The information below was taken from the ledger accounts of Bondi Beverage Ltd. Bondi Beverage LTD...
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The information below was taken from the ledger accounts of Bondi Beverage Ltd. Bondi Beverage LTD Sales (on credit) Cost of goods sold Doubtful debts expense Rent expense Salaries expense Other expenses (including $4500 depreciation) Accounts receivable Allowance for doubtful debts Inventory Prepaid rent Accounts payable Salaries payable 2019 $86 500 4 500 42 200 3 700 40 500 6 000 2020 $301 000 132 000 8 600 3 800 39 000 19 500 106 700 9 000 58 360 3 200 34 500 1 500 Required (1) Calculate the amount of cash collected from customers during 2020 by T-account. (2) Calculate the amount of cash paid to suppliers for purchases during 2020 by T-account. (3) Calculate the amount of cash paid to employees during 2020 by T-account. (4) Calculate the amount of cash paid for rent during 2020 by T-account. The information below was taken from the ledger accounts of Bondi Beverage Ltd. Bondi Beverage LTD Sales (on credit) Cost of goods sold Doubtful debts expense Rent expense Salaries expense Other expenses (including $4500 depreciation) Accounts receivable Allowance for doubtful debts Inventory Prepaid rent Accounts payable Salaries payable 2019 $86 500 4 500 42 200 3 700 40 500 6 000 2020 $301 000 132 000 8 600 3 800 39 000 19 500 106 700 9 000 58 360 3 200 34 500 1 500 Required (1) Calculate the amount of cash collected from customers during 2020 by T-account. (2) Calculate the amount of cash paid to suppliers for purchases during 2020 by T-account. (3) Calculate the amount of cash paid to employees during 2020 by T-account. (4) Calculate the amount of cash paid for rent during 2020 by T-account.
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Answer rating: 100% (QA)
1 Cash collected from customers during 2020 Sales on credit 301000 Change in accounts receivable 106... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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