2 questions

profileetenal

Cash

$ 80,000

Accounts payable

$ 75,000

Accounts receivable (net)

52,200

Long-term liabilities

100,000

Inventories

57,000

Stockholders' equity

218,500

Investments

76,300

 

 

Equipment (net)

96,000

 

 

Patents

 

 

 

 

$393,500

 

$393,500

(a) accounts receivable debit balances $60,000;
(b) accounts receivable 0; and
(c) allowance for doubtful accounts $3,800.
Question 6.

Balance per bank

$26,746

 

Add: Deposits in transit

2,100

 

Deduct: Outstanding checks

(3,800)

 

Balance per books

$25,046

 

Month of April Results

Per Bank

Per Book

Balance April 30

$27,995

$24,355

April deposits

8,864

14,889

April checks

12,200

16,080

April note collected

3,000

-0-

(not included in April deposits)

 

 

April bank service charge

35

-0-

April NSF check of a customer

900

-0-

returned by the bank

 

 

(recorded by bank as a charge)

 

 

 
 
 
    • 9 years ago
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