Question

The Double-Enbry Accounting System What asount of lubilicics would Rayanort on the 2906 halance sheet Exercise 3-12A ng a T-accosat to deternine cesh flow from apenating activiies River Ca began the acounting period wih a 5332.000 debit balance in its Aceunts Rocble LO 3-1 account. During the ccounting period, Rivar Ce camed nevenue on account o $180,0 The ding Accots Raccivahle balance was 51160o0 Required on this informuation alonc determine the durmg the awreeting pried 48w Use a Two "โศ~ww.ts Raumalk Emr and oredits fo the given eve and solve lion the mining am ns Exercise 3-13Asing a T-accont to detcrsine cesh fow frem openeting activits The Garden Company began the accounting period with a Se0,000 crodit hallance in its Accots Payatle aooust. Daring the accoenting period, Gandes Co iscamed espemes on accoust of 1 52,000 The ending Accoants Payable baawa S64,000 Required Baseld on this infron, deersine the amount of cash oflow for expesses daring the ac mising amount brose 3-14A Recordi evews İ"the generat jwnalend id:werying their effect LO 3-2 Required Rocoed cach of the following tansactions ia gencral journal foem and then show the cffoct of the tramaction in a horsental statoments model. The first tranaction is shown as an cxampl Account Tile Service Rev Performed 58,300 of h Collected 00 cash on accounts roceivable ePaid S1.450 cash in advance lor an invarance policy Recceded the adjusting entry to rooognine 5300 of insurance expeRs L Reconded the adjusting entry to rooognine 5200 accrued intcrest sevec Reoived 1.600 cash for services to be porformod at a later dte Exercise 3-15A Rinconding prepaid itoms and idemtifring heir effect on financial Cherokoc Company began operations when it issaed commson stock for 550,000 cash pai 960,000 cash in advance Sor a one-ycar costract to lase delivery oquipm for dhe busineI "pod the lene agreement on March1 . 31%, which wa, dative-moditety. Cherokee reuevod

Answer 1

Exercise 3-12A
Accounts Receivables
Beg. Bal	$132,000		$196,000
	$180,000
End. Bal	$116,000
Cash Inflow - $196000
Exercise 3-13A
Accounts Payables
	$148,000	Beg. Bal	$60,000
			$152,000
		End. Bal	$64,000
Cash Outflow - $148000

Exercise 3-14A
	Journal Entries
	Account Titles	Debit	Credit
a	Accounts receivables	$8,200
	Service Revenue		$8,200
	(To record service performed on account)
b	Cash	$5,600
	Accounts receivable		$5,600
	(To record cash collected on accounts receivable)
c	Prepaid Insurance	$1,450
	Cash		$1,450
	(To record cash paid for insurance policy)
d	Cash	$800
	Accounts Payable		$800
	(To record cash paid on accounts payable)
e	Insurance Expense	$300
	Prepaid Insurance		$300
	(To record insurance expense for the period)
f	Interest receivable	$200
	Interest revenue		$200
	(To record accrued interest revenue)
g	Cash	$1,600
	Unearned Service Revenue		$1,600
	(To record cash received in advance for service to be performed)
h	Land	$9,000
	Cash		$9,000
	(To record land purchased on Cash)
i	Supplies	$350
	Cash		$350
	(To record supplies purchased on cash)

	Effect of the transaction
	Assets	-	Liabilities	=	Equity	Revenue	-	Expense	=	Net Income	Cash Flow
a	8200				8200	8200				8200	NA
b	0				0					0	OA
c	0				0					0	OA
d	-800		-800		0					0	OA
e	-300				-300			300		-300	NA
f	200				200	200				200	NA
g	1600		1600		0					0	OA
h	0				0					0	IA
i	0				0					0	OA
	OA -Operating Activity
	IA - Investing Activity
	NA - Not applicable