Missing Amounts; Various Types of Budgets
Fill in the missing amounts in the following schedules.
April | May | June | |
1. Sales* | $80,000 | $60,000 | $ ? |
Cash receipts: | |||
From cash sales | $ ? | $ ? | $45,000 |
From sales on account | ? | 34,000 | ? |
Total cash receipts | $ ? | $ ? | $ ? |
2. Accounts payable,12/31/x0 | 300,000 euros | ||
Purchase of goods and services on account during 20xl | 1,200,000 | ||
Payments of accounts payable during 20x1 | ? | ||
Accounts payable, 12/31/x1 | 400,000 | ||
3. Accounts receivable, 12131/x0 | 340,000 yen‡ | ||
Sales on account during 20xl | 900,000 | ||
Collections of accounts receivable during 20x1 | 780,000 | ||
Accounts receivable,12/31/x1 | ? | ||
4. Accumulated depreciation, 12/31 /x0 | $810,000 | ||
Depreciation expense during20xl | 150,000 | ||
Accumulateddepreciation,12/31/xl | ? | ||
5. Retainedearnings, 12/31/x0 | $2,050,000 | ||
Net income for 20xl | 400,000 | ||
Dividends paid in 20xl | -0- | ||
Retained earnings, 12/31/xl | ? |
*Half of each month’s sales are on account. March sales amounted to $ 60,000.
†60% of credit sales is collected in the month of sale: 40% is collected in the following month.
‡Yell is the Japanese national currency
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