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Question - The information below was taken from the ledger accounts of Deception Bay Ltd.
DECEPTION BAY LTD
2022
2021
Accounts receivable
Allowance for doubtful debts
Inventory
Prepaid rent
Accounts payable
Salary payable
Sales (on credit)
Cost of goods sold
Doubtful debts expense
Rent expense
Salary expense
Other expenses (including $6 300 depreciation)
$93,800
8,300
59,300
2,500
36,200
2,600
251,500
125,000
7,500
5,000
46,000
19,500
$79,000
4,000
39,500
3,500
40,700
4,100
Required -
(1) Calculate the amount of cash collected from customers during 2022 by T-account.
(2) Calculate the amount of cash paid to suppliers for purchases during 2022 by T-account.
(3) Calculate the amount of cash paid to employees during 2022 by T-account.
(4) Calculate the amount of cash paid for rent during 2022 by T-account.
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