TACC401 Principles of Accounting Week 3:  Cash flow Statement

TACC401 Principles of Accounting

TACC401 Principles of Accounting  

Week 3:  Cash flow Statement

Seminar Guide

Seminar Activity 3.1:  Transactions and Financial Statements

I. Cover decided to open Recover Upholstery Repairs on 1 January 2018.  She contributed office equipment valued at $10 000 and a commercial van valued at $12 000, and deposited $5 000 cash in a business bank account.  Transactions during January were:

Jan    4       Took a three-year lease on a shop and paid the first month’s rent $350.

          4       Purchased office supplies for $260, and issued a cheque for $100 in part payment for these supplies.

          6       Cash received for minor repairs, $120.

          6       Revenue earned for repair work for Shipshape Ltd on credit, $350.

          7       Purchased an upholstery sewing machine for $1 840, paying $400 cash with the balance to be paid at a later date.

          8       Cash revenue earned $230.

        11       Engaged an upholsterer at an agreed wage of $350 per week.

        12       Paid petrol $20, postage $10, and electricity bill $30.

        13       Cash of $200 received for over-the-counter repairs

        13       Revenue of $450 earned from sales to a customer on credit.

        14       Paid the balance owing for office supplies purchased on 4th Jan 2018.

        15       The owner withdrew $100 for her own use.

        16       Office supplies purchased for $250 on credit.

        17       Cash revenue received $365.

        18       Paid weekly wages to the upholsterer.

        21       Revenue earned for repairs: cash $80, on credit $170.

        23       Shipshape Ltd paid the bill for services rendered on 6th Jan 2018.

        24       Petrol expenses paid $20.

        25       Paid weekly wages to the upholsterer.

        28       Revenue earned for repair work $390, receiving $100 in cash and the remainder to be paid at a later date.

  • Office supplies used $200.

Required

Complete a worksheet for the month of January using the above data and prepare an income statement, cash flow statement and balance sheet at 31st January.

(Adapted from a problem in Bazely, M., P. Hancock, A. Berry and R. Jarvis, 1998,  Contemporary Accounting – a conceptual approach,  (3rd edition), Nelson, Melbourne.)

Worksheet of Recover Upholstery Repairs
Assets=Liabilities+Equity
 Cash at OfficeAccountsOfficeVehicleSewing Accounts CapitalProfit &
 bank SuppliesReceivableEquipment Machine Payable  Loss
1            
4            
             
6            
             
7            
8            
12            
             
             
13            
             
14            
15            
16            
17            
18            
21            
23            
24            
25            
28            
31            
TOTALS            
Recover Upholstery Repairs
Income Statement
For the month ended 31st January 2018
$
Fee revenue 
  
Less Other Expenses 
Petrol 
Office supplies 
Electricity 
Rent 
Postage 
Wages 
  
Net Profit 

                                                                 
Recover Upholstery Repairs 
Balance Sheet
as at 31st January 2018
$
Current assets 
Cash at bank 
Office supplies 
Accounts receivable 
Total Current Assets 
  
Non current assets 
Office equipment 
Vehicle 
Sewing machine 
Total Non Current Assets 
Total Assets 
  
Current liabilities 
Accounts payable 
Total Current Liabilities 
  
Non-current liabilities 
 
Total Non Current Liabilities 
Total Liabilities 
  
Net Assets 
  
Owner’s equity 
Capital 
Add Net Profit 
Total Owner’s Equity 
  Recover Upholstery Repairs 
Cashflow Statement
for the month ended 31st January 2018
$
Cash flows from operating activities 
Cash receipts from customers 
Cash paid to suppliers and employees 
Net cash from operating activities 
  
Cash flows from investing activities 
Part payment for sewing machine 
Net cash from investing activities 
  
Cash flows from financing activities 
Capital contributed by owner 
Drawings by owner 
Net cash from financing activities 
  
Net change in cash 
Cash at the beginning of the month 
Cash at the end of the month 

Seminar Activity 3.2:  Group Discussion

 

  • For each of the 16 events described in the following table, select one of the following four letters to indicate whether they would be:

F             recorded in a cash flow statement as financing activity

O           recorded in a cash flow statement as operating activity

I             recorded in a cash flow statement as investing activity

N            not recorded in a cash flow statement at all

 
1. Received money from debtors
2. Paid an insurance premium
3. Paid a dividend that had been declared in the previous year
4. Purchased inventory for cash
5. Sold furniture and equipment for cash
6. Paid wages for the current year
7. Paid wages related to the previous year
8. Sold shares in the company for cash to raise capital
9. Repaid part of a loan
10. Paid interest on a loan
11. Paid for shares in another company (to be held for more than 1 year)
12. Paid tax on the previous year’s profits
13. Wrote off bad debts
14. Purchased land and buildings for cash
15. Received payment from customers for goods to be provided next year
16. Recorded depreciation on non-current assets
Order Now

Get expert help for TACC401 Principles of Accounting and many more. 24X7 help, plag free solution. Order online now!

