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    The document contains journal entries for Anya Service Company for the year. It records revenues of $300,000 from services, expenses of $150,000 for salaries, $40,000 for rent and $30,000 for utilities. It also records the purchase of equipment for $120,000 and furniture for $80,000, and the sale of furniture for $75,000 resulting in a $5,000 gain. The statement of cash flows shows cash from operating activities of $150,000, cash used in investing of $125,000, and cash from financing of $1,900,000 from owner investments and withdrawals, resulting in a total net cash increase of $1,925,000.

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    The document contains journal entries for Anya Service Company for the year. It records revenues of $300,000 from services, expenses of $150,000 for salaries, $40,000 for rent and $30,000 for utilities. It also records the purchase of equipment for $120,000 and furniture for $80,000, and the sale of furniture for $75,000 resulting in a $5,000 gain. The statement of cash flows shows cash from operating activities of $150,000, cash used in investing of $125,000, and cash from financing of $1,900,000 from owner investments and withdrawals, resulting in a total net cash increase of $1,925,000.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    8 views4 pages

    Sadjalfa

    Uploaded by

    Mondays And
    The document contains journal entries for Anya Service Company for the year. It records revenues of $300,000 from services, expenses of $150,000 for salaries, $40,000 for rent and $30,000 for utilities. It also records the purchase of equipment for $120,000 and furniture for $80,000, and the sale of furniture for $75,000 resulting in a $5,000 gain. The statement of cash flows shows cash from operating activities of $150,000, cash used in investing of $125,000, and cash from financing of $1,900,000 from owner investments and withdrawals, resulting in a total net cash increase of $1,925,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 4

    Journal Entries

    Furniture 80,000 Cash 2,000,000


    Accumulated Depreciation -10,000 Capital
    Carrying value 70,000
    Equipment 120,000
    Sale Price 75,000 Cash
    Carrying Value 70,000
    Gain on sale 5,000 Office furniture 80,000
    Cash
    Journal Entries
    Cash 300,000
    Service Revenue

    Salaries Expense 150,000


    Cash

    Rent Expense 40,000


    Cash

    Utilities expense 30,000


    Cash

    Cash 70,000
    Accounts Receivable

    Drawing 100,000
    Cash

    Cash 75,000
    Accumulated Depreciation 10,000
    Furniture
    Gain on sale of asset

    ANYA SERVICE COMPANY


    STATEMENT OF CASH FLOWS
    FOR THE YEAR ENDED

    Cash flows from operating activities


    Cash received from service revenue
    Payment of salaries
    Payment of rent
    Payment of utilities
    Receivables collected
    Net cash from operating activities
    Cash flows from investing activities
    Purchase of equipment
    Purchase of office furniture
    Proceeds from sale of furniture
    Net cash from investing activities

    Cash flows from financing activities


    Investment by the owner
    Withdrawal by the owner
    Net cash from financing activities

    Net cash flow


    add: beginning of the year
    Cash, end
    2,000,000

    120,000

    80,000

    Accounts Receivable 200,000


    300,000 Service Revenue 200,000

    150,000

    40,000

    30,000

    70,000

    100,000

    80,000
    5,000

    NYA SERVICE COMPANY


    ATEMENT OF CASH FLOWS
    FOR THE YEAR ENDED

    ervice revenue 300,000


    -150,000
    -40,000
    -30,000
    70,000
    ting activities 150,000
    -120,000
    -80,000
    75,000
    ting activities -125,000

    2,000,000
    -100,000
    ing activities 1,900,000

    1,925,000
    0
    1,925,000

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