ASSIGNMENT 06A NUNMERICAL ANSWER.1. Ela Manalo, the proprietress of Manalo Slimming Center, presented the following adjustedaccount balances as of January 31, 2018:Cash on hand and in bankUtilities expenseAccounts receivableDepreciation expense5,9601,2008,0001,1001,0001,8004,00030060032,0004,50048,63082088,0006,0001,450Allowance for doubtful accountsRent expenseNotes receivableInterest incomeSuppliesService feesManalo, drawingManalo, CapitalPrepaid rentBuildingAccounts payableSalaries payableAccumulated depreciationUnearned service fees18.0008,600Compute for the following: (Show computations)1. Profit (Loss) - please indicate if it is "Profit" or Loss"2. Capital balance at the end (after closing entries)3. Total assets4. Total labilities2. On Jan. 3, 2018, ABC Company showed a cash balance of P320,000 and incurred thefollowing:2018 TransactionsJan. 10Feb 1Made additional capital investment, P200,000 worth of computer.Purchased tables and chairs amounting to P50,000, paid P25000 cash and thebalance on account.Mar 15April 31May 1balancesJune 15Aug 31Received proceeds from a bank loan amounting to P455,000.Mr. A withdrew P38,500 cash for personal use.Received from all account customers P228,000 payment on their accountPaid 25% of Mar 15 bank loan plus P15,500 interestReceived P420,000 advance payment from DEF Inc. for services to be renderedSept 31Dec 28in the future.Sold steel cabinet with a book value of P40,000 for P35,000Paid P74,000 expenses incurred in rendering consulting services. Compute for the following: (Show computations)1. Net cash flow from operating activities - please indicate if it is "Net Inflow or "NetOutflow2. Net cash flow from imvesting activities - please indicate if it is "Net Inflow" or NetOutflow3. Net cash flow from financing activities - please indicate if it is "Net Inflow" or "NetOutflow4. Cash balance at the end of the periodB. ADJUSTING ENTRIES: More Review Show (MRS) prepares quarterly statements. Thebookkeeper presented to you the recards and you found out the following account balancesbefore adjustments for the quarter ended March 31, 200B:1. The notes receivable balance of P180,000 as of March 31, 200B consisted of a 60-day 12%note for P120,000 dated February 14, 2008 and a 30-day 6% note for P60,000 dated March16, 20082. The balance of the prepaid insurance account of P22,000 represents a one-year policycontracted last November 1, 200A for P10,000 and two year policy contracted last July 1, 200Åfor P12,0003. The balance of the prepaid rent account of P50,000 pertains to advance rent paid lastDecember 1, 200A six months effective on the same date.4. The rate per day of each of the four shop workers is P350. MRS pays the weekly salaries ofits workers every Monday of the following week (a week consist of five days from Monday toFriday). March 31, 200B falls on Thursday.5. Mortgage notes payable had a credit balance of P200,000 as of March 31, 200B. Interest atthe rate of 12% is payable semi-annually every August 1 and February 1. MRS regularly paidthe interest paymentsRequired: Prepare necessary adjusting entries as of March 31, 200B (Indicate the no. ofyour entry)

Financial statement means the trading and profit and loss account and balance sheet of the company…

A NUNMERICAL ANSWER. 1. Ela Manalo, the proprietress of Manalo Simming Center, presented the following adjusted account balances as of January 31, 2018: 5,960 1,200 8,000 Cash on hand and in bank Ubilities expense Accounts receivable Depreciation expense Allowance for doubtful accounts Rent expense Notes receivable 1,100 1,000 1,800 4,000 300 600 32,000 Interest income Supplies Service fees Manalo, drawing Manalo, Capital Prepaid rent Building Accounts payable Salaries payable Accumulated depreciation 4,500 48,630 820 88,000 6,000 1,450 18,000 8,600 Uneamed service fees Compute for the following: (Show computations) 1. Profit (Loss) - please indicate if it is "Profit" or Loss 2. Capital balance at the end (after closing entries) 3. Total assets

A NUNMERICAL ANSWER. 1. Ela Manalo, the proprietress of Manalo Simming Center, presented the following adjusted account balances as of January 31, 2018: 5,960 1,200 8,000 Cash on hand and in bank Ubilities expense Accounts receivable Depreciation expense Allowance for doubtful accounts Rent expense Notes receivable 1,100 1,000 1,800 4,000 300 600 32,000 Interest income Supplies Service fees Manalo, drawing Manalo, Capital Prepaid rent Building Accounts payable Salaries payable Accumulated depreciation 4,500 48,630 820 88,000 6,000 1,450 18,000 8,600 Uneamed service fees Compute for the following: (Show computations) 1. Profit (Loss) - please indicate if it is "Profit" or Loss 2. Capital balance at the end (after closing entries) 3. Total assets

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 2EB: In which section of the statement of cash flows would each of the following transactions be...

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