False. Write your answers in the space provided before the number.1. The Statement of Cash Flows shows the amount of cash received and used inthe business organized according to operating, investing, and financingactivities.2. Cash payment for bank loan are reported under cash flows from operatingactivities.3. If the company has no accounts receivable balance at the beginning and at theend of the year, then net sales reported in the Statement of ComprehensiveIncome will most likely be equal to the cash received from customers reported inthe SCF.4. Payments for acquisition of a merchandise inventory are reported as investingactivities.5. Statement of Cash Flows explains the observed difference in the cash balancefrom the beginning to the end of the period.6. Business activities are classified into operating, investing and funding activitiesin the SCF.7. Salary and utility payments are reported as operating activities.8. Noncash expenses such as depreciation and amortization are deducted from thenet income to arrive at the cash flows from operating activities.9. A negative cash flow from investing activities is bad indicator of the company'sability to generate cash.10. The bottom line of the Statement of Cash Flow is equivalent to the cash balancepresented in the SFP.COMPREHENSIVE PROBLEMJuana's sari-sari store had the following transactions during the year:a. Purchase of goods. Paid cash. 100,000b. Sale of goods. Received cash. 150,000c. Paid utilities 30,000d. Paid rent 10,000e. Sold equipment for cash 100,000f. Owner withdraws investment 10,0001.Compute for the net cash flow generated by/used in operating activities2.Using the given above, compute for the net cash flow generated by/used in investingactivities.Using the given above, compute for the net cash flow generated by/used in financingactivities.3.4.Using the given above, prepare a Cash Flow Statement using direct method.

Hi student Since there are multiple questions, we will answer only first question. Since first…

Answered: TRUE OR FALSE: Read each sentence…

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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SFP stands for the statement of financial statement . IS stands for Income statement that includes the revenues and expenses of the company. Please help. Thank you!
In the Excel, or spreadsheet, approach to recording financial transactions, cash paid to creditors is recorded as a decrease in the Cash column and as a decrease in the Retained Earnings column.
Assume that Sohar Paper Cores LLC sold goods to its customer and received the check of OMR 5000. The cashier immediately entered in the cash book and deposited check in the bank. After 2 days the company received the bank statement in which the deposited check amount not yet recorded. Therefore while preparing the Bank Reonciliation statement, what adjustment the accountant will do? Choose the correct answer from the following given options. a. Less OMR 5000 from the bank statement balance b. Add OMR 5000 to bank statement balance C. Add OMR 5000 to the cash book balance d. Less OMR 5000 from the cash book balance
For a statement to be true, each part must be true. One detail can make an entire statement false. Write T if the statement is true. If the statement is false, write F. 1.) Borrowing cash from the bank causes assets to increase and liabilities to increase.2.) Providing services to customers for cash causes stockholders’ equity to increase.
Just only answer the true of false activity, thanks!
Indicate if the following transactions increase or decrease cash and classify the transactions as Operating, Investing or Financing Activities Enter I For increase and D for decrease. Enter O for Operating, I for Investing, and F for Financing. 1. Pay taxes D O 2. Collect cash from customers I O 3. Issue common stock F 4. Take out a loan from a bank 5. Purchase stock in another company I 6. Sell government debt security 7. Buy a patent 8. Retire a bonds payable 9. Pay dividends 10. Pay insurance 11. Pay interest on a loan 12. Pay principal on a loan 13. Pay salaries 14. Repurchase treasury stock 15. Sell a copyright to another firm 16. Pay suppliers for inventory 17. Dividend payments received from stock investment. 18. Interest payments received from investment in government debt securities.
At August 31, Saladino Coffee has the following bank information: cash balance per bank Rp5.200.000, outstanding checks Rp1.462.000, deposits in transit Rp1.211.000, and a bank debit memo Rp110.000. Determine the adjusted cash balance per bank at July 31. Cash balance per bank Add : ... Less : ... Adjusted cash balance per bank The information below relates to the Cash account in the ledger of Saladino Coffee Balance Rp10.094.000 Collection of electronic funds transfer Rp884.000 Interest earned on checking accounts Rp26.000 NSF check: R. Doll Rp245.000 Rp35.000 Safety deposit box rent Cash balance per books Add: *** *** Less *** Adjusted cash balance per books
Please answer the following using the image attached. Thank you 1. Cash Received from customers 2. Cash payment for Salaries 3. Cash payment for Operating Expenses 4. Cash payment for Income Tax 5. Cash Flows from Operating Activities 6. Cash Flows from Investing Activities 7. Cash Flows from Financing Activities 8. Cash flows from acquiring and selling products are classified as 9. Cash flows from acquiring and disposing long-term assets are classified as 10. Cash flows from borrowings and paying of debts are classified as
Prepare a complete statement of cash flows using the direct method. Note: Amounts to be deducted should be indicated with a minus sign.
I need help with question is solution
Financial Statement is a formal record of the financial activities and position of a busi- ness, person, or other entity. Do you think it is a good strategy for a business to have a huge amount of cash in bank? (10 Sentences)
if the company paid the salaries payable in the next period, the transaction will be as bellow cash debit, salaries payable credit. cash debit , salaries credit. salaries expense debit, cash credit. salaries payable debit, cash credit. Note collection in the bank reconciliation will be Add to the balance per bank. Deduct from balance per bank. O Add to the balance per book. Deduct from balance per book. cost of goods sold equal to O Goods available for sale mince beginning inventory. O Net sale mince goods available for sale Net purchase mince beginning inventory. beginning inventory blues net purchase mince ending inventory

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