Which one of the following is a use of cash? Group of answer choices (A).payment to a supplier (B).payment received from a customer on his or her account (C).decrease in accounts receivables (D).sale of common stock (E).sale of inventory to a cash customer

Which one of the following is a use of cash? Group of answer choices (A).payment to a supplier (B).payment received from a customer on his or her account (C).decrease in accounts receivables (D).sale of common stock (E).sale of inventory to a cash customer

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Required information [The following information applies to the questions displayed below.] The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,318 debit balance, but its July bank statement shows a $27,304 cash balance. b. Check Number 3031 for $1,360, Check Number 3065 for $456, and Check Number 3069 for $2,128 are outstanding checks as of July 31. c. Check Number 3056 for July rent expense was correctly written and drawn for $1,270 but was erroneously entered in the accounting records as $1,260. d. The July bank statement shows the bank collected $7,500 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. f. The July statement shows a $11 bank service…
Preparing a Schedule of Cash Collections on Accounts Receivable Kailua and Company is a legal services firm. All sales of legal services are billed to the client (there are no cash sales). Kailua expects that, on average, 20% will be paid in the month of billing, 50% will be paid in the month following billing, and 25% will be paid in the second month following billing. For the next 5 months, the following sales billings are expected: May $84,000 June 100,800 July 77,000 August 86,700 September 92,000 Required: Prepare a schedule showing the cash expected in payments on accounts receivable in August and in September. If an amount box does not require an entry, leave it blank or enter "0". Be sure to enter percentages as whole numbers. Kailua and Company Schedule August September June: 2$ % July: 2$ % 24 % August: 2$
do i add the opening balance after the difference of opening balance of bank statement and cash book gives me zero when i update the cash book?
Your new company paid the invoice for their account with Alli's Broom Supply Company. What would your journal entry look like when you record this transaction? a) Debit Cash; Credit Accounts Payable b) Debit Cash; Credit Supplies Expense c) Debit Accounts Receivable; Credit Cash d) Debit Accounts Payable; Credit Cash
[The following Information applles to the quIestions alsplayed below Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and It reported two checks outstanding, No. 5888 for $1,028.05 and No. 5893 for $494.25. The following Information Is avallable for Its September 30 reconcilation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 16,800.45 9,628.85 11,272.85 18,453.25 CHECKS AND DEBITS DEPOSITS AND CREDITS Date No. Anount Date Aпount 09/03 09/04 09/07 09/17 09/28 09/22 09/22 09/28 69/29 5888 1,e28.es 69/05 09/12 1,183.75 5982 719.90 2.226.90 5981 1,824,25 09/21 4,093.ee 2,351.7e 09/25 09/30 09/30 6e0.25 NSF 5985 937.00 12.5e IN 1,485.ee CM 5983 399.10 2,e90.ee 5984 5987 213.85 5989 1,807.65 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Date Debit 1,183.75 2,226.90 4,093.ee 2,351.7e 1,682.75 Sep. 5 12 21 25 30 11,458.18 Cash Disbursenents Check…
Analyze each transaction and match it with the correct journal entry as stated. Be sure to look at each transaction carefully to ensure you make the correct choice. Purchase on account some office equipment Paid for utilities expense Paid the bank back the money previously borrowed on a note Paid the telephone bill received Made a partial payment to a creditor on account Took cash out of the business to pay for a personal bill Record revenues earned, but not collected yet Record internet expenses incurred, but not paid yet Received cash for the return of some equipment that was defective Received Payment from customer on an accounts receivable Made payment to an accounts payable Paid salary for office administrator Dr. Office Equipment; Cr. Acc Dr. Utilities Expense; Cr. Casl Dr. Accounts Payable; Cr. Cas Dr. Telephone Expense; Cr. C✓ Dr. Cash; Cr. Account Receivi Dr. Accounts Payable; Cr. Ca: ✓ Dr. Internet Expense; Cr. Acc Dr. Internet Expense; Cr. Acc Dr. Cash; Cr. Account Receiv:…
A £500 cash sale was entered as a debit in the sales account and a credit in the bank account. What type of error is this? Select one: A. Compensating B. Ommission C. Reversal of entries O D. Original entry E. Commission O F. Principle
Suppose a co-worker has recorded a cash disbursement twice (Supplies Expense was debited twice for $100 and Cash was credited twice for $100) and wants you to record a correcting entry that will reverse the mistake. The correcting entry will record a debit to the Cash account and a credit to the Supplies account. Would you make this correcting entry? What should you investigate before making a decision about the correcting entry? Are there any other steps you would take to address this issue?

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