Question
One company performed the following transactions during the month of October: Purchased office supplies from account for $5,400 has served for. $21,000 cash Services provided
One company performed the following transactions during the month of October:
Purchased office supplies from account for $5,400 has served for. $21,000 cash
Services provided for $36,000 account
A cash collection of USD 29,000 was made on the account from a customer.
He paid the $4,600 monthly rent in cash.
Questions
1. What is the company's total monthly income?
2. What is the company's monthly net income?
3. What was the company's cash inflow or outflow that month?
Step by Step Solution
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There are 3 Steps involved in it
Step: 1
To determine the companys total monthly income monthly net income and cash inflowoutflow for the given transactions lets analyze each transaction indi...
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Step: 2
Step: 3
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Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
23rd Edition
978-0324662962
