Wilkes Company had the following transactions during the current year: Earned revenues of $100,000 and incurred
Question:
• Earned revenues of $100,000 and incurred expenses of $56,000, all in cash.
• Purchased a truck for $25,000.
• Sold land for $10,000.
• Borrowed $15,000 from a local bank.
What was the total change in cash during the year?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 33% (12 reviews)
Increases in cash Revenues 100000 S...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-1259692406
18th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
Question Posted:
Students also viewed these Managerial Accounting questions
-
Xavier Company had the following transactions during the current year: Earned revenues of $100,000 and incurred expenses of $56,000, all in cash. Purchased a truck for $20,000. Sold land for...
-
Patton Services Company had the following transactions during the month of June:June 2. Issued Invoice No. 201 to Thomas Corp. for services rendered on account, $290.3. Issued Invoice No. 202 to Mid...
-
Shield Security Company had the following transactions during the month of November: Nov. 4. Purchased office supplies from Office Universe Inc. on account, $480. 8. Purchased office equipment on...
-
How do recruitment and selection practices contribute to high performance in an organization?
-
1. Internal service funds are reported: a. With governmental funds on the fund financial statements b. With governmental funds on the government-wide statement of net assets c. With proprietary funds...
-
Determine the admittance Y for the circuit in Fig. 9.44. 4 2 j8 2 -j102
-
How have the political and economic agreements between countries impacted the way companies moved products, offered services, or exchanged money since World War I?
-
Assume that a bond will make payments every six months as shown on the following timeline (using six-month periods): a. What is the maturity of the bond (in years)? b. What is the coupon rate (in...
-
3. (a) (b) Write a program whose input is an array A and a number x. The program should print the number of occurrences of x in A. You may not use recursion for this particular task. Write a...
-
The ANOVA from a randomized complete block experiment output is shown below. (a) Fill in the blanks. You may give bounds on the P-value. (b) How many blocks were used in this experiment? (c) What...
-
You recently invested $18,000 of your savings in a security issued by a large company. The security agreement pays you 6 percent per year and has a maturity three years from the day you purchased it....
-
During the month of October, current year, Weller Company had the following transactions. 1. Revenues of $14,400 were earned and received in cash. 2. Bank loans of $3,600 were paid off. 3. Equipment...
-
Describe three different strategies an e-retailer might develop when creating an online presence.
-
Jessica was provided with a motor vehicle which cost her employer $77,000 (inclusive of GST and luxury car tax) on 1 April 2021. Jessica travelled 22,000 kilo meters during the 2020-2021 FBT year, of...
-
Why is the Australian tax system more progressive than most OECD countries, for example, Denmark & Sweden?
-
How can winning a poker tournament at a casino be described as a business income vs it not be counted as any form of income?
-
A resident citizen reported the following for the year 2020: Net sales 8,000,000 Cost of sales 3,000,000 Salaries of employees, net of 100,000 withholding tax and 50,000 SSS, Medicare and Pag-ibig...
-
Smile Company is a domestic company engaged in manufacturing heavy machinery. Smile needs to order some specialty equipment from Churchill Company, a U.K. company which uses Libor as its functional...
-
Why is it that bank executives today may not want their banks to hold sufficient levels of bank capital, even if doing so would make their banks more stable?
-
In Exercises 1558, find each product. (9 - 5x) 2
-
What is the meaning of the term revenue? Does the receipt of cash by a business indicate that revenue has been earned? Explain.
-
What is the meaning of the term revenue? Does the receipt of cash by a business indicate that revenue has been earned? Explain.
-
What is the meaning of the term expenses? Does the payment of cash by a business indicate that an expense has been incurred? Explain.
-
3. Draw the logic diagram of the SOP minimized circuit 4. Use De Morgan's theorems to express the simplest SOP in terms of NAND operators. 5. Use the Karnaugh map method to find the simplest...
-
1. Consider the modification of the master-slave latch pair given in Fig. 1. a) Under a regularly changing clock CK, specify the sequence y1, 92, 93, 94 of output signals appearing at Q at the end of...
-
3.99 Write ARM assembly code to implement the following C statements, assuming all variables are 32-bit integers and a declaration of x[10], y[10]: for i=0; i < 10; i++) x[i] = 10 -1; v[9 - i] = 1;
Study smarter with the SolutionInn App