RCS CONSULTANCY CORPORATION

Statement of Cash flows

For the year ended December 31, 2020

Operating Activities
Net profit 350,000
Building 150,000
Office Equipment 20,000
Less increase inAR -142000
Add Decrease in MI 24400
Less decrease in AP -24400
Less decrease in SP -40,000
add increase in ITP 119800
Cash provided from operations 457,800

Investing Activities
Sold land 400,000
sold building 300,000
purchased officed equipment -100,000
Cash provided from investing activities 600,000

Financing activities
issued shares 275000
less Acquisition of TS -105000
Less Dividends paid -300,000
Less Notes payable paid -40,000
Cash used in financing acitivities -170000

Net cash inflow for 2020 887,800

Add Beg Cash for 2019 202200
Cash Balance for December 31, 2020 1,090,000

Seat work 2
Sales revenue 18,000,000

Accounts receivable, Jan. 1 1,500,000

Accounts receivable, Dec. 31 800,000

18,700,000

Rent expense 3,100,000

Prepaid rent, January 1 500,000
Prepaid rent, December 31 720,000

3,320,000

Salaries expense 5,400,000

Salaries payable, January 1 50,000

Salaries payable, Dec. 31 120,000

5,330,000

Commission income 2,000,000

Unearned commission, Jan. 1 320,000

Unearned commission, Dec. 31 190,000

1,870,000

Seat work 3
1 operating expenses 180,000
less depreciation -35,000
add decrease on accrued expenses 12,000
157,000

2 collection from the customer 990,000

Less payment to supplier -650,000
interest paid -6,000
Tax paid -90,000
Less operating exp paid -157,000
87,000
SEATWORK4
QUESTION 1 Selling price 260,000
add loss 40,000
carrying value 300,000
less cost 400,000
100,000
add 180,000 difference of (1020000 and 1200000)
280,000
QUESTION 2
Machinery 2020 3,200,000
2019 2,500,000
 700,000
add mo yong nabenta 400,000
1,100,000

SEATWORK5

Oakwood Company provided the

following data for the year:
Cash balance, beginning of the
year 1,300,000

Cash flow from financing activities 1,000,000

Cash flow from operating activities 400,000

Cash flow from investing activities -1,500,000

Total shareholders’ equity,
beginning of the year 2,000,000
1,200,000

SEATWORK6

Increase in accounts receivable 300,000

Decrease in income tax payable 170,000

Depreciation 1,000,000
Net income 250,000
Gain on sale of equipment 440,000
Loss on sale of building 210,000
550,000

SEATWORK7
Sold an investment in Rate Motors 350,000
Acquired 4-year certificate of deposit from a bank. -500,000
Acquired 2,000 shares of Maybel Corporation -260,000
-410,000

SEATWORK8
Dividends paid 3,000,000

Proceeds from issuance of shares 2,500,000

Borrowings under a line of credit 2,000,000

Proceeds from issuance of
convertible bonds 1,000,000
2,500,000

SEATWORK 9
Catherine Company
 Statement of Cash flows
For the year ended December 31, 2020

Operating Activities
Net Income 175,000

increased in Accounts receivable -40,000

increased in Inventories -30,000

increased in Accounts payable 60,000

Less gain on sale -10,000
add depreciation expense 110,000
Cash provided from operations 265,000

Investing Activities
Sold equipment 100,000
purchased new equipment -70,000
Cash provided from investing activities 30,000

Financing activities
Paid dividends -120,000
purchased treasury shares -36,000
Cash used in financing acitivities -156,000

Net cash inflow for 2020 139,000

Add Beg Cash for 2019 230,000
Cash Balance for December 31, 2020 369,000

SEATWORK10

Cash beg 1,200,000

Cash end 2,100,000
Net cash provided 900,000

Cash flow from investing activities -2,500,000

Cash flow from financing activities -800,000

-3,300,000
cash flow from operating activities 4,200,000

SEATWORK11

Cash flow from operating activities 3,500,000

Cash flow from investing activities -4,800,000

Cash flow from financing activities 1,800,000 Cash endCash beg

500,000 1,500,000 1,000,000

SEATWORK12
Dividend received 500,000 +
Cash received from customers 9,000,000
+
Interest received 200,000 +
Cash paid to suppliers and 6,000,000
employees -
Interest paid on long term debt 400,000
-
Income taxes paid 300,000 -
3,000,000

