Question
I need help with my accounting homework Analysis of Accounts Calculate the unknown amount required in each of the following five independent situations. The answer
I need help with my accounting homework
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 illustration:
Account | Beginning Balance | Ending Balance | Other Information | ||
a. | Cash | $6,100 | $5,250 | Total cash disbursed | $5,400 |
b. | Accounts Receivable | $8,500 | $9,300 | Services on account | $16,500 |
c. | Notes Payable | $15,000 | $20,000 | Borrowed funds by issuing note | $30,000 |
d. | Accounts Payable | $3,280 | $1,720 | Payments on account | $2,900 |
e. | Stockholders equity | $32,000 | $46,000 | Capital Contribution | $5,000 |
Unknown Amounts Required
a.
Total cash received
b.
Total cash collected from credit customers
r
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
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