In 2014 Grider Corporation had cash receipts of $35,000 and cash disbursements of $20,000. Grider's ending cash balance at December 31, 2014 was $55,000. What was Grider's beginning cash balance? a. $40,000 b. $50,000 c. $75,000 d. $70,000
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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. $286,400In 2018 Calvia Corporation had cash receipts of $35,000 and cash disbursments of $20,000. Calvia's ending cash balance at December 31,2018 was $65,000. What was Calvia's beginning cash balance?Financial accounting
- 15. Zeta Company reported sales revenue of P4,600,000 in its income statement for the year ended December 31, 2011. Additional information is given below. Under the cash basis of accounting, what amount should be reported as sales revenue for 2011? a. 4,900,000 b. 4,350,000 c. 4,300,000 d. 4,280,000Duncan Corporation began 2018 with a balance in Accounts Receivable of $500,000.Service revenue, all on account, for the year totaled $2,600,000. The company ended theyear with a balance in Accounts Receivable of $700,000. Duncan’s bad-debt write-offs arenonexistent. How much cash did the company collect from customers in 2018?a. $3,300,000b. $2,600,000c. $2,800,000d. $2,400,000Accounting question
- On January 1, 2015, Accounts Receivable was $20,000. Sales on account for 2015 totaled $160,000. The ending balance of Accounts Receivable was $32,000. What is the amount of cash collected from customers? a. $128,000 b. $148,000 c. $172,000 d. $180,000Diane's balance sheets as of December 31, 2016 and 2017 are presented below: 2016 310,000 300,000 0 2017 $443,456 430,000 100,000 17,356) 950,000 ( 318.100) $1.588.000 Cash Accounts receivable, net Long-term notes receivable Discount on long-term notes receivable Property, plant, and equipment at cost Accumulated depreciation 0) 750,000 325,000) $1035.000 TOTAL ASSETS 230,000 220,000 25,000 60,000 200,000 300,000 $1035.000 $175,000 310,000 15,000 110,000 315,000 663,000 $1.588.000 Accrued liabilities Unearned revenues Short-term debt Common stock, $1 par value Additional paid-in-capital Retained earnings TOTAL LIABILITIES & SE Diane's 2017 income statement is presented below: Service revenues Other revenues and gains/losses, net Selling, general, and administrative expenses Interest expense $1,800,000 1,987 1,209,000 1,000 588,013 125,013 463.000 Income before income taxes Income tax expense Net income SELECTED OTHER INFORMATION: 1 On January 1,2017, Diane provided services to a…15. Zeta Company reported sales revenue of P4,600,000 in its income statement for the year ended December 31, 2011. Additional information is given below. Under the cash basis of accounting, what amount should be reported as sales revenue for 2011? 12/31/2010 12/31/2011 Accounts receivable 1,000,000 1,300,000 Allowance for uncollectible accounts 60,000 110,000 Zeta wrote off uncollectible accounts totaling P20,000 during 2011. O a. 4,900,000 O b. 4,350,000 O c. 4,300,000 O d. 4,280,000
- Considering the financial statement information below for the The C’mon Cam! Co., how long is the cash cycle? Item Beginning EndingInventory $9,338 $11,550Accounts Receivable 5,670 6,947Accounts Payable 7,689 9,625 Net Sales $82,544Cost of Goods Sold $58,638 a. 28 daysb. 39 daysc. 65 daysd. 93 days9. Bane Company reported P210,000 in sales. Its opening accounts receivable balance was P45,000 and its ending accounts receivable balance was P50,000. The company also reported P20,000 unearned revenues at the end of the year. What was the amount of cash collected from customers for the year? Group of answer choices 210,000 205,000 215,000 225,000How do I solve E9-18
