J. The general ledger of M. Cerda Consulting Service Cash Accounts Receivable Furniture and Equipment Accumulated Depreciation Accounts Payable М. Сеrda, Capital M. Cerda, Drawing Consulting Fees Below are the data needed for adjustments: 1. Office Rentals for May and June at P 5.000 per month were still unpaid at Jun 30 2. Insurance paid on January 1 was for a one year period. 3. Advertising for the month of June of P 1,000 was still unpaid. ·4, One-half of the P 9 600 collected in advance on June 1 for consulting services is P 152,360 70,500 150,000 30,000 66,000 247,350 72,000 393,480 Office Supplies Expense Insurance Expense Salary Expense Advertising Expense Rent Expense Taxes and Licenses Expense 16,820 Utilities Expense Miscellaneous Expense 18,850 10,800 139,600 11,000 50,000 31,250 13,65

J. The general ledger of M. Cerda Consulting Service Cash Accounts Receivable Furniture and Equipment Accumulated Depreciation Accounts Payable М. Сеrda, Capital M. Cerda, Drawing Consulting Fees Below are the data needed for adjustments: 1. Office Rentals for May and June at P 5.000 per month were still unpaid at Jun 30 2. Insurance paid on January 1 was for a one year period. 3. Advertising for the month of June of P 1,000 was still unpaid. ·4, One-half of the P 9 600 collected in advance on June 1 for consulting services is P 152,360 70,500 150,000 30,000 66,000 247,350 72,000 393,480 Office Supplies Expense Insurance Expense Salary Expense Advertising Expense Rent Expense Taxes and Licenses Expense 16,820 Utilities Expense Miscellaneous Expense 18,850 10,800 139,600 11,000 50,000 31,250 13,65

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter1: Accounting And The Financial Statements

Section: Chapter Questions

Problem 50E: Exercise 1-50 Statement of Cash Flows OBJECTIVE o Walters Inc. began operations on January I. 2019....

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Exercise 1-50 Statement of Cash Flows OBJECTIVE o Walters Inc. began operations on January I. 2019. The following information relates to Walters cash flows during 2019. Required: 1. Calculate the cash provided/fused for each cash flow category. 2. CONCEPTUAL CONNECTION Comment on Walters creditworthiness.
Account Titles Debit CreditCash $ 7Accounts Receivable 3Supplies 3Equipment 9Accumulated Depreciation $ 2Software 6Accumulated Amortization 2Accounts Payable 4Notes Payable (short-term) 0Salaries and Wages Payable 0Interest Payable 0Income Taxes Payable 0Deferred Revenue 0Common Stock 15Retained Earnings 5Service Revenue 0Depreciation Expense 0Amortization Expense 0Salaries and Wages Expense 0Supplies Expense 0Interest Expense 0Income Tax Expense 0Totals $ 28 $ 28Transactions during 2018 (summarized in thousands of dollars) follow:Borrowed $25 cash on July 1, 2018, signing a six-month note payable.Purchased equipment for $28 cash on July 2, 2018.Issued additional shares of common stock for $5 on July 3.Purchased software on July 4, $3 cash.Purchased supplies on July 5 on account for future use, $7.Recorded revenues on December 6 of $58, including $8 on credit and $50 received in…
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