Question

The following selected account balances were taken from ABC Companys g eneral ledgers for 2019: Inventory Accounts payable S

0 0
Add a comment Improve this question Transcribed image text
Answer #1
Cash collected from customes
sales 430,000
Add: Decrease in accounts receivable 15000
Cash collected from customers 445,000 answer
Add a comment
Know the answer?
Add Answer to:
The following selected account balances were taken from ABC Company's g eneral ledgers for 2019: Inventory...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • The following selected account balances were taken from ABC Company's g eneral ledgers for 2019: Inventory...

    The following selected account balances were taken from ABC Company's g eneral ledgers for 2019: Inventory Accounts payable Salaries payable Investments Accounts receivable Land Notes payable Common stock Retained earnings January 1, 2019 49,000 28,000 9,000 69,000 68,000 58,000 120,000 100,000 22,000 December 31, 2019 52,000 50,000 3,000 75,000 53,000 88,000 195,000 120,000 35,000 The following information was taken from ABC Company's 2019 income stat ement: Sales revenue Cost of goods sold Salaries expense Net income $430,000 300,000 68,000 $...

  • The following selected account balances were taken from ABC Company's g eneral ledgers for 2019: Inventory...

    The following selected account balances were taken from ABC Company's g eneral ledgers for 2019: Inventory Accounts payable Salaries payable Investments Accounts receivable Land Notes payable Common stock Retained earnings January 1, 2019 49,000 28,000 9,000 69,000 68,000 58,000 120,000 100,000 22,000 December 31, 2019 52,000 50,000 3,000 75,000 53,000 88,000 195,000 120,000 35,000 The following information was taken from ABC Company's 2019 income stat ement: Sales revenue Cost of goods sold Salaries expense Net income $430,000 300,000 68,000 $...

  • The following selected account balances were taken from ABC Company's general ledgers for 2019: Inventory Accounts...

    The following selected account balances were taken from ABC Company's general ledgers for 2019: Inventory Accounts payable Salaries payable Investments Accounts receivable Land Notes payable Unearned revenue Common stock Retained earnings January 1, 2019 74,000 50,000 9,000 68,000 69,000 58,000 195,000 17,000 100,000 23,000 December 31, 2019 56,000 28,000 4,000 75,000 35,000 88,000 120,000 25,000 190,000 63,000 The following information was taken from ABC Company's 2019 income statement: Sales revenue Cost of goods sold Salaries expense Net income $420,000 300,000...

  • The following selected account balances were taken from ABC Company's general ledgers for 2019: January 1,...

    The following selected account balances were taken from ABC Company's general ledgers for 2019: January 1, 2019 December 31, 2019 Inventory 74,000 56,000 Accounts payable 50,000 28,000 Salaries payable 9,000 4,000 Investments 68,000 75,000 Accounts receivable 69,000 35,000 Land 58,000 88,000 Notes payable 195,000 120,000 Unearned revenue 17,000 25,000 Common stock 100,000 190,000 Retained earnings 23,000 63,000 The following information was taken from ABC Company's 2019 income statement: Sales revenue $420,000 Cost of goods sold 300,000 Salaries expense 68,000 Net...

  • The following selected account balances were taken from ABC Company's general ledgers for 2019: January 1,...

    The following selected account balances were taken from ABC Company's general ledgers for 2019: January 1, 2019 December 31, 2019 Inventory 74,000 56,000 Accounts payable 50,000 28,000 Salaries payable 9,000 4,000 Investments 68,000 75,000 Accounts receivable 69,000 35,000 Land 58,000 88,000 Notes payable 195,000 120,000 Unearned revenue 17,000 25,000 Common stock 100,000 190,000 Retained earnings 23,000 63,000 The following information was taken from ABC Company's 2019 income statement: Sales revenue $420,000 Cost of goods sold 300,000 Salaries expense 68,000 Net...

  • The following selected account balances were taken from ABC Company's general ledgers for 2019: January 1,...

    The following selected account balances were taken from ABC Company's general ledgers for 2019: January 1, 2019 December 31, 2019 Inventory 74,000 56,000 Accounts payable 50,000 28,000 Salaries payable 9,000 4,000 Investments 68,000 75,000 Accounts receivable 69,000 35,000 Land 58,000 88,000 Notes payable 195,000 120,000 Unearned revenue 17,000 25,000 Common stock 100,000 190,000 Retained earnings 23,000 63,000 The following information was taken from ABC Company's 2019 income statement: Sales revenue $420,000 Cost of goods sold 300,000 Salaries expense 68,000 Net...

  • The following selected account balances were taken from ABC Company's general ledgers for 2019: January 1,...

    The following selected account balances were taken from ABC Company's general ledgers for 2019: January 1, 2019 December 31, 2019 Inventory 74,000 56,000 Accounts payable 50,000 28,000 Salaries payable 9,000 4,000 Investments 68,000 75,000 Accounts receivable 69,000 35,000 Land 58,000 88,000 Notes payable 195,000 120,000 Unearned revenue 17,000 25,000 Common stock 100,000 190,000 Retained earnings 23,000 63,000 The following information was taken from ABC Company's 2019 income statement: Sales revenue $420,000 Cost of goods sold 300,000 Salaries expense 68,000 Net...

  • Question The following selected account balances were taken from ABC Company's general ledgers for 2019: January...

    Question The following selected account balances were taken from ABC Company's general ledgers for 2019: January 1, 2019 Inventory 74,000 Accounts payable 50,000 Salaries payable 9,000 Investments 68,000 Accounts receivable 69,000 Land 58,000 Notes payable 195,000 Unearned revenue 17,000 Common stock 100,000 Retained earnings 23,000 December 31, 2019 56,000 28,000 4,000 75,000 35,000 88,000 120,000 25,000 190,000 63,000 The following information was taken from ABC Company's 2019 income statement: Sales revenue Cost of goods sold Salaries expense Net income $420,000...

  • The following selected account balances were taken from ABC Company's general ledgers for 2019: January 1,...

    The following selected account balances were taken from ABC Company's general ledgers for 2019: January 1, 2019 December 31, 2019 Inventory 74,000 56,000 Accounts payable 50,000 28,000 Salaries payable 9,000 4,000 Investments 68,000 75,000 Accounts receivable 69,000 35,000 Land 58,000 88,000 Notes payable 195,000 120,000 Unearned revenue 17,000 25,000 Common stock 100,000 190,000 Retained earnings 23,000 63,000 The following information was taken from ABC Company's 2019 income statement: Sales revenue $420,000 Cost of goods sold 300,000 Salaries expense 68,000 Net...

  • The following selected account balances were taken from ABC Company's general ledgers for 2019: January 1,...

    The following selected account balances were taken from ABC Company's general ledgers for 2019: January 1, 2019 December 31, 2019 Inventory 74,000 56,000 Accounts payable 50,000 28,000 Salaries payable 9,000 4,000 Investments 68,000 75,000 Accounts receivable 69,000 35,000 Land 58,000 88,000 Notes payable 195,000 120,000 Unearned revenue 17,000 25,000 Common stock 100,000 190,000 Retained earnings 23,000 63,000 The following information was taken from ABC Company's 2019 income statement: Sales revenue $420,000 Cost of goods sold 300,000 Salaries expense 68,000 Net...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT