Use the information in each of the following separate cases to calculate the unknown amount. a....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
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. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Required C 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. Accounts Payable Payments on account $ 308,000 Purchases on account Beginning balance $ 286,000 157,000 Ending balance Required A $ 135,000 Required B > 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. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Required C 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. Accounts Payable Payments on account $ 308,000 Purchases on account Beginning balance $ 286,000 157,000 Ending balance Required A $ 135,000 Required B >
Expert Answer:
Answer rating: 100% (QA)
a Corentine Company had 157000 of accounts payable on September 30 and 135000 ... View the full answer
Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Posted Date:
Students also viewed these finance questions
-
How can organizations create new managerial strategies and policies to control Resilience? Explain.
-
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...
-
Methanol, CH3OH, is prepared industrially from the gasphase catalytic balanced reaction that has been depicted here using molecular models. In a laboratory test, a reaction vessel was filled with...
-
American child death rates (per 100,000 children ages 514 years) are shown in Table 11 for various years. Let C = f (t) be the U.S. child death rate (per100,000 children) at t years since 1980. a....
-
Hull Company's record of transactions concerning part X for the month of April was as follows. Instructions: a. Calculate the inventory at April 30 on each of the following bases. Assume that...
-
Explain the various methods of conflict resolution that can be used in rule-based expert systems. For each of these, give an example of a scenario where using it would not give the correct result.
-
The stockholders' equity accounts of Cyrus Corporation on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 5,000 shares authorized) .........$ 300,000 Common Stock ($4...
-
What challenges and opportunities does neurodiversity present in workplace settings, and how can organizations create environments that are inclusive of individuals with different neurocognitive...
-
Firm E must choose between two business opportunities. Opportunity 1 will generate an $8,000 deductible loss in year 0, $5,000 taxable income in year 1, and $20,000 taxable income in year 2....
-
The following are the transactions of Spotlighter, Incorporated, for the month of January. a. Borrowed $3,940 from a local bank on a note due in six months. b. Received $4,630 cash from investors and...
-
Owen's Electronics has nine operating plants in seven southwestern states. Sales for last year were $100 million, and the balance sheet at year-end is similar in percentage of sales to that of...
-
4. COVID-19 is wreaking havoc around the world for the last couple of years. According to WHO, there have been around 350 million cases, including 5.6 million deaths worldwide. Rizwan became very...
-
Consider the following C function. int fun(){ if(n
-
Beginning inventory Merchandise Finished goods Cost of merchandise purchased Cost of goods manufactured Ending inventory Merchandise Finished goods Unimart Bare Manufacturing $ 316,000 $ 632,000...
-
Dante and Marsilio of Padua come to visit you today. What would you tell each about his legacy to modern politics and to you as a student.
-
Show, if u(x, y) and v(x, y) are harmonic functions, that u + v must be a harmonic function but that uv need not be a harmonic function. Is e"e" a harmonic function?
-
A process has streams to be heated and cooled above its pinch temperatures as illustrated in Figure 11.62. Complete a design that satisfies MER targets with the minimum number of heat exchangers....
-
Consider the network of heat exchangers in Figure 11.60: (a) Determine \(N_{H X, \text { min }}\). (b) Identify the heat loop. (c) Show one way to break the heat loop using \(\Delta T_{\min...
-
To exchange heat between four streams with \(\Delta T_{\text {min }}=20^{\circ} \mathrm{C}\), the HEN in Figure 11.61 is proposed. Determine whether the network has the minimum utility requirements....
Database Management With Website Development Applications 1st Edition - ISBN: 0201743876 - Free Book
Study smarter with the SolutionInn App