At September 1, 2010, Kern Enterprises reported a cash balance of $45,000. During the month, Kern collected cash of $15,000 and made disbursements of $25,000. At September 31, 2010, what is the cash balance? $25,000 credit $35,000 credit $60,000 debit $35,000 debit
Q: Hiram’s Lakeside is a popular restaurant located on Lake Washington in Seattle. The restaurant's…
A: First, we need to calculate the cost per activity for each of the three activities identified by the…
Q: Current Attempt in Progress At December 31, 2023, Whispering Winds Corporation had the following…
A: Net earnings: Income from continuing operations = $25,150,000Discontinued operations =…
Q: please step by step solution.
A: On January 1, 2020, Coronado Corporation purchased 34% of the common stock outstanding of Sandhill…
Q: provide correct answer apsp please
A: First, we need to calculate the total raw materials used in production. This is done by adding the…
Q: ABC Company has $3,100 in Rent Expense, $2,800 in Salaries Expense, and $300 in Supplies Expense at…
A: In accounting, closing entries are journal entries made at the end of an accounting period to…
Q: Help please answer in text form with proper workings and explanation for each and every part and…
A: Step 1:1. Working Calculation of sales collections AprilMayJune April sales collection…
Q: es Post Doc Date Account Title Ref No. Debit Credit ****** Continued ****** 20 Paid $800.00 rent for…
A: Please see journal entries above for each transactions.
Q: help please answer in text form with proper workings and explanation for each and every part and…
A: Audio tapes, photocopiers, and record players are analog devices. Analog devices deal with…
Q: Each incorrect answer cancels out each correcr one. Indicate which of the following statements are…
A: 1. Indirect costs are those factors whose increase or decrease is not related to changes in the…
Q: Which of the following statements is FALSE? Some intangible assets are not required to be amortized.…
A: Let's analyze each statement one by one:Statement 1: Some intangible assets are not required to be…
Q: Sid King has automobile liability insurance in the amount of 50/100/50. He also carries $250…
A: Let's break down the insurance coverage and the settlement to understand how much the insurance…
Q: 1. For each "Account Description," determine which of the five "Account Classifications" applies,…
A: CashThis account represents the physical currency, coins, and balances in bank accounts that a…
Q: Pharoah Corporation had the following transactions pertaining to debt investments. 1 Purchased 60…
A: 1. Purchased Leeds Co. bonds for cashPharoah Corporation purchased 60 Leeds Co. bonds, each with a…
Q: An aging of a company's accounts receivable indicates that $14,000 are estimated to be…
A: The desired balance for the Allowance for Doubtful Accounts is $14,000 (the estimated uncollectible…
Q: Cash collections Miriam Irby is president of MI Corp. Irby has decided to take a month's vaca- tion…
A: a. Expected Cash Collections for October, November, and December:To calculate the expected cash…
Q: None
A:
Q: need answer fast plszz
A: First, we need to calculate the total raw materials used in production. This is done by adding the…
Q: None
A: Step 1: Calculate the price variance per unitPrice variance per unit = Actual cost per unit -…
Q: The Marine Division of Pacific Corporation has average invested assets of $110,000,000. Sales…
A: Step 1: Identify the givenAverage invested asset: $110,000,000Sales revenue: $50,280,000Net…
Q: None
A: Detailed explanation:Employers are legally obligated to pay unemployment tax to help fund the…
Q: None
A: The payback period is the time it takes for an investment to recoup its initial cost through net…
Q: Devon purchased a small business from Art on August 30, 2023, and paid the following amounts for the…
A: To determine the amount Devon can deduct on his 2023 tax return as Section 197 intangible…
Q: If you were to create a graph of this information, which line would it look most like? "Uphill"…
A:
Q: None
A: The entries for IGA (Lessee) from the inception of the lease through the second rental payment on…
Q: Don't give answer in image
A: Dividend are paid only to the 191320000 issued shares Therefore , Dividend declared = 191320000…
Q: What is the npv, payback period, and the internal rate of return for project I.
