sales of $183,000 $158,000 on account $25,000 for cash ignore cost of goods
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sales of $183,000 $158,000 on account $25,000 for cash ignore cost of goods
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- Smoltz Company reported the following information for the current year: cost of goods sold, $252,500; increase in inventory, $21,700; and increase in accounts payable, $12,200. What is the amount of cash paid to suppliers that Smoltz would report on its statement of cash flows under the direct method? a. $218,600 c. $262,000 b. $243,000 d. $286,400Cash Payments for Merchandise—Direct Method The cost of goods sold reported on the income statement was $185,000. The accounts payable balance increased $8,000, and the inventory balance increased by $11,100 over the year. Determine the amount of cash paid for merchandise.$47. Which of the following item do not affect the Cash account? a. Purchases of P10,000 b. Sales of P5,000 c. Received cash for service rendered P2,000 d. Credit sales of P22,000
- 9. Bane Company reported P210,000 in sales. Its opening accounts receivable balance was P45,000 and its ending accounts receivable balance was P50,000. The company also reported P20,000 unearned revenues at the end of the year. What was the amount of cash collected from customers for the year? Group of answer choices 210,000 205,000 215,000 225,000Russell Co. reports sales revenue of $30,000 and interest revenue of $5,000. Its comparative balance sheet shows that accounts receivable decreased $4,000 and interest receivable increased $1,000. Compute cash provided by operating activities using the direct method.20 - In the cash count made on 10.05.202, a cash balance of 25.000 TL was determined. As of the same date, the total debit of the cash account is TL 45,000, and the total receivable is TL 15,000. Which of the following calculations is correct in this situation? a) 397 Count and Receipt Surplus Hs. 5.000 TL (Creditor) B) 760 Marketing Sales and Distribution Expenses Hs. 5,000 (Borrower) NS) 770 General Administrative Expenses Hs. 5,000 (Borrower) D) 100 Case Hs. 5,000 TL (Borrower) TO) 197 Lack of Counting and Receipt Hs. 5,000 TL (Borrower)
- Beginning and ending accounts receivable are $76,000 and $42,000, respectively. Sales for the period total $384,000, of which $40,000 was directly for cash. How much cash was collected from making sales and collecting accounts receivable? a) $418,000 b) $344,000 c) $378,000 d) $376,000russell co reports sales revenue of 30000 and interest revenue of 5000. it comparative balance sheet show that accounts recievable decrease 4000 and interest recievable increased 1000 compute cash provided by operating activities using the direct methodIn 2021, Hope Company incurred sales on account of $105,000. The company also has the following information: December 31, 2021 December 31, 2020 Accounts Receivable $21,500 $53,000 Accounts Payable $72,000 $47,000 What is the amount of cash received from customers for Hope Company in 2021? Multiple Choice $114,400 $136,500 $105,000 $88,500
- Assets Cash $ 58,900 $ 79,500 Accounts receivable 74,830 56,625 Inventory 284,656 257,800 Prepaid expenses 1,270 2,015 Total current assets 419,656 395,940 Equipment 151,500 114,000 Accum. depreciation—Equipment (39,625 ) (49,000 ) Total assets $ 531,531 $ 460,940 Liabilities and Equity Accounts payable $ 59,141 $ 123,675 Short-term notes payable 11,800 7,200 Total current liabilities 70,941 130,875 Long-term notes payable 62,000 54,750 Total liabilities 132,941 185,625 Equity Common stock, $5 par value 171,750 156,250 Paid-in capital in excess of par, common stock 46,500 0 Retained earnings 180,340 119,065 Total…Assets Cash $ 58,900 $ 79,500 Accounts receivable 74,830 56,625 Inventory 284,656 257,800 Prepaid expenses 1,270 2,015 Total current assets 419,656 395,940 Equipment 151,500 114,000 Accum. depreciation—Equipment (39,625 ) (49,000 ) Total assets $ 531,531 $ 460,940 Liabilities and Equity Accounts payable $ 59,141 $ 123,675 Short-term notes payable 11,800 7,200 Total current liabilities 70,941 130,875 Long-term notes payable 62,000 54,750 Total liabilities 132,941 185,625 Equity Common stock, $5 par value 171,750 156,250 Paid-in capital in excess of par, common stock 46,500 0 Retained earnings 180,340 119,065 Total…Entry for cash sales; cash short The actual cash received from cash sales was $83,452, and the amountindicated by the cash register total was $83,480. Journalize the entry torecord the cash receipts and cash sales.
