Reference no: EM132493175
Statement of Cash Flow
The information shown below is taken from the accounts of the Robinson Corporation for the year ended December 31, 2011.
Net income ...................................................................... $ 209,000
Amortization of intangible (franchise) ............................ 12,000
Proceeds from issuance of common stock.......................103,000
Increase in inventory ...................................................... 18,000
Sale of building at a $10,000 gain ..................................... 85,000
Increase in accounts payable ........................................... 15,000
Purchase of computer equipment ................................... 125,000
Payment of cash dividends .............................................. 24,000
Depreciation expense ..................................................... 35,000
Increase in accounts receivable ....................................... 23,000
Payment of mortgage ...................................................... 52,000
Decrease in short-term notes payable ............................. 8,000
Sale of land at a $5,000 loss .............................................. 26,000
Purchase of delivery truck ............................................... 33,000
Cash at beginning of year ................................................ 173,000
Instructions:
Question a: How do create statement of cash flows for Robinson Corporation for the year ended December 31, 2011.
Question b: How do create THE STATEMENT OF CASH FLOW ON THE ATTACHED SPREADSHEET
Bank Reconciliation
High-Tech Company of New York has provided you with the following cash account information for the month. The company's cash book had a cash balance of $ 5,815.30 while the company's bank account at Fleet Bank showed the balance of $ 7,075.80. A comparison of the cash book and the bank statement revealed the following details:
1. Bank service charge for July was $ 25.
2. The bank collected a note receivable of $ 1,200 for R & J Company on July 15, plus $ 48 of interest. The bank made a $ 10 charge for the collection.
3. The July receipts of $1,819.60 were not included in the July deposits.
4. Company check No. 2480 issued to G. Subway a creditor for $ 492 that cleared the bank in July was incorrectly entered in the cash payment journal in July for $ 429.
5. Checks outstanding in July totaled $ 2,480.10.
6. On July 31, the bank statement showed an NSF check of $ 550 for a check received by company from B.N. Diet a customer on account.
Instructions:
Question c: How do prepare the bank reconciliation for July 2019
Question d: How do prepare the necessary adjusting entries at July 31, 2019