Homework Answers
The closing balance of any Assets Accounts is the opening balance + Receipts - payments.
Here the cash balance as on 31st January given = $ 96,750 and Receipts during the month =$ 305,000 and cash payment during the month = $ 375,880.
Cash balance as on 31sr December = cash balance as on 1st January + Cash Receipts - cash payments.
$ 96,750 = Cash balance as on 1st January + $ 305,000 - $ 375,880.
Cash Balance as on 1st January = $ 96750 - $ 305,000 + $ 375,880.
Cash balance on January 1 = $ 167,630.
Add Answer to:
On January 31, the cash account balance was $96,750. During January, cash receipts totaled $305,000 and...
Calculator On June 1, the cash account balance was $96,750. During June, cash receipts totaled $305,000...
Calculator On June 1, the cash account balance was $96,750. During June, cash receipts totaled $305,000 and the June 30 balance was $75.880. Determine the cash payments made during June.
On June 1, the cash account balance was $91,410. During June, cash receipts totaled $342,620 and...
On June 1, the cash account balance was $91,410. During June, cash receipts totaled $342,620 and the June 30 balance was $65,740. Determine the cash payments made during June.
Use the following information: Beginning cash balance on March 1, $80,000. Cash receipts from sales, $305,000....
Use the following information:
Beginning cash balance on March 1, $80,000.
Cash receipts from sales, $305,000.
Budgeted cash payments for direct materials, $133,000.
Budgeted cash payments for direct labor, $79,000.
Other budgeted cash expenses, $37,000.
Cash repayment of bank loan, $13,000.
Prepare a cash budget for the month ended on March 31 for Gado
Company. The budget should show expected cash receipts and cash
payments for the month of March and the balance expected on March
31.
GADO COMPANY Cash...
Account Balances a. During February, $78,310 was paid to creditors on account, and purchases 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...
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...
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...
Ch 2-3 Exercises& Problems Account Balances a. During February, $96,940 was paid to creditors on account,...
Ch 2-3 Exercises& Problems Account Balances a. During February, $96,940 was paid to creditors on account, and purchases on account were $124,080. Assuming that the February 28 balance of Accounts Payable was $41,680, determine the account balance on February 1. b. On October 1, the accounts receivable account balance was $48,000. During October, $417,600 was collected from customers on account. Assuming that the October 31 balance was $55,200, determine the fees billed to customers on account during October. c. On...
Sales on account during the month totaled $78,000. Cash collections of accounts receivable during the month...
Sales on account during the month totaled $78,000. Cash
collections of accounts receivable during the month totaled
$72,000. The balance in the Accounts Receivable account at the end
of the month was $31,000. No accounts receivable were written off
as uncollectible during the month. The balance in the Accounts
Receivable account at the beginning of the month was:
Sales on account during the month totaled $78,000. Cash collections of accounts receivable during the month totaled $72,000. The balance in the...
A) During February, $84,200 was paid to creditors on account, and purchases on account were $107,780....
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...
1. On July 31, 2022, Teal Mountain Company had a cash balance per books of $6,285....
1. On July 31, 2022, Teal Mountain Company had a cash balance per books of $6,285. The statement from Dakota State Bank on that date showed a balance of $7,835.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $17. 2. The bank collected $1,665.00 for Teal Mountain Company through electronic funds transfer. 3. The July 31 receipts of $1,346.30 were not included in the bank deposits...
Calculator On June 1, the cash account balance was $96,750. During June, cash receipts totaled $305,000 and the June 30 balance was $75.880. Determine the cash payments made during June.
On June 1, the cash account balance was $91,410. During June, cash receipts totaled $342,620 and the June 30 balance was $65,740. Determine the cash payments made during June.
Use the following information:
Beginning cash balance on March 1, $80,000.
Cash receipts from sales, $305,000.
Budgeted cash payments for direct materials, $133,000.
Budgeted cash payments for direct labor, $79,000.
Other budgeted cash expenses, $37,000.
Cash repayment of bank loan, $13,000.
Prepare a cash budget for the month ended on March 31 for Gado
Company. The budget should show expected cash receipts and cash
payments for the month of March and the balance expected on March
31.
GADO COMPANY Cash...
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...
Ch 2-3 Exercises& Problems Account Balances a. During February, $96,940 was paid to creditors on account, and purchases on account were $124,080. Assuming that the February 28 balance of Accounts Payable was $41,680, determine the account balance on February 1. b. On October 1, the accounts receivable account balance was $48,000. During October, $417,600 was collected from customers on account. Assuming that the October 31 balance was $55,200, determine the fees billed to customers on account during October. c. On...
Sales on account during the month totaled $78,000. Cash
collections of accounts receivable during the month totaled
$72,000. The balance in the Accounts Receivable account at the end
of the month was $31,000. No accounts receivable were written off
as uncollectible during the month. The balance in the Accounts
Receivable account at the beginning of the month was:
Sales on account during the month totaled $78,000. Cash collections of accounts receivable during the month totaled $72,000. The balance in the...
Most questions answered within 3 hours.
-
A speeding car is traveling along a straight road with a
constant speed of 100 km/hour....
asked 44 seconds from now -
When 60.1 gg of calcium is reacted with nitrogen gas, 31.7 gg of
calcium nitride is...
asked 4 minutes ago -
The random variable X is exponentially distributed, where X
represents the time it takes for a...
asked 18 minutes ago -
a) Write a verilog module for 1:4 Demultiplexer using verilog
primitives.
b) Design 1-to-4 DEMUX using...
asked 13 minutes ago -
MATLAB
write a MATLAB function (1) output a third-order polynomial
function with the coefficients as the...
asked 26 minutes ago -
A z-score
communicates a raw score’s "relative standing"
under the normal curve in relation to:
asked 35 minutes ago -
An object is vibrating on a spring with the following equation
of motion:
?=(30 ??)cos((2?)/(160)?)
a)...
asked 34 minutes ago -
Vulcan Flyovers offers scenic overflights of Mount St. Helens,
the volcano in Washington State that explosively...
asked 36 minutes ago -
If organizations do not adapt fast enough and move incrementally
from the twentieth-century model to the...
asked 37 minutes ago -
A helium balloon with 2.5L of gas has a gauge pressure of 10,000
Pa. The balloon...
asked 41 minutes ago -
What is responsible for Jupiter's enormous magnetic field?
asked 57 minutes ago -
At the end of the year, a company offered to buy 5,000 units of
a product...
asked 58 minutes ago