The information below was taken from the general ledger accounts of Muhria Tran, who uses the accrual

Question:

The information below was taken from the general ledger accounts of Muhria Tran, who uses the accrual basis of accounting.



MUHRIA TRAN




30 June





   2018


   2017




Accounts receivable

Inventory

Prepaid insurance

Accounts payable

Wages payable

Sales

Cost of sales

Expenses (including $47 000 depreciation)


$115 800

48 360

2 200

35 500

3 200

270 000

148 000

88 000



$78 600

52 200

2 700

37 700

4 700













Required

A. Calculate the amount of cash collected from customers during 2018.

B. Calculate the amount of cash paid to suppliers for purchases during 2018.

C. Calculate the amount of cash paid to suppliers of services (including employees) during 2018.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question

Accounting

ISBN: 978-1118608227

9th edition

Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett

Question Posted: