form4 bonnie

Accounts Payable is also known as......

• Debtors

• Creditors

• People you are going to get money from

• Accounts Paid

Accounts Payable is also known as......

• Debtors

• Creditors

• People you are going to get money from

• Accounts Paid

 

Accounts Receivable can also be known as

• Debtors

• Creditors

• Bank Account

• People that you owe money to

What are the first two lines in the formula to calculate Cash paid to Accounts Payable?

• Opening Accounts Payable

  plus Credit Purchases (invoices received)

• Opening Accounts Payable

  plus Cash Purchases

• Opening Accounts Payable

  less bad debts

• Opening Accounts Payable

  less Closing Accounts Payable

What 3 items might you see in the Payments section of the Cash flow statement?

• Cash purchases

• Depreciation

• Wages

• Loan Repayment

Total Receipts - Total Payments = Net increase / (decrease) in cash. But what else also equals Net increase / (decrease) in cash?

• Total Profit

• Revenue - expenses

• Opening Bank Balance

• Closing Bank Balance

  less the Opening Bank Balance

When calculating Cash from Accounts Receivable what are the first two lines of the formula?

• Opening Accounts Receivable

  plus credit purchases (invoices received)

• less bad debts

  less discount allowed

• Opening Accounts Receivable

  plus credit sales (invoices issued)

• less closing Accounts Receivable

  equals Amount received from Accounts Receivable

Categorize if the transaction is Operating, Investing or Financing:

Cash received from borrowings.

• Operating

• Investing

• Financing

• Non-cash transaction

Assuming, you owned a sari-sari store and had a beginning cash amounting of P50, 000 and the following transactions occurred during the month, compute for the net cash generated from operating activities.

1.  Purchase of goods. Paid in cash. - 100, 000

2. Sales of goods. Received cash. - 150, 000

3.    Paid utilities - 30, 000

4.   Paid rent - 10, 000

5.    Sold equipment for cash - 100, 000

6.     Owner withdraws investment - 10, 000

• 10,000

• -10,000

• 100,000

• 150,000

• -

The following would appear in which section of the cash flow statement?

Cash received from sale of furniture (company’s main line of business is not related to furniture)

• Operating

• Investing

• Financing