Don't provide answer in image format Use the information in each of the following separate cases to calculate the unknown amount.a. Corentine Co. had $152.000 of accounts payable on September 30 and $132,500 on October 31, Total purchases on accountduring October were $281,000. Determine how much cash was paid on accounts payable during October.b. On September 30, Valerian Co. had a $102,500 balance in Accounts Receivable. During October, the company collected $102,890from its credit customers. The October 31 balance in Accounts Receivable was $89,000. Determine the amount of sales on accountthat occurred Octoberc. During October, Alameda Company had $102,500 of cash receipts and $103,150 of cash disbursements. The October 31 Cashbalance was $18,600. 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 CCorentine Co. had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total purchases on accountduring October were $281,000. Determine how much cash was paid on accounts payable during OctoberAccounts PayableBeginning balanceEnding balance3 PenRequired B >

T-account is the general ledger account that is prepared to post journal entries. It is the second…

Use the information in each of the following separate cases to calculate the unknown amount. a. Corentine Co. had $152.000 of accounts payable on September 30 and $132.500 on October 31. Total purchases on account during October were $281,000. Determine how much cash was paid on accounts payable during October. b. On September 30, Valerian Co. had a $102,500 balance in Accounts Receivable. During October, the company collected $102,890 from its credit customers. The October 31 balance in Accounts Receivable was $89,000. Determine the amount of sales on account that occurred in October c. During October, Alameda Company had $102.500 of cash receipts and $103,150 of cash disbursements. The October 31 Cash balance was $18,600. Determine how much cash the company had at the close of business on September 30.

Use the information in each of the following separate cases to calculate the unknown amount. a. Corentine Co. had $152.000 of accounts payable on September 30 and $132.500 on October 31. Total purchases on account during October were $281,000. Determine how much cash was paid on accounts payable during October. b. On September 30, Valerian Co. had a $102,500 balance in Accounts Receivable. During October, the company collected $102,890 from its credit customers. The October 31 balance in Accounts Receivable was $89,000. Determine the amount of sales on account that occurred in October c. During October, Alameda Company had $102.500 of cash receipts and $103,150 of cash disbursements. The October 31 Cash balance was $18,600. Determine how much cash the company had at the close of business on September 30.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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Use the information in each of the following separate cases to calculate the unknown amount.
Use the information in each of the following separate cases to calculate the unknown amount. a. Corentine Co. had $153,000 of accounts payable on September 30 and $133,000 on October 31. Total purchases on account during October were $282,000. Determine how much cash was paid on accounts payable during October. b. On September 30, Valerian Co. had a $103,000 balance in Accounts Receivable. During October, the company collected $103,390 from its credit customers. The October 31 balance in Accounts Receivable was $90,000. Determine the amount of sales on account that occurred in October. c. During October, Alameda Company had $103,500 of cash receipts and $104,150 of cash disbursements. The October 31 Cash balance was $19,100. 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 Corentine Co. had $153,000 of accounts payable on September 30 and $133,000 on…
Use the information in each of the following separate cases to calculate the unknown amount. a. Corentine Company had $157,000 of accounts payable on September 30 and $135,000 on October 31. Total purchases on credit during October were $286,000. Determine how much cash was paid on accounts payable during October. b. On September 30, Valerian Company had a $105,000 balance in Accounts Receivable. During October, the company collected $105,390 from its credit customers. The October 31 balance in Accounts Receivable was $94,000. Determine the amount of sales on credit that occurred in October. c. During October, Alameda Company had $107,500 of cash receipts and $108,150 of cash disbursements. The October 31 Cash balance was $21,100. 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 On September 30, Valerian Company had a $105,000 balance in Accounts…
calculate the unknown amount. On September 30, Valerian Co. had a $102,500 balance in Accounts Receivable. During October, the company collected $102,890 from its credit customers. The October 31 balance in Accounts Receivable was $89,000. Determine the amount of sales on account that occurred in October.
Corentine Co. had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total purchases on account during October were $281,000. Determine how much cash was paid on accounts payable during October. On September 30, Valerian Co. had a $102,500 balance in Accounts Receivable. During October, the company collected $102,890 from its credit customers. The October 31 balance in Accounts Receivable was $89,000. Determine the amount of sales on account that occurred in October. During October, Alameda Company had $102,500 of cash receipts and $103,150 of cash disbursements. The October 31 Cash balance was $18,600. Determine how much cash the company had at the close of business on September 30. Corentine Co. had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total purchases on account during October were $281,000. Determine how much cash was paid on accounts payable during October.
Corentine Company had $152,000 of accounts payable on September 30 and $132, 500 on October 31. Total purchases on credit during October were $281,000. Determine how much cash was paid on accounts payable during October and make an accounts payable table. On September 30, Valerian Company had a $102, 500 balance in Accounts Receivable. During October, the company collected $102,890 from its credit customers. The October 31 balance in Accounts Receivable was $89,000. Determine the amount of sales on credit that occurred in October and make an accounts receiveable table. During October, Alameda Company had $102, 500 of cash receipts and $103, 150 of cash disbursements. The October 31 Cash balance was $18,600. Determine how much cash the company had at the close of business on September 30 and make a cash table.
For the month of December, the records of ABC Corporation show the following information: Gross sales – 120,000; Cash received on accounts receivable - P 70,000; Cash sales - 60,000; Accounts Receivable, December 1 - 160,000; Accounts Receivable written off as uncollectible - 2,000. The corporation uses the direct write-off method in accounting for uncollectible accounts receivable. What is the balance of accounts receivable as of December 31?
calculate the unknown amount. Corentine Co. had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total purchases on account during October were $281,000. Determine how much cash was paid on accounts payable during October.
On September 30, Valerian Co. had a $111,500 balance in Accounts Receivable. During October, the company collected $111,890 from its credit customers. The October 31 balance in Accounts Receivable was $107,000. Determine the amount of sales on account that occurred in October.
Mifflin Co. reported the following for the current year: net sales of $60,000; cost of goods sold of $38,000; beginning balance in accounts receivable of $14,000; and ending balance in accounts receivable of $6,000. Compute (a) accounts receivable turnover and (b) days’ sales uncollected. Round to one decimal. Hint: Recall that accounts receivable turnover uses average accounts receivable and days’ sales uncollected uses the ending balance in accounts receivable.
A company recorded the following transactions: cash sales $10,000, credit sales $20,000, cash received from customers $15,000, and accounts receivable at the beginning of the period $5,000. Calculate the accounts receivable turnover ratio and the average collection period.
The financial statements of the Novak Corp. report net sales of $300000 and accounts receivable of $55200 and $27600 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation.)