How much is the beginning balance of cash account?
Question: tile following information taken from ttie cash accourt, Assume cash payments were 80% of collections ?? Collections $115,375, Disbursement ??? End balance $80,275
How much is the beginning balance of cash account?
1. $57,200
2. $92,300
3.$103,350
4. $35100
Homework Answers
Compute the cash disbursements during the period:
Cash disbursements = collections x 80%
Cash disbursements = $115,375 x 80%
Cash disbursements = $92,300
Compute the beginning cash balance:
Beginning cash balance = Disbursements + ending balance - collections
Beginning cash balance = $92,300 + $80,275 - $115,375
Beginning cash balance = $57,200
Consider the following information taken from the cash account. Assume cash payments were 80% of collections....
Consider the following information taken from the cash account. Assume cash payments were 80% of collections. Cash ?? Beg. balance $115,375 Collections ?? Disbursements $80,275 End balance How much was the beginning balance of the cash account? a.$57,200 b.$35,100 c.$103,350 d.$92,300
Consider the following information taken from the cash account. Assume cash payments were 80% of collections.
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how do you find the account sales and cash sales on a schedule of cash collections?...
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how
do you find the account sales and cash sales on a schedule of cash
collections?
I was doing my accounting homework and I got stuck on this
section because I couldn't find how to do it in the book.
Harvest Oaks Furniture, Inc. manufactures wooden dining chairs that sell for $100 each. The company is preparing its second quarter budget. The following information has been assembled. Use the information in A-C to answer Part 1. A. Estimated unit sales...
*Practice Exercise 7-3 The following information relates to Oriole Limited's Cash account. The reconciled cash balance from June's bank reconciliation is $19,590. During the month of July, Oriole recorded cash receipts of $21,400 and cash payments of $24,300 in the general ledger Cash account. An examination of the company's July bank statement shows a balance of $19,630 on July 31; outstanding cheques $4,000; deposits in transit $1,820; EFT collections on account that were not yet recorded on the books $2,192;...
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B) How much cash will Drew borrow in February if cash receipts
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