A: Answer information:Step 1:NPV , IRR and payback period of :Project Ayearcash flowscumulative CF…
Q: 1. Meyer & Smith is a full-service technology company. They provide equipment, installation services…
A: To allocate the transaction price to the equipment, installation, and training based on their…
Q: Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not…
A: ExplanationThe total tax owed by a couple with a taxable income of $500,000, filing jointly or as a…
Q: Allison, the owner of a brewery in Toronto, receives a shipment of barley on April 29, 2014 with an…
A: Hello student! In an R.O.G (Receipt of Goods) term, the discount period starts when the customer…
Q: Refer to the following selected financial information from Phantom Corp. Compute the company's days'…
A: Step 1:Step 2:Step 3: Step 4:
Q: Mercer Asbestos Removal Company removes potentially toxic asbestos insulation from buildings. There…
A: The first stage of activity-based costing involves assigning costs to the activity cost pools. In…
Q: 10 7 points Skipped eBook Print Metallica Bearings, Inc., is a young start-up company. No dividends…
A: Present value at year 7 = D8 / required rate - growth ratePresent value at year 7 = 16.75 / 0.14 -…
Q: Garcia Company sells snowboards. Each snowboard requires direct materials of $111, direct labor of…
A: Step 1 : The unit fixed cost is calculated before calculating the selling price per unitUnit Fixed…
Q: Dividends per share Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as…
A: To determine the dividends per share for each class of stock over the four years, we first need to…
Q: Additional Funds Needed Homework 1. Jill's Wigs Inc. had the following balance sheet last year: Last…
A: A balance sheet is a type of financial statement that shows the condition of a business's finances…
Q: Foam Products, Incorporated, makes foam seat cushions for the automotive and aerospace industries.…
A: The total revenue is calculated by multiplying the selling price per unit by the number of units…
Q: Journalizing equity investment transactions; less than 20% ownership The following equity investment…
A: Step 1: Step 2: Step 3: Step 4:
Q: Ask expert 1. Answer the following: • Prepare a trial balance for the month. • Prepare journal…
A: Journal entries are the first step in the accounting cycle and are used to record all business…
Q: Question 8 Profit Margin is 10 Points A a ratio of Net Income to all revenues B a percentage of all…
A: Profit margin is a financial ratio that shows how much of every dollar earned in sales is translated…
Q: please answer
A:
Q: A bulldozer was purchased for $ 112,700. It has an estimated life of 20 years and a scrap value of $…
A: The straight-line depreciation method is the most commonly used and straightforward depreciation…
Q: The controller's staff at McNichols Lubricants is responsible for preparing quarterly performance…
A: Approach to solving the question: To effectively approach solving this question, we need to break…
Q: Superior Markets, Incorporated, operates three stores in a large metropolitan area. A segmented…
A: Step 1: Allocate & Analyze data : ParticularsNorth Store $South Store $East Store $ Total…
Q: Got answer
A: Step 1: Step 2:Step 3:
Q: Need answer
A: If you have any questions let me know in comment box thankyou for your question.
Q: 9 Check my work 0.9 points Skipped You find a certain stock that had returns of 18 percent,-23…
A: A. Stock return for the missing year. The sum of returns over the known years is 18% - 23% + 16% +…
Q: rm.4
A: (a) Compute the unit product cost using marginal costingMarginal costing, also known as variable…
Q: please give me answer in relatable
A: Requirement b) Roles of Financial Reporting in Capital MarketsIn conclusion, financial reporting…
Q: Asbury Coffee Enterprises (ACE) manufactures two models of coffee grinders: Personal and Commercial.…
A: Let's provide a detailed explanation of how the calculations were made for each part of the…
Q: Problem 5-10 (Algorithmic) Simplified Employee Pensions (LO 5.4) During 2022, Jerry is a…
A: - To determine Jerry's contribution, determine the maximum contribution limit for SEP plan in 2022.…
At September 1, 2010, Kern Enterprises reported a cash balance of $45,000. During the month, Kern collected cash of $15,000 and made disbursements of $25,000. At September 31, 2010, what is the cash balance?
- $25,000 credit
- $35,000 credit
- $60,000 debit
- $35,000 debit
Unlock instant AI solutions
Tap the button
to generate a solution
Click the button to generate
a solution
- 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 yearBelow is information about Adam Ltd’s cash position for the month of May 2020.1. The general ledger Cash at Bank account had a balance of $42,400 on 30 April.2. The cash receipts journal showed total cash receipts of $585,408 for May.3. The cash payments journal showed total cash payments of $530,148 for May.4. The June bank statement reported a bank balance of $82,368 on 30 May.5. Outstanding cheques at the end of May were: no. 221, $2896; no. 225, $308; and no. 230, $820.6. Cash receipts of $20,180 for 31 May were not included in the May bank statement.7. A dishonoured cheque written by a client Jim Ltd, $2728. A credit for an electronic transfer from a customer of $1,2889. Interest earned, $8810. Account and transaction fees, $240.Required:a) Update the cash receipts and cash payments journals by adding the necessary adjustments and calculate the total cash receipts and cash payments for May.b) Post from cash receipts and cash payments journals to the Cash at Bank ledger account and…Below is information about Adam Ltd’s cash position for the month of May 2020. The general ledger Cash at Bank account had a balance of $42,400 on 30 The cash receipts journal showed total cash receipts of $585,408 for The cash payments journal showed total cash payments of $530,148 for The June bank statement reported a bank balance of $82,368 on 30 Outstanding cheques at the end of May were: 221, $2896; no. 225, $308; and no. 230, $820. Cash receipts of $20,180 for 31 May were not included in the May bank A dishonoured cheque written by a client Jim Ltd, $272 A credit for an electronic transfer from a customer of $1,288 Interest earned, $88 Account and transaction fees, $240. Required: Update the cash receipts and cash payments journals by adding the necessary adjustments and calculate the total cash receipts and cash payments for May. Post from cash receipts and cash payments journals to the Cash at Bank ledger account and balance the account. Prepare a bank reconciliation…
