Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Preparation of statement of cash flow statement using direct method
San Garza Properties has been in business for many years. On December 31, 2006, the firm's cash balance was $9,121. During January of 2007, the 14 events on the following page were recorded in the company's accounting system.
Assets
=
Liabilities
+
Owner's Equity
Date
Accounts
Cash
Other Assets
Contributed Capital
Retained Earnings
1
18,000
Bank Loan Payable
2
Rent Expense
(3000)
3
Office Furniture
5,500
(5,500)
4
Merchandise
9,000
Accounts Payable
5
10,000
Common stock
6
Adverting Receivable
(2,200)
7
Accounts Receivable
Sales Revenue
8
(7,500)
Costs of Goods Sold
9
8,100
(8,100)
10
(7,000)
11
Computer Equipment
4,800
(4,800)
12
Wages Expense
(1,400)
Wages Payable
1,400
13
Dividends
(2,000)
14
(5,000)
Interest Expense
(5,135)
(135)
Ending Amounts
$6,465
$21,700
$16,400
$10,000
$1,765
Required: Prepare a statement of cash flows for the month of January 2007. Use good form and the direct format.
Explain why the accounting treatment is different in the general Fund and governmental activities general journals.
Purpose a combined cost of goods sold and Income Statement
Evaluate the unknowns in Big Chuck's abbreviated cash budget and evaluate the outstanding loan balance as of September 30, after any repayments have been made.
What will be the net book value of the machine at the end of its 8 th yr of use before it is disposed of, under each depreciation method?
What does the balance of the account represent? Where should the account appear in Southwest Airlines' financial statements?
What is the cost of the raw materials requisitioned in June for each of the three jobs?
Target Corporation in 2007 reported net income of $2.9 billion, net sales of $61.5 billion, and average total assets of $41.0 billion. What is Target’s asset turnover ratio? What is Target’s rate of return on assets?
What amount(s) related to the bonds would Baddour report in its income statement for the year ended September 30, 2011? What amount(s) related to the bonds would Baddour report in its statement of cash flows for the year ended September 30, 2011? I..
What amount should be used to consolidate Placo's cost of goods sold into Limko's income statement under the temporal method?
Adria Lopez created Success Systems on October 1, 2013. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer.
Purpose a cash Budget for the first two quarters and make an operating budget for the first and second quarters of operations of Terry's Equipment Center.
Calculate the total amount of dividends declared by March for 20X7 and calculate March's profit for 20X8.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd