Homework Answers
a. Cash = sales made + decrease in account receivable
= $762000 + $24600 = $786600
So source of cash $786600
b. Cash paid = income tax expense + decrease in tax payable
= $133000 + $35500
= $168500
So use of cash $168500
Please give me a Thumbs up ?.Thanks!!
Add Answer to:
Seved Module 5 Homework 4 For each of the following items, calculate the cash sources or...
9252Fnews Module 5 Homework 4 Por each of the following terms, calculate the cath sources or...
9252Fnews Module 5 Homework 4 Por each of the following terms, calculate the cath sources or cash wes that should be recognized on the statement of cath Rows for Batin Co for the year ended December 2019 Required • Sales on account we collectible amounted to $763,000 and accounts recente decreased by 524 600 How much cash was collected from customer 03.000 income test de 335 500 How much is uid for
For each of the following items, calculate the cash sources or cash uses that should be...
For each of the following items, calculate the cash sources or cash uses that should be recognized on the statement of cash flows for Baldin Co. for the year ended December 31, 2019: Required: a. Sales on account (all are collectible) amounted to $764,000, and accounts receivable decreased by $23.400. How much cash was collected from customers? of cash Source Use b. Income tax expense for the year was $138,000, and income taxes payable decreased by $38,500. How much cash...
For each of the following items, calculate the amount of revenue or expense that should be...
For each of the following items, calculate the amount of revenue or expense that should be recognized on the income statement for Pelkey Co. for the year ended December 31, 2019: Required: a. Cash collected from customers during the year amounted to $876,000, and accounts receivable increased by $44,200. How much were sales on account for the year ended December 31, 2019? Expense incurred Revenues earned b. Cash payments for income taxes during the year were $219,000, and income taxes...
For each of the following items, calculate the amount of revenue or expense that should be...
For each of the following items, calculate the amount of revenue or expense that should be recognized on the income statement for Pelkey Co. for the year ended December 31, 2019: Required: a. Cash collected from customers during the year amounted to $147,000, and accounts receivable increased by $31,000. How much were sales on account for the year ended December 31, 2019? b. Cash payments for income taxes during the year were $85,000, and income taxes payable increased by $13,000....
For each of the following items, calculate the amount of revenue or expense that should be...
For each of the following items, calculate the amount of revenue or expense that should be recognized on the income statement for Pelkey Co. for the year ended December 31, 2019: c. Cash paid to suppliers during the year amounted to $168,000, accounts payable decreased by $26,700, and inventories decreased by $14,000. How much was cost of goods sold? d. The net book value of buildings increased by $275,000. No buildings were sold, and a new building costing $430,000 was...
Cash collected from customers during the year ended December 31, 2019 amounted to $314,000, and accounts...
Cash collected from customers during the year ended December 31, 2019 amounted to $314,000, and accounts receivable decreased by $42,000 during the year. How much were sales on account for the year ended December 31, 2019? (Assume that no cash sales were made during the year and that all sales on account are collectible.
Chapter 2 Homework - Problems Seved Help Save & CH 1 5 points Skipped The following...
Chapter 2 Homework - Problems Seved Help Save & CH 1 5 points Skipped The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2020. Account Title Debits Credits Cash 5,000 Accounts receivable 2,000 Inventory 5,000 Equipment 11.000 Accumulated depreciation 3,500 Accounts payable 3,000 Common stock 10,000 Retained earnings Sales revenue Coat of goods sold Salaries expense Rent expense Advertising expense Totals 23,000 23,000 6,500 eBook 0 Print References The following transactions occurred during...
Taxes 1 G Saved Help Save & Exit Submit Check my work 4 In 2018, DFS...
Taxes 1 G Saved Help Save & Exit Submit Check my work 4 In 2018, DFS Medical Supply collected rent revenue for 2019 tenant occupancy. For income tax reporting, the rent is taxed when collected. For financial statement reporting, the rent is recorded as deferred revenue and then recognized as income in the period tenants occupy the rental property. The deferred portion of the rent collected in 2018 amounted to $340,000 at December 31, 2018 DFS had no temporary differences...
Module 14 Homework ACCT 107 Part A In each of the following items, a significant subsequent...
Module 14 Homework ACCT 107 Part A In each of the following items, a significant subsequent event is described. Assume that you are expressing an opinion on Jensen Company's financial statements for the year ended December 31, 2018 and that you completed fieldwork on January 31, 2019. Choose between the following options: • Type 1 Event-Record and disclose • Type 2 Event - Disclose only Neither - Not reported in the financial statements Event A large account receivable from Barich...
Chap 21 Homework Phoenix Company's 2019 master budget included the following fixed budget report. It is...
Chap 21 Homework Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units $3,300,000 Part 1 of 3 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment straight-line) Utilities (530,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative...
9252Fnews Module 5 Homework 4 Por each of the following terms, calculate the cath sources or cash wes that should be recognized on the statement of cath Rows for Batin Co for the year ended December 2019 Required • Sales on account we collectible amounted to $763,000 and accounts recente decreased by 524 600 How much cash was collected from customer 03.000 income test de 335 500 How much is uid for
For each of the following items, calculate the cash sources or cash uses that should be recognized on the statement of cash flows for Baldin Co. for the year ended December 31, 2019: Required: a. Sales on account (all are collectible) amounted to $764,000, and accounts receivable decreased by $23.400. How much cash was collected from customers? of cash Source Use b. Income tax expense for the year was $138,000, and income taxes payable decreased by $38,500. How much cash...
For each of the following items, calculate the amount of revenue or expense that should be recognized on the income statement for Pelkey Co. for the year ended December 31, 2019: Required: a. Cash collected from customers during the year amounted to $876,000, and accounts receivable increased by $44,200. How much were sales on account for the year ended December 31, 2019? Expense incurred Revenues earned b. Cash payments for income taxes during the year were $219,000, and income taxes...
For each of the following items, calculate the amount of revenue or expense that should be recognized on the income statement for Pelkey Co. for the year ended December 31, 2019: Required: a. Cash collected from customers during the year amounted to $147,000, and accounts receivable increased by $31,000. How much were sales on account for the year ended December 31, 2019? b. Cash payments for income taxes during the year were $85,000, and income taxes payable increased by $13,000....
For each of the following items, calculate the amount of revenue or expense that should be recognized on the income statement for Pelkey Co. for the year ended December 31, 2019: c. Cash paid to suppliers during the year amounted to $168,000, accounts payable decreased by $26,700, and inventories decreased by $14,000. How much was cost of goods sold? d. The net book value of buildings increased by $275,000. No buildings were sold, and a new building costing $430,000 was...
Chapter 2 Homework - Problems Seved Help Save & CH 1 5 points Skipped The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2020. Account Title Debits Credits Cash 5,000 Accounts receivable 2,000 Inventory 5,000 Equipment 11.000 Accumulated depreciation 3,500 Accounts payable 3,000 Common stock 10,000 Retained earnings Sales revenue Coat of goods sold Salaries expense Rent expense Advertising expense Totals 23,000 23,000 6,500 eBook 0 Print References The following transactions occurred during...
Taxes 1 G Saved Help Save & Exit Submit Check my work 4 In 2018, DFS Medical Supply collected rent revenue for 2019 tenant occupancy. For income tax reporting, the rent is taxed when collected. For financial statement reporting, the rent is recorded as deferred revenue and then recognized as income in the period tenants occupy the rental property. The deferred portion of the rent collected in 2018 amounted to $340,000 at December 31, 2018 DFS had no temporary differences...
Module 14 Homework ACCT 107 Part A In each of the following items, a significant subsequent event is described. Assume that you are expressing an opinion on Jensen Company's financial statements for the year ended December 31, 2018 and that you completed fieldwork on January 31, 2019. Choose between the following options: • Type 1 Event-Record and disclose • Type 2 Event - Disclose only Neither - Not reported in the financial statements Event A large account receivable from Barich...
Chap 21 Homework Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units $3,300,000 Part 1 of 3 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment straight-line) Utilities (530,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative...
Most questions answered within 3 hours.
-
Fiscal policy is the deliberate manipulation of taxes and
government spending to alter GDP, employment, inflation...
asked 31 seconds from now -
Two concentric current loops lie in the same plane. The smaller
loop has a radius of...
asked 27 minutes ago -
1)Which of the following is an
important difference between qualified and nonqualified retirement
plans?
a. Qualified...
asked 39 minutes ago -
What's the streaming business's problem on the
horizon?
asked 1 hour ago -
I need help with writing the conclusion for this online lab
report
Abstract
By testing the...
asked 1 hour ago -
For the reaction 1N2+3H2-----> 2NH3, would the reaction rate
trend be: delta[NH3]/ delta t = -2...
asked 2 hours ago -
Within your current/past organization, identify a problem/issue
and format a design to address same. You may...
asked 2 hours ago -
A sock stuck to the side of a clothes-dryer barrel has a
centripetal acceleration of 24...
asked 3 hours ago -
A perfect gas undergoes an isentropic process such that its
volume doubles. If the ratio of...
asked 3 hours ago -
list the elements in groups 3A to 6A in the same order as in the
periodic...
asked 3 hours ago -
Estimating effect size. Peng and Chen (2014)
evaluated effect size estimates for various tests. In their...
asked 3 hours ago -
Write a script in MySQL that creates and calls a stored
procedure name test. This procedure...
asked 3 hours ago