If the total of cash on the debit side (DR) is 7800 OMR and 2300 on the credit side (CR), the balance of cash is:
Q: The actual cash received from cash sales was $33,161 and the amount indicated by the cash register…
A: Working: Cash received = $33,161 Cash Register = $33,185 Cash Short = $33,185 - $33,161 = $24 Sales…
Q: * ?Goods were sold for 500,000 dinars in cash. Which account is credited Cash Purchases Capital…
A: The sale of goods means to sell off the products by the company in the market in order to earn…
Q: Received $4,000 in cash from credit clients on their accounts. Which account is ?debited Cash…
A: "Debit what comes in, Credit what goes out" is the second golden rule of accounting which is to be…
Q: Gia Company has the following information available: Cash pledged as collateral U.S. Treasury bill…
A: Cash and cash equivalents include: currency coins, checks received but not deposited, checking…
Q: The cash balance of the bank for that day was 500,000, and an advance was granted to the cashier of…
A: Inter-bank transfer: It implies to the transfer of funds within the banks. The transfer of funds…
Q: An amount of P1,000 is debited twice in the bank statement. When overdraft as per the cash book is…
A: Overdraft as per cash book means that the cash book has debit balance, meaning that the total…
Q: The cash account of ABC had a beginning debit balance of $400. During the period, transactions were…
A: B. $200 EXPLANATION ( The cash account of ABC had a beginning debit balance of $400. During the…
Q: Entry for cash sales; cash overThe actual cash received from cash sales was $315,280, and the amount…
A: The journal entries are prepared to keep the record of day to day transactions of the business.
Q: All of the following items are included on the balance sheet as Cash and Cash Equivalents excepta.…
A: Cash and Cash Equivalents are part of balance sheet of the company. It means those assets which can…
Q: Which of the following is the correct Cash ledger account (T account) for the transactions given…
A: A cash account is considered as a special daybook because of its dual impact accounting. The dual…
Q: Which of the following entries records the collection of cash from cash customers? Question 9…
A: Collection of cash from cash customers means cash is receive from sale or service.
Q: Cutler Company has a cash account with a balance of $250,000 with Wright Bank and a cash account…
A: International Financial Reporting Standards (IFRS): IFRS is a set of accounting standards which are…
Q: A current asset that is convertible to cash within 3 months can be referred to as ______________.…
A: Cash and cash equivalents has a minor difference. Cash is available right away whereas cash…
Q: Goods were sold for 500,000 dinars in cash. Which account is debited Capital Purchases Cash Sales O
A: There are three golden rules in accounting for recording the transaction : Debit what comes in ,…
Q: Lor's Company has the following items: cash in a checking account, $4,000; cash in a savings…
A: Answer - Cash and Cash Equivalent = Cash in a checking account + Cash in a savings account + High-…
Q: The actual cash received from the day’s cash sales was $27,214, and the amount indicated by the cash…
A: Cash register record the amount of cash received in a given day and it should match with cash in…
Q: Bert has extracted the following list of balances from his general ledger at 31 October 20X5: $…
A: We have the following information: Sales: $258,542 Opening Inventory: $9,649 Purchases: $142,958…
Q: Compute for the Required Total Financing or Excess Cash Balance given the following information:…
A: Cash Cash is considered to be the backbone of the company to conduct the day to day affairs of the…
Q: The receipt of cash on account of $4,500 was recorded as a debit to Cash for $9,000 and a credit to…
A: Accounts receivable is the money due to the company due to the credit sales made by the company…
Q: Determine the amount of cash received from customers for each of the three independent situations…
A: Cash Received from Customers = Sales Revenue - Increase in Accounts receivable + Decrease in…
Q: How much cash is received from sales to customers for year 2021? Assume all the sales were made on…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: Calculate cash balances based on the information provided in the chart below and show me how you did…
A: Introduction Cash flow statement provides the information about cash inflows and outflows in a…
Q: Which of the following accounts will get affected when cash is received from sale made on account in…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: Below is the T-account for Accounts Receivable: Accounts Receivable Debit Beginning 189, 400 Balance…
A: Accounts receivable=Total debits-Total…
Q: The actual cash received from cash sales was $34,936, and th amount indicated by the cash register…
A: Solution: Entry to record cash sales is as under:
Q: 1. If the beginning cash balance is P15,000, the required ending cash balance is P12,000, and cash…
A: Cash is one of the important liquid asset of the business. This will be increased by cash receipts…
Q: what
A: In rectification of errors we have to pass rectifying entry to nullify…
Q: The actual cash received from cash sales was $30,378 and the amount indicated by the cash register…
A: Definition: Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts…
Q: Opening cash is $ 98000, closing cash is $ 71000 Prepare cash flow statement.
