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Calculate the unknown amount in each of the following five independent situations. NOTE: The answer to situation (a) is given as an example. Beginning
Calculate the unknown amount in each of the following five independent situations. NOTE: The answer to situation (a) is given as an example. Beginning Ending Balance Balance Other information a. Cash Account b. Accounts receivable c. Notes payable d. Accounts payable $10,370 $8,925 Total cash disbursed, $5,400. $14,450 $15,810 Services on account, $16,500. $25,500 $34,000 Borrowed funds by issuing a note, $30,000. $5,576 $2,924 Payments on account, $2,900. e. Stockholders' equity $54,400 $78,200 Capital contribution, $5,000. Unknown Amounts Required a. Total cash received b. Total cash collected from credit customers $3,955 2,550 x c. Notes payable repaid during the period 17.770 x d. Goods and services received from suppliers on account $ 340 x e. Net income, assuming that no dividends were paid $ 7.000
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