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Analysis of Accounts Calculate the unknown amount required in each of the following five independent situations. The answer to situation (a) is given as an
Analysis of Accounts Calculate the unknown amount required in each of the following five independent situations. The answer to situation (a) is given as an example: Account Beginning Balance Ending Balance Other Information a. Cash $7,000 $5,250 Total cash disbursed, $5,400. b. Accounts Receivable 11,000 9,300 Services on account, $16,500. C. Notes Payable 17,500 23,000 Borrowed funds by issuing a note, $30,000. d. Accounts Payable 2,500 1,720 Payments on account, $3,900. e. Stockholders' Equity 29,000 46,000 Capital Contribution, $7,000. Unknown Amounts Required a. Total cash received b. Total cash collected from credit customers $ c. Notes payable repaid during the period $ d. Good and services received from suppliers on account $ e. Net income, assuming that no dividends were paid $ $3,650 14,800 x 35,500 x 3,120 V 24,000 X
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