GrawIn 2021, Hope Company Incurred sales on account of $120,000. The company also has the following Information:14DecemberDecember31, 202131, 2020$ 25,500 $ 58,000$ 47,000Accounts ReceivableAccounts Payable$ 70,000eBookWhat Is the amount of cash recelved from customers for Hope Company In 2021?Multiple Choice$102,500$120,000$127,400$152,500Mc< Prev14 of 2P Type here to search99+ The following Information pertalns to Alpha Computing at the end of 2021:13Assets$965,000Liabilities$510,000Net Income$225,000$315,000Common StockeBookAlpha Computing's Retalned Earnings account had a zero balance at the beginning of 2021, What amount of dividends did the company declare In 2021?Multiple Choice$86.000$87,000$88,000$85,000Graw< Prev13 of 25Next >O Type here to search%2399+CF1F2F3F4F5F6F7F8F9团近O O O

Name: GrawIn 2021, Hope Company Incurred sales on account of $120,000. The
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Description: GrawIn 2021, Hope Company Incurred sales on account of $120,000. The company also has the following Information:14DecemberDecember31, 202131, 2020$ 25,500 $ 58,000$ 47,000Accounts ReceivableAccounts Payable$ 70,000eBookWhat Is the amount of cash rec

In the first question the correct answer is D. $152500

Business

Accounting

In 2021, Hope Company Incurred sales on account of $120,000. The company also has the following Information: 14 December December 31, 2021 31, 2020 $ 25,500 $ 58,000 $ 70,000 $ 47,000 Accounts Receivable Accounts Payable eBook What Is the amount of cash recelved from customers for Hope Company In 2021? Multiple Choice $102,500 $120,000 27400וש $152,500

In 2021, Hope Company Incurred sales on account of $120,000. The company also has the following Information: 14 December December 31, 2021 31, 2020 $ 25,500 $ 58,000 $ 70,000 $ 47,000 Accounts Receivable Accounts Payable eBook What Is the amount of cash recelved from customers for Hope Company In 2021? Multiple Choice $102,500 $120,000 27400וש $152,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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(8 Problems 1) On January 1, 2021, Cali Consulting has a $110,000 balance in accounts receivable and a $0 balance in the Allowance for Uncollectible Accounts. During 2021, Cali provides $205,000 of service on account. The company collected $190,000 cash from Accounts Receivable. Uncollectible accounts are estimated to be 3% of sales on account. a. What is the amount of uncollectible accounts expense recognized in 2021? b. What is the amount of cash flows from Operating activities that would appear on the 2021 Cash Flow statement? Show the impact (with amounts) of each of the following items on the horizontal C. Oquation. For the asset section, name the specific accounts impacted. i. Record Sales during the year on account of $205,000. ii. Show the impact of $190,000 cash collected during the year. ii. Establish an Allowance for Uncollectible Accounts at year-end. 3. Study guide - Chapter 5 (with solutions).docx O A 69°F P. f5 f12 6J prt sc I14 &
Use the following excerpts from Algona Company's financial statements and complete the worksheet below to determine cash received from customers in 2018. Dec. 31, 2018 $ 85,000 Dec. 31, 2017 $105,000 From Balance Sheets Accounts Receivable From Income Statement: 2018 Sales 700,000 PLEASE NOTE: You are to follow the format shown in the textbook. Cash Collected from Sales Revenue | Select ] [ Select ) | Select [ Select [ Select ] [ Select ) [ Select ) [ Select [ Select] [ Select ) > > > > > > > >
Cash Receipt #94 Dated April 4, 2022 From Jokers Et Al., cheque #2213 for $950 in full payment of invoice # 287, taking into account 2% sales discount of $50 for early payment. 04-15-2022 J2 1080 1200 94, Jokers Et Al. Bank: Chequing Accounts Receivable 1,000.00 1,000.00 Compare the transaction information and the transaction as captured in Sage and state, what was done wrong and how would you correct it?
Calculate the cash discount and the net amount due the transaction (in $). Amount ofInvoice Terms ofSale CashDiscount NetAmount Due $15,660.00 2/10, n/45 $ $
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Write up two-column cash book from the following details, and balance off as at the end of the month 2022 JUNE 01 Balance Brought forward from last month: Cash $105, Bank $2164 2 Cash sales $605 3 took $ 500 out of the cash till and paid it into the bank 4 J Matthews paid us by cheque $ 217 5 We paid for postage stamps in cash $ 60 6 Bought office equipemtn by cheque $ 72 7 We paid J Lucas by cheque $ 50 9 Received rates refunds by cheques $ 72 11 Withdrew $ 250 from the bank for business use 12 Paid wages in cash $239 14 Paid motor expenses by cheques $ 57 16 L Levy lent us $200 in cash 20 R Norman paid us by cheque $ 112 28 We paid general expenses in cash $ 22 30 Paid insurance by cheque $74.