Homework Answers
Solution:-
$122,000
Explanation:-
| Opening balance | $44,000 |
| Revenue on account | $100,000 |
| Less closing balance | $22,000 |
| Cash collected from debtors | 122,000 |
Add Answer to:
Warren Company began the accounting period with a $44,000 debit balance in its accounts receivable account....
3 River Co. began the accounting period with a $71,500 debit balance in its Accounts Receivable...
3 River Co. began the accounting period with a $71,500 debit balance in its Accounts Receivable account. During the accounting period, River Co. earned revenue on account of $321,700. The ending Accounts Receivable balance was $61,400. Required Based on this information alone, determine the amount of cash inflow from operating activities during the accounting period. (Hint: Use a T-account for Accounts Receivable. Enter the debits and credits for the given events, and solve for the missing amount.) 1.17 points Cash...
4 The Garden Company began the accounting period with a $43,000 credit balance in its Accounts...
4 The Garden Company began the accounting period with a $43,000 credit balance in its Accounts Payable account. During the accounting period, Garden Company incurred expenses on account of $122,000. The ending Accounts Payable balance was $62,000. Required Based on this information, determine the amount of cash outflow for expenses during the accounting period. (Hint: Use a T-account for Accounts Payable. Enter the debits and credits for the given events, and solve for the missing amount.) 1.17 points Cash outflow...
1. Your Company completed a job that it billed at $20.000. What is the effect of...
1. Your Company completed a job that it billed at $20.000. What is the effect of this entry ONLY on the following items for the company? Net Income Cash Flow from | Operating Activities Increase No effect No effect No effect Increase Increase No effect Increase B. C. D. Your Company began the accounting period with a $12,000 normal balance in its accounts receivable account. During the accounting period, the company recorded revenue on account amounting to $54,000. The accounts...
18) On January 1, 2019, the Accounts Receivable of Linda Company had a debit balance of...
18) On January 1, 2019, the Accounts Receivable of Linda Company had a debit balance of $20,000. During lanuary, the company provided services for $600,000 on account. T company collected $250,000 from its customers on account in S ary. What was th ending balance in the Accounts Receivable account at the end of January? a $350,000 b. $620,000 C $370,000 d. $600,000 THERE lege nisla 19) Education of All sells tickets in advance for their weekly productions and records proceeds...
The following account balances come from the records of Ourso Company: Beginning Balance Ending Balance Accounts receivable $ 2,504 $ 3,417 Allowance for doubtful accounts 125 170...
The following account balances come from the records of Ourso Company: Beginning Balance Ending Balance Accounts receivable $ 2,504 $ 3,417 Allowance for doubtful accounts 125 170 During the accounting period, Ourso recorded $11,800 of sales revenue on account. The company also wrote off a $182 account receivable. Required Determine the amount of cash collected from receivables. Determine the amount of uncollectible accounts expense recognized during the period
The following account balances come from the records of Ourso Company: Accounts receivable Allowance for doubtful...
The following account balances come from the records of Ourso Company: Accounts receivable Allowance for doubtful accounts Beginning Balance $3,133 102 Ending Balance $3,906 188 During the accounting period, Ourso recorded $11,450 of sales revenue on account. The company also wrote off a $188 account receivable Required a. Determine the amount of cash collected from receivables. Collections of accounts receivable b. Determine the amount of uncollectible accounts expense recognized during the period. Uncollectible accounts expense
Magnificent Company began the year with $126,000 in its common stock account and a debit balance...
Magnificent Company began the year with $126,000 in its common stock account and a debit balance in retained earnings of $54,000. During the year, the company earned net income of $27,000 and declared and paid $9,000 of dividends. In addition, the company sold additional common stock amounting to $33,000. Based on this information, what should the transaction analysis show for total stockholders' equity at the end of the year? $231,000 $249,000 $123,000 $165,000
Magnificent Company began the year with $126,000 in its common stock account and a debit balance...
Magnificent Company began the year with $126,000 in its common stock account and a debit balance in retained earnings of $54,000. During the year, the company earned net income of $27,000 and declared and paid $9,000 of dividends. In addition, the company sold additional common stock amounting to $33,000. Based on this information, what should the transaction analysis show for total stockholders' equity at the end of the year? $231,000 $249,000 $123,000 $165,000
The balance of Accounts Receivable was $5,000 on February 1. On February 2, the company billed...
The balance of Accounts Receivable was $5,000 on February 1. On February 2, the company billed charge customers for $500. On February 3, the company received $300 cash on account from its customers. What was the balance of Accounts Receivable after these transactions were recorded? Multiple Choice $5,200 debit $5,200 credit $4,800 debit $4,800 credit ma
Edumunds had the following account balances at 1/1/2003, the first day the accounting period: Accounts receivable:...
Edumunds had the following account balances at 1/1/2003, the first day the accounting period: Accounts receivable: $86,000 Allowance for Uncollectible Accounts: $17,000 During 2003, Edmunds had $300,000 in credit sales. Cash collected from customers totaled $280.000. Uncollectible accounts of $19,000 were written ofl. Show your work and circle your final answer. 1. What is the net realizable value of Accounts Receivable on January 1.2003? 2. What is the balance in these accounts after the 2003 activity described above? Accounts Receivable:...
