COLLEGE ACCOUNTING (LL)W/ACCESS>CUSTOM<
4th Edition
ISBN: 9781260255157
Author: Haddock
Publisher: MCG CUSTOM
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Chapter 3, Problem 1.6SRA
To determine
Determine the amount of cash balance.
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Consider the following T-account for cash.
Cash
13,000
8,200
4,400
1,900
3,500
5,500
1. Compute the balance of the Cash account. 2. Give some examples of transactions that would have resulted in the $4,400 posting to the account. 3. Give some examples of transactions that would have resulted in the $1,900 posting to the account.
Use the image for the following question:
Q1. Honesty & Co. What is the adjusted cash amount of cash receipts during OctoberA. 760,650B. 772,150C. 779,650D. 789,650
Q2. Honesty & Co. What is the adjusted amount of disbursements per bank during October? A. 624,700B. 605,700C. 633,200D. 615,700
Q3. Honesty & Co. What is the adjusted cash balance as of September 30, 2021? A. 3,000B. 2,500C. None of the optionsD. 2,000
Q4. Honesty & Co. What is the unadjusted amount of cash receipts per bank during October? A. 789,650B. None of the optionsC. 780,450D. 790,450
Q5. Honesty & Co. What is the unadjusted amount of cash disbursements per book during October? A. None of the optionsB. 640,300C. 630,300D. 633,200
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
Chapter 3 Solutions
COLLEGE ACCOUNTING (LL)W/ACCESS>CUSTOM<
Ch. 3 - Increases are recorded on which side of asset,...Ch. 3 - What is a footing?Ch. 3 - Prob. 1.3SRQCh. 3 - Prob. 1.4SRECh. 3 - Prob. 1.5SRECh. 3 - Prob. 1.6SRACh. 3 - Prob. 2.1SRQCh. 3 - Prob. 2.2SRQCh. 3 - What is a trial balance and what is its purpose?Ch. 3 - Prob. 2.4SRE
Ch. 3 - Prob. 2.5SRECh. 3 - Prob. 2.6SRACh. 3 - Prob. 1CSRCh. 3 - Prob. 2CSRCh. 3 - Prob. 3CSRCh. 3 - On which side of asset, liability, and owners...Ch. 3 - Prob. 5CSRCh. 3 - Prob. 1DQCh. 3 - Prob. 2DQCh. 3 - Prob. 3DQCh. 3 - Prob. 4DQCh. 3 - Prob. 5DQCh. 3 - Prob. 6DQCh. 3 - Indicate whether each of the following types of...Ch. 3 - The terms debit and credit are often used in...Ch. 3 - Why is Prepaid Rent considered an asset account?Ch. 3 - Why is the modern system of accounting usually...Ch. 3 - Prob. 11DQCh. 3 - Prob. 1ECh. 3 - Prob. 2ECh. 3 - Prob. 3ECh. 3 - Prob. 4ECh. 3 - Prob. 5ECh. 3 - Prob. 6ECh. 3 - Prob. 7ECh. 3 - Preparing a chart of accounts. The accounts that...Ch. 3 - Prob. 1PACh. 3 - Prob. 2PACh. 3 - Prob. 3PACh. 3 - Prob. 4PACh. 3 - The accountant for the firm owned by Randy Guttery...Ch. 3 - Prob. 1PBCh. 3 - Prob. 2PBCh. 3 - The following transactions took place at...Ch. 3 - Prob. 4PBCh. 3 - Prob. 5PBCh. 3 - Prob. 1CTPCh. 3 - Prob. 2CTPCh. 3 - In discussing a firms latest financial statements,...Ch. 3 - Prob. 2MFCh. 3 - Prob. 3MFCh. 3 - Prob. 4MFCh. 3 - Prob. 1EDCh. 3 - Prob. 1FSA
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- Using 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.$53,950arrow_forwardQ1: How much were total cash receipts per record this year? Q2: How much were total disbursements per record for the year?arrow_forward1. The beginning Cash account balance is $ 8,700. During the period, cash payments totalled$44,600. If ending Cash is $1,100, then cash receipts must have been: A. $35,500 B. $37,000 C. $35,900 D. $34,800arrow_forward
- 4. A cash remittance from the branch to the home office is recorded by the home office as a. Debit to investment account. b. Credit to cash. c. Debit to home office. d. Credit to investment account.arrow_forwardProblem Solving. Compute for the amounts being asked for each item. Support your answers with corresponding solution. Thank you. 1) What is the total amount of the company's CASH AND CASH EQUIVALENTS? Solution to no. 1: 2) What is the total amount of the company's TRADE AND OTHER RECEIVABLES? Solution to no. 2: 3) What is the total amount of the company's PREPAID ASSETS? Solution to no. 3:arrow_forwardQuestion 10 Cash $ 14,890 Cash withdrawals by owner $ 930 Accounts receivable 12,820 Consulting revenue 12,820 Office supplies 2,290 Rent expense 2,530 Land 45,960 Salaries expense 5,780 Office equipment 16,900 Telephone expense 790 Accounts payable 7,670 Miscellaneous expenses 610 Owner investments 83,010arrow_forward
- Consider 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 $103,350arrow_forwardWhat is the amount of cash to reconcile using the direct method on the Statement of Cash Flows? 20XX 20YY Change Cash 600,000 2,000 598,000arrow_forwardQ1: Outstanding check, June 30? Q2: Deposits in Transit, June 30? Q3: Cash per bank statement, June 30?arrow_forward
- 1. What amount should be reported as net cash provided by investing activities? A. 2,200,000 B. 1,400,000 C. 3,000,000 D. 800,000 2. What amount should be reported as cash balance at year-end? A. 3,500,000 B. 9,300,000 C. 5,500,000 D. 5,800,000arrow_forward(2) What was the book balance of cash before the reconciliation? Screenshot attahed thx for the help l4pl 22pl4arrow_forwardProblem 1: Cash January 1, 20XA P120,0001/15 Cash from cash sales P1,0002/02 Payment to supplies P22,0002/18 Collection of Accounts Receivable P20,0003/16 Payment of utility bills P7,8903/28 Cash from cash sales P1,5004/15 Payment to employees P35,0005/20 Collection of Accounts Receivable P34,0006/01 Acquisition of computers P60,0006/17 Cash from cash sales P5,6007/01 Rent payments P25,0007/17 Additional contribution from owner P75,0008/03 Payment to suppliers P16,7009/01 Proceeds from bank borrowing P150,00010/15 Collection of Accounts Receivable P13,00011/21 Collection of Accounts Receivable P44,60012/31 Loan Payment P18,76012/31 Interest payment P7,50012/31 Owner’s drawings P4,000 Requirements: Prepare the Statement of Cash Flows using the…arrow_forward
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