Calculate the unknown amount required in each of the following five independent situations. The answer to situation (a) is given as an illustration:

Required

Total cash received

Total cash collected from credit customers

Notes payable repaid during the period

Good and services received from suppliers on account

Net income, assuming that no dividends were paid

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Account a. b. C. d. e. Beginning Balance Cash Accounts Receivable Notes Payable Accounts Payable Stockholders' Equity Ending Balance $8,600 11,000 17,500 5,780 34,500 Other Information $5,250 9,300 20,000 1,720 46,000 Total cash disbursed, $5,400. Services on account, $16,500. Borrowed funds by issuing note, $30,000. Payments on account, $4,900. Capital Contribution, $5,000. Account a. b. C. d. e. Beginning Balance Cash Accounts Receivable Notes Payable Accounts Payable Stockholders' Equity Ending Balance $8,600 11,000 17,500 5,780 34,500 Other Information $5,250 9,300 20,000 1,720 46,000 Total cash disbursed, $5,400. Services on account, $16,500. Borrowed funds by issuing note, $30,000. Payments on account, $4,900. Capital Contribution, $5,000.

Answer rating: 100% (QA)

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