Problem: Prepare and Compute for statement ofCash Flows.(Please refer to the picture) da.E afen.Problem: Prepare and Compute for statement ofCash FlowsThe following data are taken from the records of Butt I Que for the year 2018.Legal fees received from clientsDepreciation expenseProceeds of bank loansCash purchase of landProvision for bad debtsPhp 408,00070,000504,0001,100,00018,000300,000200,00023,00032,0007,240360,000600,00094,000860,000Additional investment of Atty. QuePartial payment of bank loanCommission income receivableResearch Income receivedTaxes and licences PayableOperating expenseCollection of accountsInterest on Bank loan paidProceeds from sale of EquipmentCash balance on January 1,2018 isPhp 200,000

1. Following incomes are not actually received in cash till year end, therefore not taken into…

Problem: Prepare and Compute for statement of Cash Flows The following data are taken from the records of Butt I Que for the year 2018. Legal fees received from clients Depreciation expense Proceeds of bank loans Cash purchase of land Provision for bad debts Additional investment of Atty. Que Partial payment of bank loan Commission income receivable Research Income received Taxes and licences Payable Operating expense Collection of accounts Interest on Bank loan paid Proceeds from sale of Equipment Php 408,000 70,000 504,000 1,100,000 18,000 300,000 200,000 23,000 32,000 7,240 360,000 600,000 94,000 860,000 Cash balance on January 1,2018is Php 200,000

Problem: Prepare and Compute for statement of Cash Flows The following data are taken from the records of Butt I Que for the year 2018. Legal fees received from clients Depreciation expense Proceeds of bank loans Cash purchase of land Provision for bad debts Additional investment of Atty. Que Partial payment of bank loan Commission income receivable Research Income received Taxes and licences Payable Operating expense Collection of accounts Interest on Bank loan paid Proceeds from sale of Equipment Php 408,000 70,000 504,000 1,100,000 18,000 300,000 200,000 23,000 32,000 7,240 360,000 600,000 94,000 860,000 Cash balance on January 1,2018is Php 200,000

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 43E: Determining Cash Flows from Financing Activities Solomon Construction Company reported the following...

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