1.Beginning Balance(Feb1) + Purchases – Payments on Purchases = Ending Balance
Beginning Balance + 124,080 -96,940 = 41680
Beginning Balance = 14,540
2. Beginning Balance +Credit sales – Collections = Ending Balance
48000+ credit sales – 417,600 = 55200
Credit sales = 424,800
3. Beginning Balance + Cash receipts – Cash payments = Ending Balance
18,180 +275,420 – Cash Payment = 13,050
= 293,600 – Cash Payment = 13050
= 293600 – 13050 = 280550
Cash Payment = 280,550
Ch 2-3 Exercises& Problems Account Balances a. During February, $96,940 was paid to creditors on account,...
Account Balances a. During February, $78,310 was paid to creditors on account, and purchases on account were $100,240. Assuming that the February 28 balance of Accounts Payable was $33,670, determine the account balance on February 1. $ b. On October 1, the accounts receivable account balance was $46,000. During October, $400,200 was collected from customers on account. Assuming that the October 31 balance was $52,900, determine the fees billed to customers on account during October. $ c. On April 1,...
Account Balances a. During February, $85,240 was paid to creditors on account, and purchases on account were $109,110. Assuming that the February 28 balance of Accounts Payable was $36,650, determine the account balance on February 1. $ b. On October 1, the accounts receivable account balance was $34,700. During October, $301,900 was collected from customers on account. Assuming that the October 31 balance was $39,900, determine the fees billed to customers on account during October. $ c. On April 1,...
Account Balances b. During February, $84,080 was paid to creditors on account, and purchases on account were $107,620. Assuming the February 28 balance of Accounts Payable was $36,150, determine the account balance on February 1. b. On October 1, the accounts receivable account balance was $28,200. During October, $245,300 was collected from customers on account. Assuming the October 31 balance was $32,400, determine the fees billed to customers on account during October On April 1, the cash account balance was...
A) During February, $84,200 was paid to creditors on account, and purchases on account were $107,780. Assuming that the February 28 balance of Accounts Payable was $36,210, determine the account balance on February 1. $ b. On October 1, the accounts receivable account balance was $38,900. During October, $338,400 was collected from customers on account. Assuming that the October 31 balance was $44,700, determine the fees billed to customers on account during October. $ c. On April 1, the cash...
Account Balances a. During February, $81,480 was paid to creditors on account, and purchases on account were $104,290. Assuming that the February 28 balance of Accounts Payable was $35,040, determine the account balance on February 1. b. On October 1, the accounts receivable account balance was $50,700. During October, $441,100 was collected from customers on account. Assuming that the October 31 balance was $58,300, determine the fees billed to customers on account during October c. On April 1, the cash...
Account balances Consider the changes in the accounts payable, accounts receivable, and cash accounts. Use T accounts to find the missing values. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. х THUH Open spreadsheet a. During February, $186,500 was paid to creditors on account, and purchases on account were $202,300. Assuming the February 28 balance of Accounts Payable was $59,100, determine the...
Account Balancesa. During February, $82,500 was paid to creditors on account, and purchases on account were $105,600. Assuming that the February 28 balance of Accounts Payable was $35,480, determine the account balance on February 1.$fill in the blank 1b. On October 1, the accounts receivable account balance was $29,500. During October, $256,600 was collected from customers on account. Assuming that the October 31 balance was $33,900, determine the fees billed to customers on account during October.$fill in the blank 2c. On April 1,...
y Bookmarks People Tab Window Help 2 Assignmer X CengageNOW2 x CengageNOW2 X 3 Cengage Sign in X Sun 7:40 PM n/takeAssignment/takeAssignment Main.do?invoker=&takeAssignmentSessionLocator &inprogress=false Untitled documex e Image Res... Update Apple ID Settings Some account Services will not be available until you sign in again eBook Show Me How Calculator Print tem Account Balances a. During February, $186,500 was paid to creditors on account, and purchases on account were $ 201,400. Assuming the February 28 balance of Accounts Payable was...
Bookmarks People Tab Window Help D Sun 7:40 PM 0 Assignmer X i CengageNOW. X 1 CengageNOW2 X : Cengage Sign in X Untitled docume X a/takeAssignment/takeAssignment Main.do?invokeru&takeAssignmentSessionLocator &inprogress=false Image Res. Update Apple ID Settings Some account services will not be available until you sign in again eBook Show Me How Calculator Print Item Account Balances a. During February, $186,500 was paid to creditors on account, and purchases on account were $201,400. Assuming the February 28 balance of Accounts Payable...
a. During February, $79,560 was paid to creditors on account, and purchases on account were $101,840. Assuming that the February 28 balance of Accounts Payable was $34,210, determine the account balance on February 1. -56,490