Universal Assignment (July 18, 2025) TACC401 Principles of Accounting Week 3:  Cash flow Statement. Retrieved from https://universalassignment.com/tacc401-principles-of-accounting-week-3-cash-flow-statement/.
"TACC401 Principles of Accounting Week 3:  Cash flow Statement." Universal Assignment - July 18, 2025, https://universalassignment.com/tacc401-principles-of-accounting-week-3-cash-flow-statement/
Universal Assignment March 10, 2023 TACC401 Principles of Accounting Week 3:  Cash flow Statement., viewed July 18, 2025,<https://universalassignment.com/tacc401-principles-of-accounting-week-3-cash-flow-statement/>
Universal Assignment - TACC401 Principles of Accounting Week 3:  Cash flow Statement. [Internet]. [Accessed July 18, 2025]. Available from: https://universalassignment.com/tacc401-principles-of-accounting-week-3-cash-flow-statement/
"TACC401 Principles of Accounting Week 3:  Cash flow Statement." Universal Assignment - Accessed July 18, 2025. https://universalassignment.com/tacc401-principles-of-accounting-week-3-cash-flow-statement/
"TACC401 Principles of Accounting Week 3:  Cash flow Statement." Universal Assignment [Online]. Available: https://universalassignment.com/tacc401-principles-of-accounting-week-3-cash-flow-statement/. [Accessed: July 18, 2025]

Please note along with our service, we will provide you with the following deliverables:

Please do not hesitate to put forward any queries regarding the service provision.

We look forward to having you on board with us.

Categories

Get 90%* Discount on Assignment Help

Most Frequent Questions & Answers

Universal Assignment Services is the best place to get help in your all kind of assignment help. We have 172+ experts available, who can help you to get HD+ grades. We also provide Free Plag report, Free Revisions,Best Price in the industry guaranteed.

We provide all kinds of assignmednt help, Report writing, Essay Writing, Dissertations, Thesis writing, Research Proposal, Research Report, Home work help, Question Answers help, Case studies, mathematical and Statistical tasks, Website development, Android application, Resume/CV writing, SOP(Statement of Purpose) Writing, Blog/Article, Poster making and so on.

We are available round the clock, 24X7, 365 days. You can appach us to our Whatsapp number +1 (613)778 8542 or email to info@universalassignment.com . We provide Free revision policy, if you need and revisions to be done on the task, we will do the same for you as soon as possible.

We provide services mainly to all major institutes and Universities in Australia, Canada, China, Malaysia, India, South Africa, New Zealand, Singapore, the United Arab Emirates, the United Kingdom, and the United States.

We provide lucrative discounts from 28% to 70% as per the wordcount, Technicality, Deadline and the number of your previous assignments done with us.

After your assignment request our team will check and update you the best suitable service for you alongwith the charges for the task. After confirmation and payment team will start the work and provide the task as per the deadline.

Yes, we will provide Plagirism free task and a free turnitin report along with the task without any extra cost.

No, if the main requirement is same, you don’t have to pay any additional amount. But it there is a additional requirement, then you have to pay the balance amount in order to get the revised solution.

The Fees are as minimum as $10 per page(1 page=250 words) and in case of a big task, we provide huge discounts.

We accept all the major Credit and Debit Cards for the payment. We do accept Paypal also.

Popular Assignments

Assignment Help in Mumbai – Trusted, AI-Powered & 100% Plagiarism-Free

Are you a student in Mumbai struggling with tight deadlines, complex assignments, or back-to-back submissions? Don’t worry — Universal Assignment offers the most trusted and professional assignment help in Mumbai, blending AI-powered tools with human expertise to deliver original, high-quality content every time. Whether you’re enrolled in Mumbai University, IIT

Read More »

Sociology Project: Case Analysis of Sarah

Assessment 3 – Final Project (35%)Final ProjectA 2000-word project consisting of three parts.Due: Sunday of Week 11Throughout the trimester, we discuss several serious social issues (e.g., family violence, inequality, poverty, mental health, addiction) and also examine various sociological perspectives (theories) that allow us to view these issues from different angles,

Read More »

ACC1AMD – Fundamentals of Accounting

GENERAL INFORMATION SUBMISSION: RELEVANT SUBJECT LEARNING INTENDED OUTCOMESSILO 1 – Explain the role of accounting in the business environmentSILO 2 – Apply fundamental accounting concepts and ethical principles in recording and reportingbusiness transactions.SILO 3 – Prepare basic financial statements and analyse financial reports for decision-making purposes.SILO 4 – Use information

Read More »

ICT504 IT Project Management

ICT504 IT Project ManagementActivity – Week 11Tech Innovate, a mid-sized technology firm specializing in software development, decided tooutsource its IT support services to a third-party provider, IT Assist Solutions, based in anothercountry. IT Assist Solutions was chosen for its competitive pricing, proven track record andability to provide 24/7 support. The

Read More »