3 River Co. began the accounting period with a $71,500 debit balance in its Accounts Receivable account. During the accounting period, River Co. earned revenue on account of $321,700. The ending Accounts Receivable balance was $61,400. Required Based on this information alone, determine the amount of cash inflow from operating activities during the accounting period. (Hint: Use a T-account for Accounts Receivable. Enter the debits and credits for the given events, and solve for the missing amount.) 1.17 points Cash...
4 The Garden Company began the accounting period with a $43,000 credit balance in its Accounts Payable account. During the accounting period, Garden Company incurred expenses on account of $122,000. The ending Accounts Payable balance was $62,000. Required Based on this information, determine the amount of cash outflow for expenses during the accounting period. (Hint: Use a T-account for Accounts Payable. Enter the debits and credits for the given events, and solve for the missing amount.) 1.17 points Cash outflow...
1. Your Company completed a job that it billed at $20.000. What is the effect of this entry ONLY on the following items for the company? Net Income Cash Flow from | Operating Activities Increase No effect No effect No effect Increase Increase No effect Increase B. C. D. Your Company began the accounting period with a $12,000 normal balance in its accounts receivable account. During the accounting period, the company recorded revenue on account amounting to $54,000. The accounts...
18) On January 1, 2019, the Accounts Receivable of Linda Company had a debit balance of $20,000. During lanuary, the company provided services for $600,000 on account. T company collected $250,000 from its customers on account in S ary. What was th ending balance in the Accounts Receivable account at the end of January? a $350,000 b. $620,000 C $370,000 d. $600,000 THERE lege nisla 19) Education of All sells tickets in advance for their weekly productions and records proceeds...
The following account balances come from the records of Ourso Company: Accounts receivable Allowance for doubtful accounts Beginning Balance $3,133 102 Ending Balance $3,906 188 During the accounting period, Ourso recorded $11,450 of sales revenue on account. The company also wrote off a $188 account receivable Required a. Determine the amount of cash collected from receivables. Collections of accounts receivable b. Determine the amount of uncollectible accounts expense recognized during the period. Uncollectible accounts expense
Magnificent Company began the year with $126,000 in its common stock account and a debit balance in retained earnings of $54,000. During the year, the company earned net income of $27,000 and declared and paid $9,000 of dividends. In addition, the company sold additional common stock amounting to $33,000. Based on this information, what should the transaction analysis show for total stockholders' equity at the end of the year? $231,000 $249,000 $123,000 $165,000
Magnificent Company began the year with $126,000 in its common stock account and a debit balance in retained earnings of $54,000. During the year, the company earned net income of $27,000 and declared and paid $9,000 of dividends. In addition, the company sold additional common stock amounting to $33,000. Based on this information, what should the transaction analysis show for total stockholders' equity at the end of the year? $231,000 $249,000 $123,000 $165,000
The balance of Accounts Receivable was $5,000 on February 1. On February 2, the company billed charge customers for $500. On February 3, the company received $300 cash on account from its customers. What was the balance of Accounts Receivable after these transactions were recorded? Multiple Choice $5,200 debit $5,200 credit $4,800 debit $4,800 credit ma
Edumunds had the following account balances at 1/1/2003, the first day the accounting period: Accounts receivable: $86,000 Allowance for Uncollectible Accounts: $17,000 During 2003, Edmunds had $300,000 in credit sales. Cash collected from customers totaled $280.000. Uncollectible accounts of $19,000 were written ofl. Show your work and circle your final answer. 1. What is the net realizable value of Accounts Receivable on January 1.2003? 2. What is the balance in these accounts after the 2003 activity described above? Accounts Receivable:...
Most questions answered within 3 hours.
-
Calculate the pH of each of the following solutions.
0.50 M HBr
3.1×10−4 M KOH
4.2×10−5...
asked 1 hour ago -
For the year ended December 31, Depot Max’s cost of merchandise
sold was $85,600. Inventory at the...
asked 1 hour ago -
Week 10 - Professional Memo Assignment
Professional Memo Assignment
Your mission for this week, should you...
asked 1 hour ago -
Write a Python program that stores the data for each
player on the team, and it...
asked 1 hour ago -
In
the last 3 months, mike never knows when he is going to get his
allowance...
asked 2 hours ago -
Is Ca(OH)2 a Bronsted base, Lewis base, or both? Why?
asked 1 hour ago -
1A- Why don’t voters complain about U.S. tariffs on imported
sugar?
Because sugar is only a...
asked 2 hours ago -
Cash Payback Period
Primera Banco is evaluating two capital investment proposals for
a drive-up ATM kiosk,...
asked 2 hours ago -
Create a button in Swift (Xcode) that will create a charge,
create a charge using Stripe's...
asked 2 hours ago -
The reaction rate of CO and NO2 in the reaction
CO(g) + NO2(g) → CO2(g) +...
asked 2 hours ago -
Imagine that a chemist puts 6.40 mol each of
C3H8 and O2 in a 1.00-L container...
asked 2 hours ago -
How much money should be invested today in order to have $8340
at the end of...
asked 2 hours ago