Homework Help is Here – Start Your Trial Now!
Business
Accounting
4. Partial statement of cash flows From the following information, prepare the cash provided(used) from operations 2020 2019 Accounts receivable P 75,000 P 55,000 Notes receivable 25,000 50,000 Accounts payable 50,000 Notes payable Net income for the year 80,000 75,000 100,000 200,000 Depreciation 60,000 Required: 4a. Compute the increase(decrease)in current assets and current liabilities 4b. Compute the cash provided(used) from operations

4. Partial statement of cash flows From the following information, prepare the cash provided(used) from operations 2020 2019 Accounts receivable P 75,000 P 55,000 Notes receivable 25,000 50,000 Accounts payable 50,000 Notes payable Net income for the year 80,000 75,000 100,000 200,000 Depreciation 60,000 Required: 4a. Compute the increase(decrease)in current assets and current liabilities 4b. Compute the cash provided(used) from operations

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 13MCQ
See similar textbooks
icon
Related questions
Question

bs accountancy

4. Partial statement of cash flows From the following information, prepare the cash provided(used) from operations 2020 2019 Accounts receivable P 75,000 P 55,000 Notes receivable 25,000 50,000 Accounts payable 50,000 80,000 Notes payable Net income for the year Depreciation 100,000 75,000 200,000 60,000 Required: 4a. Compute the increase(decrease)in current assets and current liabilities 4b. Compute the cash provided(used) from operations The following information were given to you Sales. . Cost of sales. . Gross income is 35% of cost of sales ? . .P 500,000 ? ....... Required: 5.a. What is the sales percentage? 5.b. How much is the cost of sales? 5. c. How much is the gross profit?
Transcribed Image Text:4. Partial statement of cash flows From the following information, prepare the cash provided(used) from operations 2020 2019 Accounts receivable P 75,000 P 55,000 Notes receivable 25,000 50,000 Accounts payable 50,000 80,000 Notes payable Net income for the year Depreciation 100,000 75,000 200,000 60,000 Required: 4a. Compute the increase(decrease)in current assets and current liabilities 4b. Compute the cash provided(used) from operations The following information were given to you Sales. . Cost of sales. . Gross income is 35% of cost of sales ? . .P 500,000 ? ....... Required: 5.a. What is the sales percentage? 5.b. How much is the cost of sales? 5. c. How much is the gross profit?
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Financial Accounting Intro Concepts Meth/Uses
Financial Accounting Intro Concepts Meth/Uses
Finance
ISBN:
9781285595047
Author:
Weil
Publisher:
Cengage
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
SEE MORE TEXTBOOKS