Homework Answers
| Solution: 1 | ||
| CALCULATION OF CASH RECEIVED FOR INTEREST | ||
| Interest Receivable | $ 4,300 | |
| Add: Interest Revenue | $ 18,400 | |
| Cash Received from interest | $ 22,700 | |
| Answer = Cash receivd from Interest = $ 22,700 | ||
| Solution: 2 | ||
| CALCULATION OF CASH PAID FOR SUPPLIES | ||
| Supplies Expenses = | $ 8,700 | |
| Add: Ending Balance of Supplies | $ 3,000 | |
| Total | $ 11,700 | |
| Less: Beginning Supplies | $ 5,000 | |
| Cash Paid for Supplies | $ 6,700 | |
| Answer = $ 6,700 | ||
| Solution: 3 | ||
| CALCULATION OF CASH PAID FOR SALARIES AND WAGES | ||
| Salaries & Wages Expenses | $ 39,000 | |
| Add: Beginning Balance | $ 5,600 | |
| Total | $ 44,600 | |
| Less: Ending Balance | $ 3,800 | |
| Cash Paid for Supplies | $ 40,800 | |
| Answer = $ 40,800 | ||
| Solution: 4 | ||
| CALCULATION OF CASH RECEIVED FROM REVENUE | ||
| Service Revenue | $ 72,700 | |
| Add: Unearned Service Revenue | $ 4,000 | |
| Total | $ 76,700 | |
| Answer = $ 76,700 | ||
Add Answer to:
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E3-12 c) if $3,800 of salaries was paid in January, what was the balance in Salaries...
E3-12
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E3-12
c) if $3,800 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2016? 12 Selected accounts of Holly Company are shown as follows. E3-12 Supplies Expense Journal and adj (LO 2, 3 800 Supplies 650 7/31 7/1 Bal. 7/10 Salaries and Wages Payable 7/31 1,100 7/31 800 1,200 Accounts Receivable Unearned Service Revenue 7/31 500 7/31 1,150 7/1 Bal. 1,500 1,000 7/20 Salaries and Wages Expense Service Revenue 7/15 7/31...
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