Determine the fees billed to customers on account

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Reference no: EM132068898

1) A. During February, $186,190 was paid to creditors on account, and purchases on account were $203,310. Assuming the February 28 balance of Accounts Payable was $57,610, determine the account balance on February 1.

B. On October 1, the accounts receivable account balance was $116,330. During October, $446,430 was collected from customers on account. Assuming the October 31 balance was $130,700 determine the fees billed to customers on account during October.

C. On April 1, the cash account balance was $45,700. During April, cash receipts totaled $247,220 and the April 30 balance was $56,790. Determine the cash payments made during April.

2. A. During the month, Warwick Co. received $515,000 in cash and paid out $375,000 in cash.. If the balance of the cash account is $200,000 at the end of the month, what was the cash balance at the beginning of the month?

b. During the month, Warwick Co. received $512,000 in cash and paid out $370,000 in cash.If the balance of the cash account is $212,000 at the end of the month, what was the cash balance at the beginning of the month?

3. A. During February, $186,500 was paid to creditors on account, and purchases on account were $201,400. Assuming the February 28 balance of Accounts Payable was $59,900, determine the account balance on February 1.

B. On October 1, the accounts receivable account balance was $115,800. During October, $449,600 was collected from customers on account. Assuming the October 31 balance was $130,770 determine the fees billed to customers on account during October.

C. On April 1, the cash account balance was $46,220. During April, cash receipts totaled $248,600 and the April 30 balance was $56,770. Determine the cash payments made during April.

4. A. During February, $186,190 was paid to creditors on account, and purchases on account were $203,310. Assuming the February 28 balance of Accounts Payable was $57,610, determine the account balance on February 1.

C. On April 1, the cash account balance was $45,700. During April, cash receipts totaled $247,220 and the April 30 balance was $56,790. Determine the cash payments made during April.

5. A. As of January 1, Terrace Waters, Capital, had a credit balance of $314,000. During the year, withdrawals totaled $10,000, and the business incurred a net loss of $320,000. Compute the balance of Terrace Waters, Capital, as of the end of the year.

Debit (negative) balance of $_______ ?

B. As of January 1, Brenda Cikan, Capital, had a credit balance of $47,700. During the year, withdrawals totaled $1,300, and the business incurred a net loss of $66,800. Compute the balance of Brenda Cikan, Capital, as of the end of the year.

Debit (negative) balance $_______ ?

PLEASE ANSWER ALL QUESTIONS

Reference no: EM132068898

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