Financial Accounting
3rd Edition
ISBN: 9780133791129
Author: Jane L. Reimers
Publisher: Pearson Higher Ed
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Question
Chapter 9, Problem 1MCQ
To determine
Identify the net cash from financing activities.
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Students have asked these similar questions
n
Calculate the following:
a. Determine the cash receipts for April based on the following data:
Cash payments during April
Cash account balance, April 1
Cash account balance, April 30
b. Determine the cash received from customers on account during April based on the following data:
Accounts receivable account balance, April 1
Accounts receivable account balance, April 30
Fees billed to customers during April
%
C
40
$63,000
25,500
31,750
118
hp
$22,500
15,250
45,000
f10
Calculate cash balances based on the information provided in the chart below and show me how you did it
Pro Forma Cash Flow
Cash Received
Cash from Operations
Cash Sales
$24,198
$100,099
$122,460
Cash from Receivables
$46,108
$217,218
$342,905
Subtotal Cash from Operations
$70,306
$317,317
$465,366
Additional Cash Received
Sales Tax, VAT, HST/GST Received
$0
$0
$0
New Current Borrowing
$0
$0
$0
New Other Liabilities (interest-free)
$0
$0
$0
New Long-term Liabilities
$0
$40,000
$0
Sales of Other Current Assets
$0
$0
$0
Sales of Long-term Assets
$0
$0
$0
New Investment Received
$0
$0
$0
Subtotal Cash Received
$70,306
$357,317
$465,366
Expenditures
Year 1
Year 2
Year 3
Expenditures from Operations
Cash Spending
$167,000
$225,200
$229,200
Bill Payments
$75,294
$124,114
$152,785
Subtotal Spent on Operations
$242,294
$349,314
$381,985
Additional Cash Spent
Sales Tax,…
Prepare the summary entries necessary to determine the amount of cash received from customers for each of the four independent situations below.
Situation
Sales revenue
Accounts receivableIncrease (Decrease)
Cash receivedfrom customers
1
$
220,000
$
10,200
?
2
220,000
(10,200
)
?
3
110,000
(15,200
)
?
4
110,000
15,200
?
Chapter 9 Solutions
Financial Accounting
Ch. 9 - Prob. 1YTCh. 9 - Prob. 2YTCh. 9 - Prob. 3YTCh. 9 - Prob. 4YTCh. 9 - Prob. 5YTCh. 9 - Prob. 1QCh. 9 - Prob. 2QCh. 9 - Prob. 3QCh. 9 - Prob. 4QCh. 9 - Prob. 5Q
Ch. 9 - Which types of business transactions would result...Ch. 9 - Prob. 7QCh. 9 - Which types of business transactions would result...Ch. 9 - Prob. 9QCh. 9 - Prob. 10QCh. 9 - Prob. 11QCh. 9 - Prob. 12QCh. 9 - Prob. 13QCh. 9 - Prob. 14QCh. 9 - Prob. 15QCh. 9 - Prob. 16QCh. 9 - Prob. 1MCQCh. 9 - Prob. 2MCQCh. 9 - Prob. 3MCQCh. 9 - Prob. 4MCQCh. 9 - Prob. 5MCQCh. 9 - Prob. 6MCQCh. 9 - Depreciation for the year was 50,000 and net...Ch. 9 - Accounts receivable decreased by 12,000....Ch. 9 - Prob. 9MCQCh. 9 - Prob. 10MCQCh. 9 - Prob. 1SEACh. 9 - Prob. 2SEACh. 9 - Calculate and identify cash flows. (LO 3, 6). A...Ch. 9 - Prob. 4SEACh. 9 - Prob. 5SEACh. 9 - Prob. 6SEACh. 9 - Prob. 7SEACh. 9 - Prob. 8SEACh. 9 - Prob. 9SEACh. 9 - Prob. 10SEBCh. 9 - Prob. 11SEBCh. 9 - Prob. 12SEBCh. 9 - Prob. 13SEBCh. 9 - Prob. 14SEBCh. 9 - Prob. 15SEBCh. 9 - Prob. 16SEBCh. 9 - Evaluate adjustments to net income under the...Ch. 9 - Prob. 18SEBCh. 