Fill in the missing amounts in the following schedules. April May $60,000 June 1. Sales $80,000 Cash
Question:
Transcribed Image Text:
April May $60,000 June 1. Sales $80,000 Cash receipts: From cash sales From sales on accountt Total cash receipts $45,000 34,000 2. Accounts payable, 12/31/x0 300,000 euros 1,200,000 Purchase of goods and services on account during 20x1 Payments of accounts payable during 20x1 Accounts payable, 12/31/xt 400,000 340,000 yen 900,000 780,000 3. Accounts receivable, 12/31/x0 Sales on account during 20x1 Collections of accounts receivable during 20xf Accounts receivable, 12/31/x $810,000 150,000 4. Accumulated depreciation, 12/31/x0 Depreciation expense during 20x1 Accumulated depreciation, 12/31/xt 5. Retained earnings, 12/31/x0 $2,050,000 400,000 Net income for 20x Dividends paid in 20x1 Retained earnings, 12/31/x1 Half of each month's sales are on account. March sales amounted to $60,000 160% of credit sales is collected in the month of sale; 40% is collected in the following month. Yen is the Japanese national currency.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 78% (14 reviews)
1 April May June Sales 80000 60000 90000 a Cash receipts From cash sales 40000 b 30000 c 45000 From ...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Managerial Accounting Creating Value in a Dynamic Business Environment
ISBN: 978-0078110917
9th edition
Authors: Ronald W. Hilton
Question Posted:
Students also viewed these Managerial Accounting questions
-
Fill in the missing amounts in the following schedule. Half of each month's sales are on account. March sales amounted to $60,000. 60% of credit sales are collected in the month of sale: 40% is...
-
Income Statement for a Merchandiser Fill in the missing amounts in the following income statement for Carpenters Department Store Inc. $125,600 (al Less: Sales returns and allowances $122,040 $23,400...
-
Fill in the missing amounts in the following income tax schedule for Ducharme Corporation. Assume that 2016 was the company's first year of operations. Prepare adjusted trial balance. 2018 2017 2016...
-
The Globe and Mail compiled a list of the top 100 public companies in Canada according to profit. Leading the list is the Toronto- Dominion Bank, followed by the Bank of Nova Scotia. The following...
-
Clearly distinguish among the following terms: date of declaration, date of record, and date of payment. Construct a realistic example in which you use these terms.
-
Jamie Lee Jackson, age 2 4 , now a busy full - time college student and part - time bakery clerk, has been trying to organize all of her priorities, including her budget. She has been wondering if...
-
17.1
-
Each autumn, as a hobby, Pauline Spahr weaves cotton placemats to sell at a local craft shop. The mats sell for $ 20 per set of four mats. The shop charges a 10% commission and remits the net...
-
On January 1, 2019, Blossom Corporation acquired machinery at a cost of $1710000. Blossom adopted the straight-line method of depreciation for this machine and had been recording depreciation over an...
-
The ledger of Pitt Company contains the following balances: Owners Capital $30,000, Owners Drawings $2,000, Service Revenue $58,000, Salaries and Wages Expense $39,000, and Supplies Expense $7,000....
-
List five phases in a product's life cycle, and explain why it is important to budget the costs in each of these phases.
-
Bodin Company budgets on an annual basis. The following beginning and ending inventory levels (in units) are planned for the year 20x1. Two units of raw material are required to produce each unit of...
-
Edward Foster is a building contractor. He and his customer have agreed that he will submit a bill to them when he is 25 percent complete, 50 percent complete, 75 percent complete, and 100 percent...
-
PAYMENTS DURING 2022/23 DATE DESCRIPTION FULL YEAR Private Hospital Insurance Premiums FULL YEAR Childcare costs FULL YEAR FULL YEAR FULL YEAR 18/08/22 27/08/22 01/09/22 01/10/22 01/11/22 01/12/22...
-
been called Recently, s asked to hington, ent of the in areas: g costs, and pany's a simple 12. The Tru-Green Lawn Company provides yard care services for customers throughout the Denver area. The...
-
During the week of November 12, 2021, Ernestina Manufacturing produced abd shipped 7,500 units of its aluminum wheels: 1,500 units of Model A and 6,000 units of Model B. The following costs were...
-
Daicos Ltd is a public company that competes in the highly competitive market for manufactured household products. The company is dominated by Peter Daicos, the chairman and chief executive officer,...
-
Hypothesis testing A tire company claims that a new range on average lasts at least 28,000 km. Tests with 64 tires result in an average duration of 27,800 km. With a standard deviation of 1,000 km....
-
Interview three managers from different organizations. Ask them about their experiences in managing teams. Have each describe teams that they thought were effective and why they succeeded. Have each...
-
You are planning to purchase your first home five years from today. The required down payment will be $50,000. You currently have $20,000. but you plan to contribute $500 each quarter to a special...
-
Identify the major purposes of product costing, for each purpose discuss whether information about current or future product costs is required. What implication does your answer have for developing a...
-
When manufacturing overhead is underapplied, we close it by debiting (adding) it to cost of goods sold, yet, in Exhibit 4.15, when estimating the cost of goods manufactured, under applied overhead is...
-
Explain the difference between job costing and process costing. Give three examples (other than those in the chapter) of businesses that you think would use: (a) A job costing system (b) A process...
-
Your firm is planning to invest in an automated packaging plant. Harburtin Industries is an all - equity firm that specializes in this business. Suppose Harburtin ' s equity beta is 0 . 8 7 , the...
-
Ned Allen opened a medical practice in Los Angeles, California, and had the following transactions during the month of January. (Click the icon to view the January transactions.) Journalize the...
-
do you need more information or are you working on this? Irene Watts and John Lyon are forming a partnership to which Watts will devote one- half time and Lyon will devote full time. They have...
Study smarter with the SolutionInn App