Question
My statement of cash flows is not correct but I do not know how to fix it?? I have been working on this for hours.
My statement of cash flows is not correct but I do not know how to fix it?? I have been working on this for hours. Please explain to me how these journal entries would make up a Statement of Cash Flows
These are the journal entries that I used
Cash 20,000
Common Stock 20,000
Cash 11,000
Prefered stock $100 par 10,000
Additional Paid-in-Captial Pref. Stock 1,000
Treasury Stock 50,000
Cash 50,000
Cash Dividends10,000
Dividends Payable 10,000
Dividends Payable10,000
Cash 10,000
Stock Dividends 600
Common Stock Dividends Distribution500
Paid-in-Capital Excess of Par Common 100
Common Stock dividends distribution 500
Common Stock 500
Cash 500,000
Bonds payable500,000
Cash 105,250
Premium on bonds payable 5,250
Bonds Payable
100,000 10 2/28/2019
Interest Expense40,000
Interest payable 40,000
Bond Interest Expense2,000
Premium on bonds payable 875
Cash 2,875
Equipment 100,000
Cash 20,000
Notes Payable 80,000
Debt Investment40,000
Cash 40,000
Office Expense 30
Cash 30
Interest Receivable320
Interest Revenue 320
Stock Investment 27,750
Revenue from stock investment 27,750
Cash 5,550
Stock Investment 5,550
Unrealized Loss- Income 122,000
Fair Value Adjustment Avail for Sale 12,000
Stock Investment 100,000
Cash 100,000
Cash 17,500
Stock Investment 17,500
Stock Investment 70,000
Revenue from stock investment 70,000
Inventory 5,000
Cash 5,000
Cash 10,000
Sales Revenue 10,000
COGS 2000
Inventory 2,000
Supplies 1,000
Accounts Payable 1,000
Accounts Payable500
Cash 500
Accounts Receviable 15,000
Sales Revenue 15000
Accounts Payable 500
Cash 500
Cash 4,000
AR 4000
Cash 4,000
AR 4000
Cash 4,000
AR 4000
Inventory 50,000
Cash 50,000
Rent Expense2,000
Cash 2,000
Salaries and Wages Expenses 150
Cash 150
Inventory 1,500
Accounts Payable 1,500
Telephone Expense 350
Cash 350
Utility Expense300
Cash300
Land 10,000
Cash 10,000
Advertising Expense 30
Cash 30
Building 24000
Cash 24000
Bond Interest Expense 2,000
Premium on bonds payable 875
Cash 2875
Prepaid Insurance 3600
Cash 3,600
Insurance Expense 300
Prepaid Insurance 300
Depreciation expense 500
Ac. Depreciation- Building 500
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Cambridge IGCSE And O Level Accounting Coursebook
Authors: Catherine Coucom
2nd Edition
1316502775, 978-1316502778
