Use the information in each of the following separate cases to calculate the unknown amount. a. Corentine Company had $159,000 of accounts payable on September 30 and $136,000 on October 31. Total purchases on credit during October were $288,000. Determine how much cash was paid on accounts payable during October. b. On September 30, Valerian Company had a $106,000 balance in Accounts Receivable. During October, the company collected $106,390 from its credit customers. The October 31 balance in Accounts Receivable was $96,000. Determine the amount of sales on credit that occurred in October. c. During October, Alameda Company had $109,500 of cash receipts and $110,150 of cash disbursements. The October 31 Cash balance was $22,100. Determine how much cash the company had at the close of business on September 30. Complete this question by entering your answers in the tabs below. Required A Required B Required C During October, Alameda Company had $109,500 of cash receipts and $110,150 of cash disbursements. The October 31 Cash balance was $22,100. Determine how much cash the company had at the close of business on September 30. Cash Beginning balance $ 159,000 Cash receipts 109,500 Cash disbursements 110,150 Ending balance $ 158,350 < Required B Required C >
Use the information in each of the following separate cases to calculate the unknown amount. a. Corentine Company had $159,000 of accounts payable on September 30 and $136,000 on October 31. Total purchases on credit during October were $288,000. Determine how much cash was paid on accounts payable during October. b. On September 30, Valerian Company had a $106,000 balance in Accounts Receivable. During October, the company collected $106,390 from its credit customers. The October 31 balance in Accounts Receivable was $96,000. Determine the amount of sales on credit that occurred in October. c. During October, Alameda Company had $109,500 of cash receipts and $110,150 of cash disbursements. The October 31 Cash balance was $22,100. Determine how much cash the company had at the close of business on September 30. Complete this question by entering your answers in the tabs below. Required A Required B Required C During October, Alameda Company had $109,500 of cash receipts and $110,150 of cash disbursements. The October 31 Cash balance was $22,100. Determine how much cash the company had at the close of business on September 30. Cash Beginning balance $ 159,000 Cash receipts 109,500 Cash disbursements 110,150 Ending balance $ 158,350 < Required B Required C >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Use the information in each of the following separate cases to calculate the unknown amount.
a. Corentine Company had $159,000 of accounts payable on September 30 and $136,000 on October 31. Total purchases on credit
during October were $288,000. Determine how much cash was paid on accounts payable during October.
b. On September 30, Valerian Company had a $106,000 balance in Accounts Receivable. During October, the company collected
$106,390 from its credit customers. The October 31 balance in Accounts Receivable was $96,000. Determine the amount of sales
on credit that occurred in October.
c. During October, Alameda Company had $109,500 of cash receipts and $110,150 of cash disbursements. The October 31 Cash
balance was $22,100. Determine how much cash the company had at the close of business on September 30.
Complete this question by entering your answers in the tabs below.
Required A Required B Required C
During October, Alameda Company had $109,500 of cash receipts and $110,150 of cash disbursements. The October 31 Cash
balance was $22,100. Determine how much cash the company had at the close of business on September 30.
Cash
Beginning balance
$
159,000
Cash receipts
109,500 Cash disbursements
110,150
Ending balance
$
158,350
< Required B
Required C >
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