1. How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis . 2. What is the net increase or decrease in the Cash account for year 2021?

Requirement: Prepare the statement of cash flows. Use the direct method of presenting cash flows from operating activities.  I. Problem 1: Aling Dorry's cash balance on January 1, 2017 was P20,000. The following were the transactions that affected cash during the period: a. Collections from customers for the sale of goods, P580,000 b. Cash receipt from loan obtained from a bank, P180,000 c. Cash receipt from additional investment by owner, P20,000 d. Payments to suppliers for the purchase of inventory, P120,000 e. Payments for employees salaries, P140,000 f. Payments for rent expense, P70,000 g. Payments for utilities expense, P20,000 h. Payments for the acquisition of equipment, P200,000 i. Cash disbursements for drawings by owner, P60,000   II. State whether the following accounts is used added or deducted on the accrual basis profit. a. Depreciation expense _________________________ b. Losses on sale of PPE ________________________ c. Increase in inventory ________________________…

Preparing the Statement of Cash Flows: Indirect Method E8A. Keeper Corporation's income statement for the year ended June 30, 2014, and its comparative balance sheets for June 30, 2014 and 2013 follow. Keeper Corporation Income Statement For the Year Ended June 30, 2014 Sales Cost of goods sold Gross margin Operating expenses Operating income Interest expense Income before income taxes Income taxes expense Net income Assets Keeper Corporation Comparative Balance Sheets June 30, 2014 and 2013 Cash Accounts receivable (net) Inventory Prepaid expenses Furniture Accumulated depreciation-furniture Total assets Liabilities and Stockholders' Equity Accounts payable Income taxes payable Notes payable (long-term) Common stock, $10 par value Retained earnings Total liabilities and stockholders' equity 2014 $ 69,900 21,000 43,400 3,200 55,000 (9,000) $183,500 $ 13,000 1,200 37,000 115,000 17,300 $183,500 $234,000 156,000 $ 78,000 45,000 $ 33,000 2,800 $ 30,200 12,300 $ 17,900 2013 $ 12,500 26,000…

Computing operating activities cash flow—indirect method The accounting records of CD Sales, Inc. include the following accounts: Compute CD’s net cash provided by (used for) operating activities during July 2018. Use the indirect method.

Calculate cash balances based on the information provided in the chart below and show me how you did it Pro Forma Cash Flow Cash Received               Cash from Operations       Cash Sales $24,198 $100,099 $122,460 Cash from Receivables $46,108 $217,218 $342,905 Subtotal Cash from Operations $70,306 $317,317 $465,366         Additional Cash Received       Sales Tax, VAT, HST/GST Received $0 $0 $0 New Current Borrowing $0 $0 $0 New Other Liabilities (interest-free) $0 $0 $0 New Long-term Liabilities $0 $40,000 $0 Sales of Other Current Assets $0 $0 $0 Sales of Long-term Assets $0 $0 $0 New Investment Received $0 $0 $0 Subtotal Cash Received $70,306 $357,317 $465,366         Expenditures Year 1 Year 2 Year 3         Expenditures from Operations       Cash Spending $167,000 $225,200 $229,200 Bill Payments $75,294 $124,114 $152,785 Subtotal Spent on Operations $242,294 $349,314 $381,985         Additional Cash Spent       Sales Tax,…

Prepare a complete statement of cash flows using the indirect method for the current year. Note: Amounts to be deducted should be indicated with a minus sign.   Golden Corporation's current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. GOLDEN CORPORATION Comparative Balance Sheets December 31   Current Year Prior Year Assets     Cash $ 178,000 $ 122,400 Accounts receivable 104,000 85,000 Inventory 622,000 540,000 Total current assets 904,000 747,400 Equipment 372,700 313,000 Accumulated depreciation—Equipment (165,000) (111,000) Total assets $ 1,111,700 $ 949,400 Liabilities and Equity…

6.  Use the following excerpts from Brownstone Company’s financial statements and complete the worksheet below to determine cash received from customers in 2018. From Balance Sheets         Dec. 31, 2018                     Dec. 31, 2017 Accounts Receivable           $25,000                                  $20,000 From Income Statement:        2018   Sales                                      220,000 PLEASE NOTE: You are to follow the format shown in the textbook. Cash Collected from Sales Revenue         ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]

Use the following information from Coconut Company's financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. Dec. 31, 2018 Dec. 31, 2017 Cash Accounts Receivable Inventory Prepaid Rent Accounts Payable $201,000 22,000 33,750 6,000 19,500 $175,000 21.500 30,500 2,000 28,750 Additional information: 55,000 11,500 Net income Depreciation expense HTML Editor B IUA▼A▼1 E三三 x V反 G . 三E ¶ T 12pt EPE