Forest Company had the following transactions during the month of December. What is the December 31 cash
Question:
Forest Company had the following transactions during the month of December. What is the December 31 cash balance?
Transcribed Image Text:
Cash sales Payments for inventory Investments by owners Supplies used Cash withdrawals Inventory received Wages paid Cash balance Dec. 1 $3,250 1,760 3,000 175 260 2,500 2,390 4,250
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (4 reviews)
EA7 Cash balance Dec 1 4250 Add Cash ...View the full answer
Answered By
Marvine mabiya
i am a graduate of kirinyaga university degree of statistics
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Question Posted:
Students also viewed these Business questions
-
Explain the process of closing the books and describe the content and purpose of a post-closing trial balance
-
Wascana Ltd. is a small wholesaler of restaurant supplies. The company's post-closing trial balance at December 31, 2017, the end of its fiscal year, is presented below: The company had the following...
-
The Tusquittee Company is a retail company that began operations on October 1, 2018, when it incorporated in the state of North Carolina. The Tusquittee Company is authorized to issue 100,000 shares...
-
Linda has d dollars in an account that pays 1.4% interest, compounded weekly. She withdraws w dollars. Express her first weeks interest algebraically.
-
How does the empirical analysis of automobile demand presented in this chapter illustrate the fact that not only do consumers consider the monetary price of purchasing an automobile, but also they...
-
A buyer at a sporting goods store in Denver receives a shipment of 400 ski parkas on October 1 and expects to sell out by 31. On November 1, the buyer still has 350 parkas left. What issues should...
-
The wreck of the S.S. Central America waited 130 years at the bottom of the ocean for someone to come along and claim its trove of gold. Thomas G. Thompson, funded by a multitude of investors, was...
-
Joe Henderson runs a small metal parts shop. The shop contains three machines-a drill press, a lathe, and a grinder. Joe has three operators, each certified to work on all three machines. However,...
-
Executives at Southwestern Construction have noticed that the company's construction team in the Phoenix office is more efficient with its resources than the other teams in the Las Vegas, Salt Lake,...
-
Name the following alcohols according to the IUPAC nomenclature system. Indicate stereochemistry (if any) and label the hydroxy groups as primary, secondary, or tertiary. OH Br OH (a) CH;CH,CHCH; (b)...
-
Name the three types of legal business structure. Describe one advantage and one disadvantage of each.
-
Here are facts for Haileys Collision Service for January. Assuming no investments or withdrawals, what is the ending balance in the owners capital account? Hailey Shusher, Capital Jan. 1 Jan. revenue...
-
According to the passage, H fus of water: A. Is less than H fus of calcium. B. Is greater than H fus of calcium. C. Is greater than H fus of nickel. D. Cannot be determined.
-
In a team of 2 students, you are appointed as management accountant for an Australian business and you are required to prepare a report on to evaluate the performance of the company so that you can...
-
Which is the 5th riskiest asset based on the information below? Average return S&P 500 Standard deviation: 2.55% Small Stocks 15.65% Variance: 0.10179 0.50460 31.90% 71.03% Corp World Bonds Portfolio...
-
Suppose that you own 100 shares of XYZ Corp. The firm pays a quarterly dividend of $1.65 per share. If you are in a 31% income tax bracket, how much tax will you owe on your annual dividend income?...
-
Consider the following two assets and their potential returns: State Of Economy Probability Asset A Asset B 0.1 2% -4% 0.3 11% 15% 0.4 17% 0.2 25% Depression Recession Normal Boom The variance of...
-
Discuss 3 effect that cause based in the article. 2. Provide 3 or more recommendation for solving the issues based on the article TEXT 3: The compilation of SUA encompasses the selected agricultural...
-
Show that b[0, l] = b[0, 2].
-
In your audit of Garza Company, you find that a physical inventory on December 31, 2012, showed merchandise with a cost of $441,000 was on hand at that date. You also discover the following items...
-
The Certified Management Accountant (CMA) certification: A. Signifies someone specializing in tax accounting B. Requires an associates degree and four years of work experience C. Includes a two-part...
-
According to the information on management accounting available at http://www.accounting.com/ careers/, what are some areas of specialization?
-
The Certified Financial Analyst (CFA) certification: A. Only requires a high school diploma B. Is administered by the AICPA C. Consists of three separate exams that must be taken in succession D. Is...
-
Michonne has invested in bonds issued by Alpha Beta Inc., while Rick owns their preferred shares and Carl owns their common shares. In the event of liquidation or dissolution of Alpha Beta Inc., who...
-
Acquired $22,000 cash by issuing common stock. Provided services to his customers on account in the amount $27,500. Paid cash for $3,500 in office expenses. Collected $11,000 of the revenue that was...
-
What environmental law, regulation or policy do you think needs changing and specifically what would you change?
Study smarter with the SolutionInn App