Determine the cash payments made during July on these financial accounting question On July 1, the cash account balance for Henderson Corp. was$25,480. During July, cash receipts totalled $315,200, and theJuly 31 balance was $18,320. Determine the cash paymentsmade during July.

Step 1: Analysis of information givenBeginning Cash Balance (July 1) = $25,480Cash Receipts during…

Answered: On July 1, the cash account balance for…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

On June 1, the cash account balance was $94,580. During June, cash receipts totaled $348,100 and the June 30 balance was $71,330. Determine the cash payments made during June.
what is the cash receipts for July if the cash balance is 26,590 and the totaled cash payment is 224,240 and the ending balance is 39,650
The companys balance sheet showed an accounts receivble balance of $80,000 at the begininng of the year and $47,000 at the end of the year. The company reported $720,000 in credit sales for the year. What was the amount of cash collected on account receivables durig the year
During the year, Tempo Inc. has monthly cash expenses of $144,468. On December 31, its cash balance is $1,829,210. The ratio of cash to monthly cash expenses (rounded to one decimal place) is Oa. 13.7 months Ob. 12.7 months Oc. 6.4 months Od. 7.9 months
Bailey Co earns $27,792 of revenue on account and in $6,256 cash revenue transactions in Year 1. Cash collections of receivables amount to $7,152 in Year 1 with the remainder being collected in Year 2. Based on this information alone the company’s financial statements would show Total Revenue in Year 1 of $_
On June 1, the cash account balance was $96,980. During June, cash receipts totaled $342,630 and the June 30 balance was $66,090. Determine the cash payments made during June. Previous Nex a se %24
Holloway Company earned $6,200 of service revenue on account during Year 1. The company collected $5,270 cash from accounts recievable during Year 1. a. the balance of the accounts recievable that would be reported on the Decmeber 31,Year1,balance sheet b. the amount of net income that would be reported on the Year 1 income statement. c. the amount of net cash flow from operating activites that would be reported on the Year 1 statement of cash flows d. the amount of retained earnings that would be reported on the Year 1 balance sheet
Domestic
The following information relates to a company’s accounts receivable: gross accounts receivable balance at the beginning of the year, $300,000; allowance for uncollectible accounts at the beginning of the year, $25,000 (credit balance); credit sales during the year, $1,500,000; accounts receivable written off during the year, $16,000; cash collections from customers, $1,450,000. Assuming the company estimates that future bad debts will equal 10% of the year-end balance in accounts receivable. 1. Calculate bad debt expense for the year.2. Calculate the year-end balance in the allowance for uncollectible accounts.
The following information relates to a company’s accounts receivable: gross accounts receivable balance at the beginning of the year, $350,000; allowance for uncollectible accounts at the beginning of the year, $24,000 (credit balance); credit sales during the year, $1,200,000; accounts receivable written off during the year, $15,000; cash collections from customers, $1,100,000. Assuming the company estimates that future bad debts will equal 12% of the year-end balance in accounts receivable.1. Calculate bad debt expense for the year.2. Calculate the year-end balance in the allowance for uncollectible accounts.
On April 1, the cash account balance was $37,690. During April, cash receipts totaled $459,690 and the April 30 balance was $23,620. Determine the cash payments made during April. Accounting
Gibson Company engaged in the following transactions for Year 1. The beginning cash balance was $28,100 and the ending cash balance was $74,991. 1. Sales on account were $283,100. The beginning receivables balance was $94,700 and the ending balance was $77,000. 2. Salaries expense for the period was $55,460. The beginning salaries payable balance was $3,815 and the ending balance was $2,180. 3. Other operating expenses for the period were $120,170. The beginning other operating expenses payable balance was $4,860 and the ending balance was $9,181. 4. Recorded $19,330 of depreciation expense. The beginning and ending balances in the Accumulated Depreciation account were $14,340 and $33,670, respectively. 5. The Equipment account had beginning and ending balances of $211,970 and $238,570, respectively. There were no sales of equipment during the period. 6. The beginning and ending balances in the Notes Payable account were $48,500 and $150,500, respectively. There were no payoffs of…

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

On July 1, the cash account balance for Henderson Corp. was $25,480. During July, cash receipts totalled $315,200, and the July 31 balance was $18,320. Determine the cash payments made during July.