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NUBD Company had the following transactions in 2021, their first year of operations Sales (90% collected in 2021) Bad debts write-offs Disbursements for cost and expenses Disbursement for income taxes Purchase of fixed assets, all was paid in cash Depreciation of fixed assets Proceeds from issuance of common stock Proceeds from short-term borrowings Payments on short-term borrowings P1,500,000 60,000 1,200,000 90,000 400,000 80,000 500,000 100,000 60,000

NUBD Company had the following transactions in 2021, their first year of operations Sales (90% collected in 2021) Bad debts write-offs Disbursements for cost and expenses Disbursement for income taxes Purchase of fixed assets, all was paid in cash Depreciation of fixed assets Proceeds from issuance of common stock Proceeds from short-term borrowings Payments on short-term borrowings P1,500,000 60,000 1,200,000 90,000 400,000 80,000 500,000 100,000 60,000

FINANCIAL ACCOUNTING
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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What is the cash balance at December 31, 2021?

 
NUBD Company had the following transactions in 2021, their first year of operations Sales (90% collected in 2021) Bad debts write-offs Disbursements for cost and expenses Disbursement for income taxes Purchase of fixed assets, all was paid in cash Depreciation of fixed assets Proceeds from issuance of common stock Proceeds from short-term borrowings Payments on short-term borrowings P1,500,000 60,000 1,200,000 90,000 400,000 80,000 500,000 100,000 60,000
Transcribed Image Text:NUBD Company had the following transactions in 2021, their first year of operations Sales (90% collected in 2021) Bad debts write-offs Disbursements for cost and expenses Disbursement for income taxes Purchase of fixed assets, all was paid in cash Depreciation of fixed assets Proceeds from issuance of common stock Proceeds from short-term borrowings Payments on short-term borrowings P1,500,000 60,000 1,200,000 90,000 400,000 80,000 500,000 100,000 60,000
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