Please make the Statement of cash flows. 201220,00046,00017,500201127,50070,00010,00090,00030,00047,500120,000CashAccounts ReceivableInvestments, at costProperty, Plant & EquipmentAccumulated depreciationAccounts Payable65,00022,50037,500Lena, Capital88,500Additionalinformation:an investment wassold for $12,500during the year.There was nodisposal of property,plant andequipment duringthe year.the net income forthe year was $30,000, after incometax expense of P12,000.a personal withdrawal of P23,500 was made on December 31, 2011.

Answered: Please make the Statement of cash…

Business

Accounting

Please make the Statement of cash flows.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter5: Adjusting Entries And The Work Sheet

Section: Chapter Questions

Problem 1MC: LO1 The purpose of depreciation is to (a) spread the cost of an asset over its useful life. (b) show...

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Question

Please make the Statement of cash flows.

2012
20,000
46,000
17,500
2011
27,500
70,000
10,000
90,000
30,000
47,500
120,000
Cash
Accounts Receivable
Investments, at cost
Property, Plant & Equipment
Accumulated depreciation
Accounts Payable
65,000
22,500
37,500
Lena, Capital
88,500
Additional
information:
an investment was
sold for $12,500
during the year.
There was no
disposal of property,
plant and
equipment during
the year.
the net income for
the year was $30,
000, after income
tax expense of P12,
000.
a personal withdrawal of P23,500 was made on December 31, 2011.

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