The document provides financial information for AJ Company for the year ended December 31, 20X1. It lists cash receipts and payments for the year. The student was asked to prepare the operating, investing, and financing sections of AJ Company's statement of cash flows for the full year. The response provides well-formatted sections for operating, investing and financing cash flows with calculations and balances shown for the year ended December 31, 20X1.
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The document provides financial information for AJ Company for the year ended December 31, 20X1. It lists cash receipts and payments for the year. The student was asked to prepare the operating, investing, and financing sections of AJ Company's statement of cash flows for the full year. The response provides well-formatted sections for operating, investing and financing cash flows with calculations and balances shown for the year ended December 31, 20X1.
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Name: Niña Elaine T.
Gerez Grade and Section: 12 – Wedgwood
Teacher: Mr. Jerry Matas Date: October 7, 2022
The cash account of AJ Company has the beginning balance of P129,937.50.
Its year-end balance stands at P254,935.00. The table below show the summarized transactions from the cash account of AJ Company. Cash received from customers P725,175.00 Payments to suppliers 300,537.50 Payments for other operating expenses 58,850.00 Salaries paid 19,992.50 Purchase of Equipment 253,000.00 Sale of delivery equipment(motorcycle) 6,875.00 Proceeds from sale of computer equipment 42,762.50 Withdrawals of owners 229,350.00 Proceeds from bank loan 82,500.00 Contributions of owners 137,500.00 Interest paid 8,085.00
1. Prepare the operating section of AJ’s Statement of Cash Flows.
2. Prepare the investing section of AJ’s Statement of Cash Flows. 3. Prepare the financing section of AJ’s Statement of Cash Flows. Answer:
AJ Company
Statement of Cash Flows
For the year ended December 31, 20X1
Cash flow from operating activities
Cash received from customers ₱725, 175.00 Payments to suppliers (300, 537.50) Payments for other operating expenses (58, 850.00) Salaries paid (19, 992.50) Net cash flow provided by operating activities ₱345, 795.00
Cash flow from investing activities
Purchase of equipment ₱ (253, 000.00)
Sale of delivery equipment (motorcycle) 6, 875.00
Proceeds from sale of computer equipment 42, 762.50
Net cash flow used in investing activities (₱203, 362. 50)
Cash flow from financing activities
Contributions of owners ₱137, 500.00
Proceeds from bank loan 82, 500.00
Withdrawals of owners (229, 350.00)
Interest paid (8, 085.00)
Net cash flow provided by financing activities (₱17, 435.00)
Net change in cash ₱124, 997.50
Cash and cash equivalents, January 1, 20X1 129, 937.50
Cash and cash equivalents, December 31, 20X1 ₱254, 935.00