SEATWORK13

Cash paid to purchase inventory 7,800,000

Cash paid for interest 450,000

Cash collected from customers 10,000,000

Cash paid for income taxes 1,320,000

430,000

SEATWORK14
net income for the current
year of 3520000
Depreciation of plant assets 1,480,000
Net decrease in noncash current 290,000
assets
Loss on sale of equipment 130,000
5,420,000

SEATWORK15
Sale of investment securities for 9,950,000
cash
Purchase of patent for cash 2,750,000
Acquisition of equity shares for 2,250,000
cash
(cash was borrowed from the
bank)
4,950,000
SEATWORK16
Purchase of land, with the vendor
financing P1,000,000 for 2 years
2,500,000
Purchase of plant for cash 2,500,000
Cash proceeds 400,000
4,600,000

SEATWORK17
Payment for the retirement of 3,700,000
bonds payable
Payment of cash dividend 300,000
declared in the prior year
Proceeds from the sale of treasury 500,000
shares
3,500,000

SEATWORK18
Net income 2,120,000 +
Depreciation 240,000 +
Amortization of patent 80,000 +
Gain on sale of land -200,000 2020 2019 -
Accounts receivable 60,000 620,000 680,000 +
Inventory -120,000 1,960,000 1,840,000 -
Accounts payable -140,000 380,000 520,000 -
Accrued expenses 160,000 500,000 340,000 +
2,200,000

SEATWORK19
Stone Company
Statement of Cash flows
For the year ended December 31, 2020

Operating Activities
net income 1,500,000 2020

increased in Accounts receivable -650,000 650,000 1,750,000

increased in Inventory -750,000 750,000 2,550,000
decreased Prepaid expenses 50,000 -50,000 100,000

increased in Accounts payable 250,000 250,000 1,250,000

decreased Accrued expenses -150,000 -150,000 50,000
Depreciation expense 350,000 350,000 1,150,000
Cash provided from operations 600,000
 Investing Activities
purchased PPE -1,000,000
Cash used from investing activities -1,000,000

Financing activities
Share capital 500,000 500,000 4,750,000
cash dividend paid -300,000
Cash provided in financing acitivities 200,000

Net cash outflow for 2020 -200,000

Add Beg Cash for 2019 950,000
Cash Balance for December 31, 2020 750,000

SEATWORK20
Forest Company
Statement of Cash flows
For the year ended December 31, 2020

Operating Activities

Net income 1733000 2020

increased inTrading securities
300,000
-100,000 100,000
increased inAccounts receivable,
net of allowance 600,000
-80,000 80,000
increased in Inventory -60,000 60,000 900,000
decreased in Accounts payable
490,000
-310,000 -310,000
increased in Accrued expenses
310,000
100,000 100,000
add depreciation expense 100,000
Cash provided from operations 1383000

Investing Activities
Cash used from investing activities 0

Financing activities
Cash dividends paid -1,000,000
issued shares 120,000
cash pad for bonds -210,000
Cash used in financing acitivities -1,090,000

Net cash nflow for 2020 293,000

Add Beg Cash for 2019 300,000
Cash Balance for December 31, 2020 593,000
Sales 2,400,000
Cost of goods sold 1,800,000
 Selling expenses 280,000
Administrative expenses 60,000
Interest expense 20,000
Gain on sale of equipment 10,000

2020 2019 Income tax expense 75,000

40,000 180,000 140,000 175,000

30,000 380,000 350,000

60,000 290,000 230,000

 2019

1,100,000
1,800,000
150,000

1,000,000
200,000
800,000
4,250,000

2019
200,000

520,000

840,000
800,000

210,000