Juana's sari-sari store had the following transactions during the year: a. Purchase of goods. Paid cash Php
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Question:
a. Purchase of goods. Paid cash Php 100,000
b. Sales of goods. Received cash Php 150,000
c. Paid utilities Php 30,000
d. Paid rent Php 10,000
e. Sold equipment for cash Php 100,000
f. Owner withdraws investment Php 10,000
Compute for the net cash flow generated by/used in operating activities
2. Using the given above, compute for the net cash flow generated by/used in investing
activities.
3. The company presented following in order to aid the accountant in preparing the CFS:
a. Net income: Php 200,000
b. Depreciation Expense: Php 25,000
c. Gain on sale expenses: Php 100,000
d. Decrease in trade and other receivables: Php 70,000
e. Purchase of property and equipment: Php 200,000
f. Payment of loan from bank: Php 150,000
Compute for the cash generated/used in financing activities.
4. Based on the given in number 3, compute for the net change in cash for the year.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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