Cheск ппуSources of cashCollections on current sales$4210 O 5220 S200 VCollections on amounts receivable$4145 $210 O$220Total sources of cash24355430$4420Uses of cashPayments of accounts payable140 $95 V $85Cash purchases$125 O $135 S115Labor and administrative expenses85 $85 S85Capital expenditures2$210 STaxes, interest, and dividends65 M S6565Total uses of cash2462538024350Net cash inflow2$(270) O S(50)(70) 8Cash at start of period210(60) X S(10)Net cash inflow24(270) O S50 S70Cash at end of period(60)(10)60!3!0.Minimum operating cash balanceCumulative short-term financing required210%3D270(10)60< Prev4 of 8Next >earch0000000000 Return tThe following data are from the budget of Ritewell Publishers. Half the company's sales are transacted on a cash basis. The other halfare paid for with a 1-month delay. The company pays all of its credit purchases with a 1-month delay. Credit purchases in January were$140, and total sales in January were $290.February March$ 420April$ 400Total sales$ 440125135115Cash purchasesCredit purchasesLabor and administrative purchases958595858585Taxes, interest, and dividends656565210Capital expendituresComplete the following cash budget. (Leave no cells blank. Enter 'O' when necessary. Negative amounts should be indicated by aminus sign.)* Answer is complete but not entirely correct.FebruaryMarchAprilSources of cashCollections on current salesIS210 O S220 S200145 S210 S220Collections on amounts receivable< Prev4 of 8Next >arch

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neck my Worn RIVw Sources of cash 210 24 220 $4 200 Collections on current sales $ 145 24 210 O $ 220 Collections on amounts receivable 2$ 355 430 $4 420 Total sources of cash Uses of cash 140 95 O $ 85 Payments of accounts payable $24 125 135 115 O Cash purchases 2$ 85 $ 85 85 Labor and administrative expenses 210 S Capital expenditures 65 S 65 S 65 Taxes, interest, and dividends 625 380 24 350 Total uses of cash (270) O S (50) S (70) Net cash inflow (60) S 50 S 210 (10) X Cash at start of period 70 (270) O S Net cash inflow (60) (10) 60 Cash at end of period 210 Minimum operating cash balance Cumulative short-term financing required 270 (10) 60 %3D %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24

neck my Worn RIVw Sources of cash 210 24 220 $4 200 Collections on current sales $ 145 24 210 O $ 220 Collections on amounts receivable 2$ 355 430 $4 420 Total sources of cash Uses of cash 140 95 O $ 85 Payments of accounts payable $24 125 135 115 O Cash purchases 2$ 85 $ 85 85 Labor and administrative expenses 210 S Capital expenditures 65 S 65 S 65 Taxes, interest, and dividends 625 380 24 350 Total uses of cash (270) O S (50) S (70) Net cash inflow (60) S 50 S 210 (10) X Cash at start of period 70 (270) O S Net cash inflow (60) (10) 60 Cash at end of period 210 Minimum operating cash balance Cumulative short-term financing required 270 (10) 60 %3D %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24

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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QUESTION 9 Assume thst the Polty Casdwor of a $400 potty cash fund has $40 in canh phs So0 in recopts at the end of then monh The entry to replereh mburse) the petty cns fund wi wude O A dobt to Cash for $00 O A crede to Cash for S00 O Ac to Cash for S40 O Adebit lo Cash kor $340
CHART OF ACCOUNTS 101 Cash 401 Service Revenue 211 Notes Payable 212 Accounts Payable 451 Rent Revenue 111 Notes Receivable 214 Interest Payable 491 Interest Revenue 112 Accounts Receivable 114 Interest Receivable 216 Wages Payable 511 Depreciation Expense 125 Supplies 261 Unearned Revenue 513 Insurance Expense 130 Prepaid Insurance 311 Common Stock 515 Rent Expense 320 Retained Earnings 517 Wages Expense 519 Supplies Expense 132 Prepaid Rent 161 Equipment 162 Accumulated Depreciation 591 Interest Expense Corporation purchased equipment on July 1 and gave an 18-month, 10% interest-bearing note with a face value of $45,000. Depreciation will be for 10 years using the straight-line method. The December 31 depreciation adjusting entry would be: Date Enter Account Number Debit Credit XX/XX/XX Would this adjusting entry be reversed? (Y for Yes or N for No)
"A Sticky Patch: Completing the Accounting Cycle for ROYAL JELLY TRADING" ROYAL JELLY TRADING, which follows GAAP and uses the periodic inventory system, is a merchandising business that buys and sells various kinds of jelly candies. Its trial balance as of fiscal year-end September 30, 2020, before any adjustments, can be found on the next page: Information for adjusting entries are as follows: 1. Interest has accrued on the customer's P20,000 60-day 12% note dated August 21, 2020 and this remained unrecorded as of year-end. 2. Rent for the month of September amounting to P15,000 has not been received as at year-end. 3. The company pays its employees their salaries every Friday for work done Monday to Friday of that week. Weekly pay is P10,000 for office salaries and P15,000 for store salaries. September 30, 2020 falls on a Wednesday. 4. At year-end, unused office supplies were P18,000, while unused store supplies amounted to P12,000. 5. One-fourth of the Prepaid Insurance Expense…
A/C DR CR Cash 560,000 Accounts Receivbales 3,710,000 Allowance for Bad Debt 290,000 Merchandise Inventory 2,580,000 Store Supplies 1,300,000 Prepaid Insurance 2,775,000 Prepaid Rent 1,000,000 Furniture 2,650,000 Accu Depc'n Furniture 2,080,000 Machinery 1,800,000 Accu Depc'n Machinery 1,328,141 Accounts Payable 630,000 Salary Payable Interest Payable Unearned Sales Revenue 800,000 Note Payable Long Term 2,500,000 Patty Patterson Capital 5,200,000 Patty Person Withdrawals 280,000 Sales Revenue 22,726,859 Sales Count 1,200,000 Sales Returns and Allowances 800,000 Cost of Goods Sold 8,100,000 Salaries Expense 7,270,000 Insurance Expense Utilities Expense 580,000 Rent Expense 950,000 Depc'n Expense - Furniture Depc'n Expense Machinery Store Supplies Expense Gain on Disposal Machinery Bad-Dept Expense Interest Expense 35.555,000…
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What is the cash flow from assets in 2011? Question 10Answer a. $2,247 b. $3,915 c. $1,732 d. $2,961
CHART OF ACCOUNTS General Ledger ASSETS 110 Cash 111 Petty Cash 112 Accounts Receivable 114 Interest Receivable 115 Notes Receivable 116 Merchandise Inventory 117 Supplies 119 Prepaid Insurance 120 Land 123 Delivery Truck 124 Accumulated Depreciation-Delivery Truck 125 Equipment 126 Accumulated Depreciation-Equipment 130 Mineral Rights 131 Accumulated Depletion 132 Goodwill 133 Patents LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends REVENUE 410 Sales 610 Interest Revenue 620 Gain on Sale of Delivery Truck 621 Gain on Sale of Equipment EXPENSES 510 Cost of Merchandise Sold 520 Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Delivery Truck 523 Delivery Expense 524 Repairs and Maintenance Expense 529 Selling…
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