A: Introduction: Statement of cash flows: All cash in and out flows are shown in cash flows statement.…
Q: account, Metrobank- P49,500. The amount of cash that should be reported in Steamed Egg's balance…
A: Cash and cash equivalent reported as current assets present amount of cash held in bank Or on hand…
Q: The actual cash received from cash sales was $14,953 and the amount indicated by the cash register…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: Given the following information, compute the correct cash balance using the adjusted method. Write…
A: A bank reconciliation statement is prepared by the business entity at a certain time period to match…
Q: Using the following information, determine the balance of the cash account. The left side of the T…
A: Left side total in cash account is total of debit side and right total in cash account is the total…
Q: From the following information, balance the ledger Cash A/c Date Particulars Amount Date Particulars…
A: Cash account shows the all cash transactions of the organisation during a year. All cash expense and…
Q: Espinoza Air Conditioning & Heating had the following select financial data as of June 30, 2018.…
A: Definition: Cash ratio: Cash ratio is calculated by dividing cash and cash equivalents by the…
Q: AA Company had a unadjusted cash balance in its cash in BB Bank as of December 31, 2022 of…
A: Working: Amount (P) Reason / Explanation Unadjusted Cash balance per books on Dec 31, 2022…
Q: he company records a deposit of $34,956 as $33,956 in the book. What is the entry to correct the…
A: Solution: Actual deposit = $34,956 Recorded amount = $33,956 Short amount recorded in books =…
Q: Lor's Company has the following items: cash in a checking account, $4,000; cash in a savings…
A: Cash and cash equivalents = Cash in checking account + Cash in saving account + government security…
Q: Compute for the following using the data provided below: Cash on Hand - P23,500 Cash in Bank -…
A: It is pertinent to note that assets that get realized within 12 months from the end of the reporting…
Q: ABC Company provided the following information: Bills and coins 50,000Postdated check…
A: Solution:- Calculation of the cash to be presented in the statement of financial position as follows…
Q: A company has P1,922,000 balance per books, P311,000 deposit in transit, P253,000 outstanding…
A: Adjusted cash balance = balance per books + credit memo - NSF check
Q: Choices are: a. 3,550,000 b. 3,660,000 c. 3,610,000 d. 3,655,000 Question: What amount was…
A: There are two type of cash and bank balances in the business. One is cash balance as per cash book…
Q: Determine the amount of cash received from customers for each of the three independent situations…
A: Accounts receivable are the current assets of a company occurring due to the credit sales. They are…
Q: Consider the following information taken from the cash account. Assume cash payments were 80% of…
A: Beginning balance Add: Collections Less: Disbursements Ending balance
Q: Could you please explain to me how the cash balances are calculated???? Pro Forma Cash Flow Cash…
A: Budgeting - Budgeting is the process of estimating future operations based on past performance. %…
Q: The actual cash received from cash sales was $13,712 and the amount indicated by the cash register…
A: The cash register records all the cash transactions of a company. It includes all the cash payments…
Q: If there is a credit balance of 500 on the cash column of the cash book it would most likely mean
A: First of all we make an Cash Book by taking imaginary figure. Here in question given that , the…
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- Refer to the information for Cornett Company above. What amount should Cornett report on its statement of cash flows as net cash flows provided by investing activities? a. $(5,200) b. $55,200 c. $144,800 d. None of theseUsing the following information, determine the balance of the cash account. The left side of the T account sums to $34,500, and the right side of the T account sums to $19,450. a.$15,050 b.$19,450 c.$34,500 d.$53,950Cutler Company has a cash account with a balance of $250,000 with Wright Bank and a cash account with an overdraft of $5,000 at Lowe Bank. What would the current assets section of Cutler’s balance sheet include for “cash” under IFRS? Under U.S. GAAP?
- Calculate the cash discount and the net amount due the transaction (in $). Amount ofInvoice Terms ofSale CashDiscount NetAmount Due $15,660.00 2/10, n/45 $ $ME8Which of the following entries for goods sold by cash is correct? a) Cash Dr, AR Crb) AR Dr, Revenue Crc) Fees Earned, debit; Cash creditd) Cash, debit; Bank CrIf there is a credit balance of 500 on the cash column of the cash book it would most likely mean
- Skysong, Inc. had credit sales of $1312000. The beginning accounts receivable balance was $135000 and the ending accounts receivable balance was $230000. Using the direct method of reporting cash flows from operating activities, what were the cash collections from customers during the period? $1312000. $1447000. $1217000. $1487000.An amount of P1,000 is debited twice in the bank statement. When overdraft as per the cash book is the starting point? A. P1,000 will be added B. P1,000 will be deducted C. P2,000 will be added D. P2,000 will be deductedConsider the following information taken from the cash account. Assume cash payments were 80% of collections. Cash ?? Beginning balance $115,375 Collections ?? Disbursements $80,275 Ending balance How much was the beginning balance of the cash account? $35,100 $92,300 $57,200 $103,350
- Which of the following options indicate how quickly accounts receivables are converted into cash? Select one: a. Total assets turnover b. Days to collect accounts receivable c. Working capital d. Accounts receivable turnoverWhat is double entry for the following transaction: Paid MK20000 of the cash in hand into bank accountCalculate cash balances based on the information provided in the chart below and show me how you did it Pro Forma Cash Flow Cash Received Cash from Operations Cash Sales $24,198 $100,099 $122,460 Cash from Receivables $46,108 $217,218 $342,905 Subtotal Cash from Operations $70,306 $317,317 $465,366 Additional Cash Received Sales Tax, VAT, HST/GST Received $0 $0 $0 New Current Borrowing $0 $0 $0 New Other Liabilities (interest-free) $0 $0 $0 New Long-term Liabilities $0 $40,000 $0 Sales of Other Current Assets $0 $0 $0 Sales of Long-term Assets $0 $0 $0 New Investment Received $0 $0 $0 Subtotal Cash Received $70,306 $357,317 $465,366 Expenditures Year 1 Year 2 Year 3 Expenditures from Operations Cash Spending $167,000 $225,200 $229,200 Bill Payments $75,294 $124,114 $152,785 Subtotal Spent on Operations $242,294 $349,314 $381,985 Additional Cash Spent Sales Tax,…