Need help with this accounting question please answer At the end of 20x2, Crestline Corp. had accrued $4,500 insalaries expense. The company's beginning and endingSalaries Payable balances were $15,000 and $18,000,respectively. How much cash did Crestline Corp. pay onits Salaries Payable? If the ending Salaries Payablebalance had been $13,500, how much cash would thecompany have paid on the account?

Detailed explanation:Given:Accrued Salaries Expense $4,500Beginning Salaries Payable Balance…

Answered: At the end of 20x2, Crestline Corp. had…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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. In its income statement for the year ended December 31, 2020, Angel Company reported revenue of P5,000,000. The accounts receivable at January 1 is P300,000; Uncollectible accounts written off is P20,000; and accounts receivable at December 31 is P200,000. How much revenue will be reported under the cash basis of accounting? *
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Cullumber, Inc. reported the following item in its balance sheet at December 31, 2022: Accounts receivable, net of $986 allowance $59678 Which statement is true? Cullumber’s customers owe $60664. During the year, customers charged $59678 on account. Cullumber expects its customers to pay $58692. The balance owed by customers is $59678.
In 2021, Lmao company reported cash basis income of P 7,800,000. Tracing back its records, accounts receivable and accounts payable on December 31, 2021 were P5,200,000 and P 1,950,000 respectively. During the year, the accounts receivable increased by 200% while accounts payable decreased by 50%. How much were net income using accrual method?
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