FINANCIAL ACCT-CONNECT
FINANCIAL ACCT-CONNECT
8th Edition
ISBN: 9781266627903
Author: Wild
Publisher: INTER MCG
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Chapter 12, Problem 5PSA
Summary Introduction

Cash Flow Statement:

Cash flow statement are refer as the statement which shows inflow and outflow of the cash in the business organization. Cash flow from operating activities can be made by two methods.

  1. Direct Method
  2. Indirect Method

To determine: Computation of Cash Flow statement by direct method and disclose non-cash investing and financing activities in notes.

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MC Qu. 12-40 Which of the following would be... Which of the following would be classified as an operating activity on the statement of cash flows using the direct method? Multiple Cholce Cash dividends pald. Cash recelved from selling equlpment. Cash pald to retire bonds payable at maturity. Cash recelved from accounts recelvable collections. < Prev 30 of 30 Next Type here to search W Trop storm warning DELL
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,…
31 REQUIRED: 1. At what amount should cash as a current asset appear in the balance sheet? 2. How will the other accounts be reported? Exercise 1-4 An analysis of the Cash account of the HYACINTH COMPANY revealed the following details as of Dec. 31, 2019: 1. Petty cash fund (cleared of non-fund items) 2. Change fund 3. Undeposited collections 4. Cash in bank- BDO 5. Cash in bank-BDO 6. Cash in bank-sinking fund 7. Cash deposited with a closed bank 8. Demand deposits with Bank of America 9. Time deposit (60 days) with China Bank 10. Cash in bank- for building construction P4,700 2,000 8,000 20,000 (4,000) 40,000 12,000 80,000 120,000 240,000 REQUIRED: 1. At what amount should cash as a current asset appear in the balance sheet? 2. How will the other accounts be reported? Exercise 1-5 The cash account of the EVERGREEN COMPANY showed a credit balance of P20,000 after checks totaling P45,000 have been prepared in payment of outstanding liabilities with suppliers and credited to cash in…

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FINANCIAL ACCT-CONNECT

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