Sample Exercise ope EA7. Forest Company had the following transactions during the month of December. What is the December 31 cash balance? Cash sales Payments for inventory Investments by owners Supplies used Cash withdrawals Inventory received Wages paid Cash balance Dec. 1 $3,250 1,760 3,000 175 260 2,500 2,390 4,250

Sample Exercise ope EA7. Forest Company had the following transactions during the month of December. What is the December 31 cash balance? Cash sales Payments for inventory Investments by owners Supplies used Cash withdrawals Inventory received Wages paid Cash balance Dec. 1 $3,250 1,760 3,000 175 260 2,500 2,390 4,250

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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Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

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Sample Exercise
oper
EA7. Forest Company had the following transactions during the month
of December. What is the December 31 cash balance?
Cash sales
$3,250
1,760
Payments for inventory
Investments by owners
Supplies used
Cash withdrawals
Inventory received
Wages paid
Cash balance Dec. 1
3,000
175
260
2,500
2,390
4,250
需

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Accounting for Cash and cash equivalents

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