1. Invested $200,000 to start JHJ rental car company 2. Paid cash of $10,000 for supplies 3. Paid cash of $24,000 on July I for one-year insurance policy 4. Purchased equipment on account in the amount of S10,000 5. Purchased S15,000 in supplies on account 6. Paid advertising expense of $10,000 7. Purchased ten autos for $30,000 each paying $50,000 down and signed a note for the balance 8. Received cash car rental revenue $400,000 9. Paid office salaries of $80,000 10. Paid rent expense of $40,000 I1. Car rental revenue earned from corporate customers on account S100,000 12. Paid on accounts payable $20,000 13. Collection of cash from corporate customers S100,000 14. Invested an additional S100,000 in the business 15. Received cash car rental revenue Ss00,000 16. Paid sales salaries of $300,000 17. Car rental revenue carned from corporate customers $50,000 18. Collection of cash from corporate customers 25,000 19. Paid rent expense of $40,000 20. Paid delivery expenses of $4,000 21. Ending supplies inventory $20,000 REQUIRED. Prepare Statement of Cash Flow
1. Invested $200,000 to start JHJ rental car company 2. Paid cash of $10,000 for supplies 3. Paid cash of $24,000 on July I for one-year insurance policy 4. Purchased equipment on account in the amount of S10,000 5. Purchased S15,000 in supplies on account 6. Paid advertising expense of $10,000 7. Purchased ten autos for $30,000 each paying $50,000 down and signed a note for the balance 8. Received cash car rental revenue $400,000 9. Paid office salaries of $80,000 10. Paid rent expense of $40,000 I1. Car rental revenue earned from corporate customers on account S100,000 12. Paid on accounts payable $20,000 13. Collection of cash from corporate customers S100,000 14. Invested an additional S100,000 in the business 15. Received cash car rental revenue Ss00,000 16. Paid sales salaries of $300,000 17. Car rental revenue carned from corporate customers $50,000 18. Collection of cash from corporate customers 25,000 19. Paid rent expense of $40,000 20. Paid delivery expenses of $4,000 21. Ending supplies inventory $20,000 REQUIRED. Prepare Statement of Cash Flow
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 10DQ
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