Prepare a Balance Sheet and Cash Flow Statements for Adam’s Pharmaceuticals. Cash Rs15,000 Investments Rs30,000 Land 70,000 Salary Payable 3,000 Tools 30,000 Buildings 51,000 Machinery 80,000 Office Furniture 46,000 Notes Payable 10,000 Revenues 70,010 Capital 50,000 Cash Balance (previous month): 15,000 Cash increase due to Revenue: 17000 Collection for Sale of Tools: 75,000 Building purchased: 17,510 Purchase of Land: 10500 Cash increase due to Revenue: Adam’s 17000 Investment: 1500 Expenses paid in Cash: 570

Prepare a Balance Sheet and Cash Flow Statements for Adam’s Pharmaceuticals. Cash Rs15,000 Investments Rs30,000 Land 70,000 Salary Payable 3,000 Tools 30,000 Buildings 51,000 Machinery 80,000 Office Furniture 46,000 Notes Payable 10,000 Revenues 70,010 Capital 50,000 Cash Balance (previous month): 15,000 Cash increase due to Revenue: 17000 Collection for Sale of Tools: 75,000 Building purchased: 17,510 Purchase of Land: 10500 Cash increase due to Revenue: Adam’s 17000 Investment: 1500 Expenses paid in Cash: 570

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Description: Prepare a Balance Sheet and Cash Flow Statements for Adam’s Pharmaceuticals.Cash Rs15,000 Investments Rs30,000Land 70,000 Salary Payable 3,000Tools 30,000 Buildings 51,000Machinery 80,000 Office Furniture 46,000Notes Payable 10,000 Revenues 70,010Cap

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 19EB: A business has the following transactions: A. The business is started by receiving cash from an...

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A business has the following transactions: A. The business is started by receiving cash from an investor in exchange for common stock $10,000. B. Rent of $1,250 is paid for the first month. C. Office supplies are purchased for $375. D. Services worth $3,450 are performed. Cash is received for half. E. Customers pay $1,250 for services to be performed next month. F. $6,000 is paid for a one year insurance policy. G. We receive 25% of the money owed by customers in D. H. A customer has placed an order for $475 of services to be done this coming week. How much total revenue does the company have?
Krespy Corp. has a cash balance of $7,500 before the following transactions occur: A. received customer payments of $965 B. supplies purchased on account $435 C. services worth $850 performed, 25% is paid in cash the rest will be billed D. corporation pays $275 for an ad in the newspaper E. bill is received for electricity used $235. F. dividends of $2,500 are distributed What is the balance in cash after these transactions are journalized and posted?
Calculate the net working capital of the company Using the following information. Cash $2,000 Account receivables $3,500 Intangible assets $9,000 Cash eQuivalent $6,000 Marketable securities $5,000 Notes payable (3%, due in 3 months) $4,000 Prepaid expenses $12,000 Current po1tion of long-te1m loans $7,000 Accrned expenses $6,770 Short term loans $4550 Answer choices: Net working capital $ 9, Net working capital $15, Net working capital $ 11, Net working capital $ 6,
The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the year ended December 31, 2011:Cash and cash equivalents, Jan. 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 35,800Cash and cash equivalents, Dec. 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74,800Cash paid to acquire plant assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,000Proceeds from short-term borrowing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000Loans made to borrowers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,000Collections on loans (excluding interest) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,000Interest and dividends received . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27,000Cash received from customers . . . . . . . . . . . . . . . . . .…
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Yi Min started an engineering firm called Min Engineering. He began operations and completed seventransactions in May, which included his initial investment of $18,000 cash. After those seven transactions,the ledger included the following accounts with normal balances. Cash . . . . . . . . . . . . . . . . . . $37,600Office supplies. . . . . . . . . . 890Prepaid insurance. . . . . . . 4,600Office equipment. . . . . . . $12,900Accounts payable. . . . . . . 12,900Y. Min, Capital. . . . . . . . . . 18,000Y. Min, Withdrawals . . . . . . . . . . . $ 3,370Engineering fees earned. . . . . . . 36,000Rent expense. . . . . . . . . . . . . . . . 7,540 Required 1. Prepare a trial balance for this business as of the end of May. 2. The following seven transactions produced the account balances shown above. a. Y. Min invested $18,000 cash in the business. b. Paid $7,540 cash for monthly rent expense for May. c. Paid $4,600 cash in advance for the annual insurance premium beginning the next period. d.…
The company started August w/ cash of P320,000 receivable of P77,000 and equipment of P500,000 . Total liabilities amount to P90,300. How much is the total of all transactions metioned inthe capital of the company from beginning balance to ending balance? The following transactions were dealt with by Daria Company for the month of August: * Purchase of supplies worth P18,000 paid In cash* Rendered services to customer in which payment is yet to be received P20,000* Paid salaries of P10,000
The company started August w/ cash of P320,000 receivable of P77,000 and equipment of P500,000 . Total liabilities amount to P90,300. How much is the total of all transactions metioned inthe capital of the company from beginning balance to ending balance? * Prepare Journal Entry The following transactions were dealt with by Daria Company for the month of August: * Purchase of supplies worth P18,000 paid In cash* Rendered services to customer in which payment is yet to be received P20,000* Paid salaries of P10,000
Randy's Cooking School has accrual basis net income of $189,000 and the following related items: Amortization expense $68,000 Accounts receivable decrease 24,000 Inventory increase 17,000 Interest payable decrease 8,000 Bank loans payable increase 12,000 Dividends paid 10,000 What is Randy's Cooking School's net cash flow from operating activities? Select one: a. $258,000 b. $248,000 c. $256,000 d. $268,000 e. $246,000
XYZ Boutique had the following accounts at year end: Cash $250,000, Accounts Payable $70,000, Prepaid Expense $15,000, Non-current assets $500,000.00. What percentage of the boutique's total assets is current assets?
Mr. Juan Lopez launched Lopez Fiesta Mart on December 1, 2022 with a cash investment of ₱220,000. The following are additional transactions for the month: 2 Mr. Lopez invested equipment for the business worth ₱30,000. 3 Bought supplies on account for ₱12,600. 4 Acquired a service vehicle costing ₱75,000. A payment of ₱33,000 cash was made and a promissory note was given for the remainder, payable for 6 equal monthly installment. 5 Purchased merchandise from JKL Enterprises ₱45,500, Term, 3/20, n/30. 8 Paid ₱1,200 delivery charge for December 5 purchase. 10 Sold merchandise on account ₱37,000, Term, 3/10, n/30. Cost of Merchandise, ₱25,000. 11 Paid ₱700 freight for December 10 transaction. 13 Returned defective merchandise to JKL Enterprises amounting to ₱8,500. 15 Paid salaries, ₱12,300 16 Signed a promissory note for ₱25,000 loaned amount from Commonwealth Bank. 17 Received returned merchandise from customers on December 10, ₱4,000. 18 Paid…
A company has the following account balances. Cash $160,000 Equipment 50,000 Inventory 35,000 Accounts receivable 25,000 Accrued wages 10,000 Long-term debt 30,000 Accounts payable 5,000 What is the company’s net working capital? A.$220,000 B.$205,000 C.$225,000 D.$180,000