Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Help me please Ren Ren Merchandising Statement of Cash Flows For Year Ended December 31, 2016 Cash Flows from Operating Activities Receipts Collections from customers

Help me please

image text in transcribedimage text in transcribed
Ren Ren Merchandising Statement of Cash Flows For Year Ended December 31, 2016 Cash Flows from Operating Activities Receipts Collections from customers 2076P315,800 Rent income 30,000 Dividends income 12,000 Interest income 9,000 Payments Operating expenses oftalal (145,000) Interest expense ford Bozno (6,000) Net Cash from Operating Activities P215,800 Cash Flows from Investing Activities Receipts Proceeds from sale of equipment P 15,000 Proceeds from sale furniture 8,000 Payments For purchase of furniture (31,000) (8,000) Net Cash from Investing Activities Cash Flows from Financing Activities Receipts Additional investment of owner P 22,200 Proceeds of bank loan galbest200,000 WOY last Payments Cash withdrawal of owner (30,000) Payment of bank loan (150,000) Net Cash from FinancingActivities woll resp 42,200 Net Increase/Decrease in Cash P 250,000 Cash balance - January 1 200,000 Cash balance - December 31 P 450,000 de woll deso or! The beginning balance of cash is added to the net increase or decrease in cash resulting from the operating, investing, and financing activities in order to get the ending cash balance which is the same as the amount of the cash account presented in the statement of financial position. Notice that the P 450,000 cash balance as of December 31 is the balance of the cash account in the statement of financial position.II. Determine the net cash flow from operating activities of Happy Iianin for 2020 given the folovring data. Collection of accounts 990.000 Cash collection from patients 2,600,000 Depreciation expense 30,000 Cash purchase of equipment 110,000 Provision for bad debts 8.400 Dividends of stock investment received 14.000 Royalty income received 9,000 Operating expenses Principal of bank loan paid Interest on bank loan paid Proceeds from sale of furniture Cash balance on January 01, 2017 is 188,000. Required: 1. Net cash flow from operating activities 2. Net cash flow from investing activities 3. Net cash flowr from financing activities 4. Net increaseldecrease in cash 5. Cash balance December 31, 2017

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting

Authors: Anthony A Atkinson, Robert S Kaplan

5th Edition

136005314, 978-0136005315

More Books

Students also viewed these Accounting questions

Question

1. What will happen in the future

Answered: 1 week ago

Question

3. Avoid making mistakes when reaching our goals

Answered: 1 week ago