mn Chapter 1 Post-Class Homework - Work- Microsoft Edgehttps://www.ameengage.com/mod/quiz/attempt.php?attempt=4798713&cmid=1045348&page=4AME EngageQuestion 5Not checkedMarked out35.00P FlagquestionTake me to the textThe following information pertains to Timothy Dalton's personal financial transactions.Opening Balances - December 1, 2016Cash$14,600$800$22,700$164,100$6,500$48,700Contents of HomeAutomobileHouseUnpaid AccountsBank LoanTransactions for the month of December 2016.1. Paid miscellaneous expenses for the month of December with $1,000 cash.2. Purchased a new computer worth $1,000 with cash.3. Paid credit card liability of $6,500 (Unpaid Accounts) in full.4. Paid telephone, electricity and water bill for December with $1,200 cash.5. Purchased $2,100 of groceries and goods for personal consumption with cash.6. Deposited $4,600 salary earned during the month.Do not enter dollar signs or commas in the input boxes.Use the negative sign for a deficit.The T-Account fields are labeled by transaction number. Record each transaction by entering the value into the corresponding T-Account field.Requireda) Using the information provided, record the opening balances in the T-accounts.b) Record the transactions for the month of December in the T-accounts.Personal Balance SheetAs at December 31, 2016Q Search.LONGED 18 0Lr m Chapter 1 Post-Class Homework - Work - Microsoft Edgehttps://www.ameengage.com/mod/quiz/attempt.php?attempt=4798713&cmid=1045348&page=4AME Engage144HzOpening: $Transaction #1IncreaseTransaction #2Transaction #3Transaction #4Transaction # 5Transaction # 6Ending: $Assets (what we OWN)IncreaseCashContents of HomePersonal Balance SheetAs at December 31, 2016DecreaseDecreaseQ Search.DecreaseTransaction #1Transaction #2Transaction #3Transaction #4Transaction #5Transaction #6Liabilities (what we OWE)DecreaseUnpaid AccountsOpening: $Ending: $Bank LoanIncreaseIncreasePr308

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Answered: of Home le counts $14,600 $800 $22,700…

Business

Accounting

of Home le counts $14,600 $800 $22,700 $164,100 $6,500 $48,700 s for the month of Do

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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Please help me with show all calculation thanku
Total income
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Problem No. 2 Receivables Investment McEwan Industries sells on terms of 3/10, net 25. Total sales for the year are $1,465,000; 40% of the customers pay on the 10th day and take discounts, while the other 60% pay, on average, 80 days after their purchases. Assume 365 days in year for your calculations. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. a. What is the days sales outstanding? Round your answer to two decimal places. b. What is the average amount of receivables? Round your answer to the nearest cent. Do not round intermediate calculations. c. What is the percentage cost of trade credit to customers who take the discount? Round your answers to two decimal places. d. What is the percentage cost of trade credit to customers who do not take the discount and pay in 80 days? Round your answers to two decimal places. Do not round intermediate calculations. e. What would…
November December January February March Sales $9,500 $10,000 $11,000 $12,100 $13,310 All sales are for credit, with 80% collected the following month and 20% collected during the second month. Purchases of raw materials equals 60% of sales. Purchases are made in the month of the sale, but suppliers are paid in the month following the purchase. Wages are $1,000 per month, rent is $1,500, taxes are $500, and a $1,000 loan payment is due in February. Monthly interest expense is $200. What are the net cash flows in January, February, and March?
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