EC502 Language and Literacy in the Early Years

Detailed Assessment Brief Assessment 1- Individual Assessment – Essay Unit Code/Description EC502 Language and Literacy in the Early Years Course/Subject Bachelor of Early Childhood Education Semester March 2025 Assessment Overview   Unit Learning Outcomes Addressed 1, 2, 3, 4 Assessment Objective Assessment 2: Essay Provide a critical review of relevant

Read More »

Examining the Factors Influencing Tourist Arrival

Assignment TaskYou are a strategist working for a major hospitality group based in Australia. The company is planninginternational expansion, and the board has asked you to compile a report to identify the most suitablelocation for the project. The board has shortlisted two international locations (which will be allocatedto you by

Read More »

Decision Making and Problem solving

Assignment Title:“What Are People Saying Online? Using Internet-Based Qualitative Research to SupportBusiness Decision-Making”OverviewIn this assignment, your group (2-4 students from same campus) will investigate howpeople talk online about a business, product, or issue. Using qualitative research techniques,you will collect online data, identify key themes, and recommend actions a business cantake

Read More »

HGA237|337 Juvenile Justice and Child Protection

InstructionsPlease read these instructions carefully. The submission time is Tuesday 10th of June 11:59pm. This is an open-book examination which should take no longer than2 hours to complete. You should set aside 15 minutes for readingtime in addition to these 2 hours. The total time therefore should be2 hours and

Read More »

Assignment Help in Turkey – AI-Powered, Plagiarism-Free Solutions

Are you a student in Turkey seeking reliable assignment help that’s fast, affordable, and 100% original? Universal Assignment combines expert academic guidance with advanced AI tools to deliver top-quality, plagiarism-free work—tailored for students in Istanbul, Ankara, İzmir, and all over Turkey. Why Universal Assignment is Turkey’s #1 Choice Turkish students

Read More »

Assignment Help in Greece – AI-Powered, Plagiarism-Free Academic Support

Struggling with tight deadlines and complex academic tasks in Greece? Whether you’re studying in Athens, Thessaloniki, Patras, or any other city, Universal Assignment is your trusted platform for assignment help in Greece. We combine expert academic writers with advanced AI tools to deliver high-quality, plagiarism-free solutions—on time, every time. ✅

Read More »

Assignment Help in Iraq – AI-Powered, Plagiarism-Free Academic Solutions

Need expert assignment help in Iraq? Whether you’re studying in Baghdad, Basra, Erbil, Mosul, or Karbala, Universal Assignment provides reliable, AI-driven academic support with 100% plagiarism-free work, fast delivery, and expert guidance for students at all academic levels. ✅ Why Students in Iraq Trust Universal Assignment With increasing academic pressure

Read More »

Assignment Help in Uzbekistan – AI-Powered, Plagiarism-Free Academic Services

Assignment Help in Uz Are you a student in Uzbekistan looking for expert, affordable, and 100% original assignment help? Whether you’re studying in Tashkent, Samarkand, Bukhara, Andijan, or Nukus, Universal Assignment delivers high-quality academic support that combines expert writers and AI-powered tools — ensuring you receive plagiarism-free, well-researched content every

Read More »

Assignment Help in Thailand – 100% Original & AI-Powered Academic Assistance

Are you a student in Thailand feeling overwhelmed by academic deadlines, complex assignments, or language barriers? Whether you’re studying in Bangkok, Chiang Mai, Khon Kaen, Pattaya, or Phuket, Universal Assignment is your trusted partner for fast, affordable, and high-quality assignment help in Thailand. We deliver AI-enhanced, plagiarism-free academic solutions tailored

Read More »

Assignment Help in New Zealand – Plagiarism-Free, AI-Enhanced Academic Support

Need assignment help in New Zealand that’s fast, affordable, and 100% original? Whether you’re studying in Auckland, Wellington, Christchurch, Hamilton, or Dunedin, Universal Assignment is your go-to academic partner. We combine expert writers and AI-powered tools to deliver assignments that meet New Zealand’s university standards—with a guaranteed plagiarism-free report. ✅

Read More »

Assignment Help in Colombia – AI-Powered, 100% Plagiarism-Free Support

Are you a student in Colombia facing academic pressure and tight deadlines? Whether you’re studying in Bogotá, Medellín, Cali, Barranquilla, or Cartagena, Universal Assignment provides expert, fast, and affordable assignment help in Colombia — powered by advanced AI tools and professional academic writers. ✅ Why Universal Assignment is Colombia’s Top

Read More »

Assignment Help in India – 100% Plagiarism-Free & AI-Powered Academic Support

Are you a student in India struggling with academic pressure, tight deadlines, or complex topics? Whether you’re in Delhi, Mumbai, Bangalore, Hyderabad, Kolkata, or pursuing online education, Universal Assignment offers expert-written, AI-enhanced, and plagiarism-free assignment help in India for every subject and level. We provide affordable, fast, and high-quality assignment

Read More »

Can't Find Your Assignment?