9 - Prob. 19EACh. 9 - Prob. 20EACh. 9 - Prob. 21EACh. 9 - Prob. 22EACh. 9 - Prob. 23EACh. 9 - Prob. 24EACh. 9 - Prob. 25EACh. 9 - Prob. 26EACh. 9 - Prob. 27EACh. 9 - Prob. 28EACh. 9 - Prob. 29EACh. 9 - Calculate cash from operating activities using the...Ch. 9 - Prob. 31EACh. 9 - Prob. 32EACh. 9 - Prob. 33EACh. 9 - Prob. 34EBCh. 9 - Prob. 35EBCh. 9 - Prob. 36EBCh. 9 - Prob. 37EBCh. 9 - Prob. 38EBCh. 9 - Prob. 39EBCh. 9 - Prob. 40EBCh. 9 - Prob. 41EBCh. 9 - Prob. 42EBCh. 9 - Prob. 43EBCh. 9 - Prob. 44EBCh. 9 - Prob. 45EBCh. 9 - Prob. 46EBCh. 9 - Prob. 47EBCh. 9 - Prob. 48EBCh. 9 - Prob. 49PACh. 9 - Prob. 50PACh. 9 - Prob. 51PACh. 9 - Prob. 52PACh. 9 - Prob. 53PACh. 9 - Prob. 54PACh. 9 - Prob. 55PACh. 9 - Prob. 56PACh. 9 - Prob. 57PBCh. 9 - Prob. 58PBCh. 9 - Prob. 59PBCh. 9 - Prob. 60PBCh. 9 - Prob. 61PBCh. 9 - Prob. 62PBCh. 9 - Prob. 63PBCh. 9 - Prob. 64PBCh. 9 - Prob. 1FSACh. 9 - Prob. 2FSACh. 9 - Prob. 3FSACh. 9 - Prob. 1CTPCh. 9 - Prob. 2IE
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- To demonstrate the difference between cash account activity and accrual basis profits (net income), note the amount each transaction affects cash and the amount each transaction affects net income. A. issued stock for cash $20,000 B. purchased supplies inventory on account $1,800 C. paid employee salaries; assume it was current days expenses $950 D. paid note payment to bank (principal only) $1,200 E. collected balance on accounts receivable $4,750arrow_forwardSmoltz Company reported the following information for the current year: cost of goods sold, $252,500; increase in inventory, $21,700; and increase in accounts payable, $12,200. What is the amount of cash paid to suppliers that Smoltz would report on its statement of cash flows under the direct method? a. $218,600 c. $262,000 b. $243,000 d. $286,400arrow_forwardThe financial statements for Romeo and Company follow. Assume that the additional investment and the withdrawals were in the form of cash. Required Prepare a statement of cash flows for the year ended December 31, 2018. Check Figure Net cash flows from operating activities, 172,000arrow_forward
- Use the image for the following question: Q1. Honesty & Co. What is the adjusted cash amount of cash receipts during OctoberA. 760,650B. 772,150C. 779,650D. 789,650 Q2. Honesty & Co. What is the adjusted amount of disbursements per bank during October? A. 624,700B. 605,700C. 633,200D. 615,700 Q3. Honesty & Co. What is the adjusted cash balance as of September 30, 2021? A. 3,000B. 2,500C. None of the optionsD. 2,000 Q4. Honesty & Co. What is the unadjusted amount of cash receipts per bank during October? A. 789,650B. None of the optionsC. 780,450D. 790,450 Q5. Honesty & Co. What is the unadjusted amount of cash disbursements per book during October? A. None of the optionsB. 640,300C. 630,300D. 633,200arrow_forwardOn the schedule of collection from sales what are the percentage calculations for cash collected from prior months sales? Note A Calculations for cash collected and percentages from current months sales Note Barrow_forwardCalculate the following: (a) Determine the cash receipts for May based on the following data: Cash payments during May $44,360 Cash account balance, May 1 4,090 Cash account balance, May 30 8,740 $________ fill in the blank (b) Determine the cash received from customers on account during May based on the following data: Accounts receivable account balance, May 1 $13,680 Accounts receivable account balance, May 30 7,900 Fees billed to customers during May 28,260 $_______fill in the blankarrow_forward
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