- Below is information about Adam Ltd’s cash position for the month of May 2020. The general ledger Cash at Bank account had a balance of $42,400 on 30 April. The cash receipts journal showed total cash receipts of $585,408 for May. The cash payments journal showed total cash payments of $530,148 for May. The June bank statement reported a bank balance of $82,368 on 30 May. Outstanding cheques at the end of May were: no. 221, $2896; no. 225, $308; and no. 230, $820. Cash receipts of $20,180 for 31 May were not included in the May bank statement. A dishonoured cheque written by a client Jim Ltd, $272 A credit for an electronic transfer from a customer of $1,288 Interest earned, $88 Account and transaction fees, $240. Required: Update the cash receipts and cash payments journals by adding the necessary adjustments and calculate the total cash receipts and cash payments for May.Below is information about Adam Ltd’s cash position for the month of May 2020. The general ledger Cash at Bank account had a balance of $42,400 on 30 April. The cash receipts journal showed total cash receipts of $585,408 for May. The cash payments journal showed total cash payments of $530,148 for May. The June bank statement reported a bank balance of $82,368 on 30 May. Outstanding cheques at the end of May were: no. 221, $2896; no. 225, $308; and no. 230, $820. Cash receipts of $20,180 for 31 May were not included in the May bank statement. A dishonoured cheque written by a client Jim Ltd, $272 A credit for an electronic transfer from a customer of $1,288 Interest earned, $88 Account and transaction fees, $240. Required: Update the cash receipts and cash payments journals by adding the necessary adjustments and calculate the total cash receipts and cash payments for May. (4 marks) Post from cash receipts and cash payments journals to the Cash at Bank ledger account and…Below is information about Adam Ltd’s cash position for the month of May 2020. The general ledger Cash at Bank account had a balance of $42,400 on 30 April. The cash receipts journal showed total cash receipts of $585,408 for May. The cash payments journal showed total cash payments of $530,148 for May. The June bank statement reported a bank balance of $82,368 on 30 May. Outstanding cheques at the end of May were: no. 221, $2896; no. 225, $308; and no. 230, $820. Cash receipts of $20,180 for 31 May were not included in the May bank statement. A dishonoured cheque written by a client Jim Ltd, $272 A credit for an electronic transfer from a customer of $1,288 Interest earned, $88 Account and transaction fees, $240. Required: Update the cash receipts and cash payments journals by adding the necessary adjustments and calculate the total cash receipts and cash payments for May. Post from cash receipts and cash payments journals to the Cash at Bank ledger account and balance the…
- Below is information about Adam Ltd’s cash position for the month of May 2020. The general ledger Cash at Bank account had a balance of $42,400 on 30 April. The cash receipts journal showed total cash receipts of $585,408 for May. The cash payments journal showed total cash payments of $530,148 for May. The June bank statement reported a bank balance of $82,368 on 30 May. Outstanding cheques at the end of May were: no. 221, $2896; no. 225, $308; and no. 230, $820. Cash receipts of $20,180 for 31 May were not included in the May bank statement. A dishonoured cheque written by a client Jim Ltd, $272 A credit for an electronic transfer from a customer of $1,288 Interest earned, $88 Account and transaction fees, $240. Required: Prepare a bank reconciliation statement at 31 May.At January 1, 2017 Eikenberry Inc. had accounts receivable of $72,000. At December 31, 2017, accounts receivable is $54,000. Sales revenue for 2017 is $420,000. Compute Eikenberry's 2017 cash receipts from customers.Pierce Corporation reported a $3,600 balance in accounts receivable on January 1, 2014. During the year, $24,800 of sales on account were made. During the year, Price wrote off accounts receivable of $1,700 as uncollectible. If the ending balance of accounts receivable is $2,000, what is the amount of cash received from customers? Multiple Choice $21,200 $21,500 $28,400 $24,700
- At January 1, 2017, Eikenberry Inc. had accounts receivable of $72,000. At December 31, 2017, accounts receivable is $54,000. Sales revenue for 2017 total $420,000. Compute Eikenberry’s 2017 cash receipts from customers.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. question: use the information to calculate the unknown amount identify either Cash disbursements Cash receipts Payments on account Purchases on account Sales on account Begining balanceStarboy Company has the following data relating to accounts receivable for the year ended December 31, 2022: Accounts receivable, January 1, 2022 P 480,000 Allowance for doubtful accounts, 1/1/22 28,600 Cash sales 300,000Sales on account, terms: 2/10, 1/15, n/30 2,560,000 Cash received from customers during the year 2,400,000 Accounts written off during the year 17,600 Cash refunds given to cash customers for sales returns and allowances 15,000 Credit memoranda issued to credit customers for sales returns and allowances 25,000 The P2,400,000 collection is composed of the following: Collection from customers availing the 10-day discount period: Gross selling price P 1,440,000 Discount taken (1,440,000 x 2%) ( 28,800) P 1,411,200 Collection from customers availing the 15-day discount period: Gross selling price 800,000 Discount taken (800,000 x 1%) ( 8,000) 792,000 Collection from customers paying beyond the discount period: 192,000 Collection of accounts previously written and…