On December 31, 2017, Tyrone company had the following cash balances:
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- The following items appeared on the financial statements of Washington Company. Line Item Description Amount Accounts receivable, January 1 $13,084 Accounts receivable, December 31 6,949 Accounts payable, January 1 5,909 Accounts payable, December 31 9,591 Inventory, January 1 8,120 Inventory, December 31 16,988 Sales 64,741 Cost of goods sold 32,521 Washington Company uses the direct method to report cash flows from (used for) operating activities. Assume that all accounts payable are owed to merchandise suppliers Cash received from customers during the year isThe following information is available for Davis Company and Bender Inc.: Account Cash Cash equivalents Current notes receivable Accounts receivable Prepaid expenses Inventory Fixed assets Accumulated depreciation-Fixed assets Accounts payable Current accrued liabilities Mortgage payable Equity Total Davis Company Dr. $321 88 56 603 55 714 920 $2,757 Davis Company Cr. $415 260 213 917 952 $2,757 Bender Inc. Dr. $425 95 46 307 85 898 755 $2,611 a. Compute the quick ratio for each company. Round ratios to two decimal places. Bender Inc. Cr. $225 198 149 824 1,215 $2,611Hamilton Company reported an increase of $400,000 in its accounts receivable during the year 2018. The company's statement of cash flows for 2018 reported $1.3 million of cash received from customers. What amount of net sales must Hamilton have recorded in 2018? 8 o11354 Multiple Cholce $900,000 $1700,000 $400.000 $1.300,000
- From the following information, balance the ledger Cash A/c Date Particulars Amount Date Particulars Amount 1.6.2017 CAPITAL 84000 5.6.2017 Purcahses 14600 10.6.2017 sales 9500 30.6.2017 General expenses 178 30.6.2017 Salaries 4500 30.6.17 Bal C/d ? Select one: a. 84222 OMR b. 45522 OMR c. 74222 OMR d. 94222 OMRRizal Company had the following balances at December 31, 2022: Cash in checking account Cash in money market account - 60 days Treasury bill, purchased Dec. 1, 2022 maturing Feb 28, 2023 Treasury note, purchased Mar. 1, 2022 maturing Feb. 28,2023 P500,000 200,000 500,000 700,000 What amount should Rizal Company report as cash and cash equivalents in its December 31, 2022 statement of financial position?Presented below is information for Windsor, Inc. for 2017: 1. Beginning-of-the-year Accounts Receivable balance was $173,000. Net sales for the year were $1,400,000. $150,000 of the sales were cash sales. Windsor does not offer cash discounts for 2. early payment. 3. Collections on accounts receivable during the year were $1,202,000. Windsor plans to factor accounts receivable totaling $60,000 at the end of the year. Windsor will transfer the accounts to Herzog Factors, Inc. with recourse. Herzog Factors will retain 3% of the balances for probable adjustments and assesses a finance charge of 5%. The fair value of the recourse obligation is $1,600.
- The following balance sheet is for the Ballyhoo Company forfiscal year-end 2014. Please fill in all missingdata. Assets Liabilities and Equity_____________ Cash $4,300 Accountspayable $2,340 Accounts receivable _____ Notespayable 4,300 Inventories 8,200 Accruals 1,620 Total current assets$14,300 Total currentliabs. _____ Gross plant and equip._____ Long-termbonds _____ Less: accum depr. 5,630 Totaldebt $13,100 Net plant and equip. _____ Common stock(100 shares) 6,300 Retainedearnings _____ Total Common equity $13,800 TotalAssets _______ Preferred Stock _____ Total liabs &equity $30,000A company reported the following information: Accounts receivable, December 31, 2023: $122,000 Accounts receivable, December 31, 2022: $113,000 Sales (all on credit) for 2023: $850,000 Accounts receivable, December 31, 2023 $122,000 Accounts receivable, December 31, 2022 113,000 Sales (all on credit) for 2023 850,000 How much cash was collected from customers during 2023?Dinesh
- The following items appeared on the financial statements of Washington Company. Line Item Description Amount Accounts receivable, January 1 $13,395 Accounts receivable, December 31 6,901 Accounts payable, January 1 5,645 Accounts payable, December 31 8,721 Inventory, January 1 6,686 Inventory, December 31 16,260 Sales 73,071 Cost of goods sold 34,443 Washington Company uses the direct method to report cash flows from (used for) operating activities. Assume that all accounts payable are owed to merchandise suppliers. Cash payments for merchandise wereCompany A's net credit sales in 2020 and 2021 are 21115 and 35118 respectively. Cost of sales in 2020 is 15432, and in 2021 is 17088. Company A'a account receivable in 2020 and 2021 are 500 and 1000 respectively and its inventory in 2020 and 2021 are 2839 and 3489 respectively. Company A's cash collections from customers in 2021 are: