I want to correct answer general accounting During 20x1 Company X sold $4,000 of inventory oncredit. The company's beginning and ending accountsreceivable balances were $25,000 and $28,000,respectively. How much cash did Company X collect onthe account? If the ending accounts receivable hadbeen $21,500 how much cash would company X havecollected?

Step 1: Definition of Accounts ReceivableAccounts Receivables are current assets of the business.…

Answered: During 20x1 Company X sold $4,000 of…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12MCQ: Smoltz Company reported the following information for the current year: cost of goods sold,...

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Smoltz Company reported the following information for the current year: cost of goods sold, $252,500; increase in inventory, $21,700; and increase in accounts payable, $12,200. What is the amount of cash paid to suppliers that Smoltz would report on its statement of cash flows under the direct method? a. $218,600 c. $262,000 b. $243,000 d. $286,400
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Sweet Company has the following account balances: \table [[Inventory, 556,000], [Prepaid Insurance, 12,000], [Cash, 360,000], [Accounts Receivable,260,000], [Supplies, 26, 000], [Allowance for Doubtful Accounts, 36,000]] When listing Accounts Receivable, what is the cash (net) realizable value to be presented on the statement of financial position? 620,000 260,000 296,000 224,000
Happy Selling’s Accounts Receivable amounted to 500,000. Prepaid Expense and Unearned Income totaled 30,000 and 10,000 respectively. Cash balance amounted to 100,000 while Accounts Payable and Inventory totaled to 20,000 and 10,000 respectively. How much is the company’s current assets? Current liabilities?
Use the information in each of the following separate cases to calculate the unknown amount.
Use the information in each of the following separate cases to calculate the unknown amount. a. Corentine Co. had $153,000 of accounts payable on September 30 and $133,000 on October 31. Total purchases on account during October were $282,000. Determine how much cash was paid on accounts payable during October. b. On September 30, Valerian Co. had a $103,000 balance in Accounts Receivable. During October, the company collected $103,390 from its credit customers. The October 31 balance in Accounts Receivable was $90,000. Determine the amount of sales on account that occurred in October. c. During October, Alameda Company had $103,500 of cash receipts and $104,150 of cash disbursements. The October 31 Cash balance was $19,100. Determine how much cash the company had at the close of business on September 30. Complete this question by entering your answers in the tabs below. Required A Required B Required C Corentine Co. had $153,000 of accounts payable on September 30 and $133,000 on…
Pierce Corporation reported a $3,600 balance in accounts receivable on January 1, 2014. During the year, $24,800 of sales on account were made. During the year, Price wrote off accounts receivable of $1,700 as uncollectible. If the ending balance of accounts receivable is $2,000, what is the amount of cash received from customers? Multiple Choice $21,200 $21,500 $28,400 $24,700
QUESTION: NATCHER CORPORATION'S ACCOUNTS RECEIVABLE AT THE END OF YEAR 2 WAS $155,000 AND ITS ACCOUNTS RECEIVABLE AT THE END OF YEAR 1 WAS $161,000. THE COMPANY'S INVENTORY AT THE END OF YEAR 2 WAS $156,000 AND ITS INVENTORY AT THE END OF YEAR 1 WAS $149,000. SALES, ALL ON THE ACCOUNT, $1,411,000 IN YEAR 2. COST OF GOODS SOLD AMOUNTED ΤΟ $828,000 IN YEAR 2. THE COMPANY'S OPERATING CYCLE FOR YEAR 2 IS CLOSEST TO: (ASSUME 365 DAYS A YEAR. DO NOT ROUND YOUR INTERMEDIATE ANSWERS.) AMOUNTED TO
What is the company's cash cycle for this accounting question?
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Use the information in each of the following separate cases to calculate the unknown amount. a. Corentine Company had $157,000 of accounts payable on September 30 and $135,000 on October 31. Total purchases on credit during October were $286,000. Determine how much cash was paid on accounts payable during October. b. On September 30, Valerian Company had a $105,000 balance in Accounts Receivable. During October, the company collected $105,390 from its credit customers. The October 31 balance in Accounts Receivable was $94,000. Determine the amount of sales on credit that occurred in October. c. During October, Alameda Company had $107,500 of cash receipts and $108,150 of cash disbursements. The October 31 Cash balance was $21,100. Determine how much cash the company had at the close of business on September 30. Complete this question by entering your answers in the tabs below. Required A Required B Required C On September 30, Valerian Company had a $105,000 balance in Accounts…

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