J. The following information is shown in the accounting records of Bonus Inc.,: Dec. 31 Jan. 1 P 186,000 201,000 258,000 159,000 Cash ? Accounts receivable Merchandise inventory Accounts payable 273,000 234,000 144,000 9 Total sales and cost of sales for 2013 were P 2,394,000 and P 1,749,000, respectively. All sales and purchases were made on credit. Various operating expenses of P 321,000 were paid in cash. Assume that there were no other pertinent transactions. Compute for the... 16. Collections from accounts receivables Payment of accounts payable Cash balance on Dec. 31, 2013 17. 18.
J. The following information is shown in the accounting records of Bonus Inc.,: Dec. 31 Jan. 1 P 186,000 201,000 258,000 159,000 Cash ? Accounts receivable Merchandise inventory Accounts payable 273,000 234,000 144,000 9 Total sales and cost of sales for 2013 were P 2,394,000 and P 1,749,000, respectively. All sales and purchases were made on credit. Various operating expenses of P 321,000 were paid in cash. Assume that there were no other pertinent transactions. Compute for the... 16. Collections from accounts receivables Payment of accounts payable Cash balance on Dec. 31, 2013 17. 18.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
These are the answers to the solution manual:
16.P2,322,000
17.P1,740,000
18.P447,000
21.P315,261.50
Are they really the correct answers? Please show the computation from 16-18, and 21, please. Thank you!
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