These are the answers to the solution manual:16.P2,322,00017.P1,740,00018.P447,00021.P315,261.50Are they really the correct answers? Please show the computation from 16-18, and 21, please. Thank you! J. The following information is shown in the accounting records of Bonus Inc.,:Dec. 31Jan. 1P 186,000201,000258,000159,000Cash?Accounts receivableMerchandise inventoryAccounts payable273,000234,000144,0009.Total sales and cost of sales for 2013 were P 2,394,000 and P 1,749,000, respectively.All sales and purchases were made on credit. Various operating expenses of P 321,000were paid in cash. Assume that there were no other pertinent transactions. Computefor the...Collections from accounts receivablesPаyтent of aссоиnts payableCash balance on Dec. 31, 201316.17.18. L. Judith Mae Borda Corp. misplaced all the bank statements for the past years.You reviewed the accounting records and discovered that the following journalentries were made to reconcile the June 30, 2012 bank records and accountingrecords.Accounts receivable76,012Miscellaneous expenseNotes receivable62510,000Interest revenue500Cash66,13710Pre-adjustment cash balance in the accounting records was P 371,023.50,outstanding checks were P 10,375 and no other adjustments were required.What is the balance of the cash account per bank statement as ofJune 30, 2012?21.

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J. The following information is shown in the accounting records of Bonus Inc.,: Dec. 31 Jan. 1 P 186,000 201,000 258,000 159,000 Cash ? Accounts receivable Merchandise inventory Accounts payable 273,000 234,000 144,000 9 Total sales and cost of sales for 2013 were P 2,394,000 and P 1,749,000, respectively. All sales and purchases were made on credit. Various operating expenses of P 321,000 were paid in cash. Assume that there were no other pertinent transactions. Compute for the... 16. Collections from accounts receivables Payment of accounts payable Cash balance on Dec. 31, 2013 17. 18.

J. The following information is shown in the accounting records of Bonus Inc.,: Dec. 31 Jan. 1 P 186,000 201,000 258,000 159,000 Cash ? Accounts receivable Merchandise inventory Accounts payable 273,000 234,000 144,000 9 Total sales and cost of sales for 2013 were P 2,394,000 and P 1,749,000, respectively. All sales and purchases were made on credit. Various operating expenses of P 321,000 were paid in cash. Assume that there were no other pertinent transactions. Compute for the... 16. Collections from accounts receivables Payment of accounts payable Cash balance on Dec. 31, 2013 17. 18.

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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