User Account

All Pages

Determine what is the cash balance on december

Assignment Help Accounting Basics
Reference no: EM132621287

The following information is shown in the accounting records of SAPNO PUAS Company:

                                               January 1                       December 31

Cash                                 P186,000

Accounts Receivable                201,000                           273,000

Merchandise Inventory                258,000                         234,000

Accounts Payable                          159,000                      144,000

Total sales and cost of goods sold for 2017 were P2,394,000 and P1,749,000, respectively. All sales and purchases were made on credit. Various operating expenses of P321,000 were paid in cash. Assume that there were no other pertinent transactions.

Problem 1: What is the cash balance on December 31, 2017?

Reference no: EM132621287

Questions Cloud

How 10-k interprets the firms financial strength : 10-K Ford Motor Company: Review Ford Motor Company's Form 10-K for 2012. Explain the purpose of a company's 10-K and how it interprets the firm's financial.
How a recombinant blood product can be prepared : How a recombinant blood product can be prepared?
Compute the April inventory : Crane Company uses a periodic inventory system. Compute the April 30 inventory and the April cost of goods sold using the LIFO method
Important limitation of a correlational study : What is the important limitation of a correlational study?
Determine what is the cash balance on december : What is the cash balance on December 31, 2017? Total sales and cost of goods sold for 2017 were P2,394,000 and P1,749,000, respectively.
Person-centred practice and a strengths-based practice : Explain the difference between a person-centred practice and a strengths-based practice.
How can an organization be strategic with the people : How can an organization be strategic with their most important resource - their people? Explain your answer. You must use at least two scholarly sources.
Charismatic leader and transformational leader : Describe someone who you consider a charismatic leader and someone that is a transformational leader? What is this person like?
Explain the process of translocation in pharmacology : Explain the process of translocation in pharmacology?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the number of weighted-average shares

Use this information to determine the number of weighted-average shares of common stock outstanding for the 2017 fiscal year

  What is the effect on the accounting equation

What is the effect on the accounting equation when the business receives cash from an account receivable

  Evidence of an association between speed and cost

Printers. In March 2002, Consumer Reports reviewed several models of inkjet printers. The following table shows the speed of the printer (in pages per minute) and the cost per page printed. Is there evidence of an association between Speed and Cos..

  Prepare the necessary journal entry of the transactions

Prepare the necessary journal entry of the transactions assuming the company uses (1) Perpetual Inventory System and (2) Periodic Inventory System

  Purpose and importance of audit reports

Examine the purpose and importance of audit reports. Determine the stakeholders impacted by audit reports. Analyze the impact of audit reports for each category of stakeholders.

  Compute the standard cost of one unit of product

Compute the standard cost of one unit of product, Compute the budgeted amounts for 2017 for direct materials to be used

  The inventory of faber company was destroyed by fire on

the inventory of faber company was destroyed by fire on march 1. from an examination of the accounting records the

  Determine which required procedures the auditor must perform

Determine and understanding the client is required when conducting an audit. Which of the required procedures the auditor must perform?

  A real estate company fails to accrue commission revenue

If a real estate company fails to accrue commission revenue.(a).liabilities are overstated, and owner's equity is understated.(b). Assets are understated, and net income is understated. (c). Net income is understated, and stockholders' equity ..

  What is the pretax cost of debt

What is the pretax cost of debt? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

  West star company manufactures and sells computer monitors

west star company manufactures and sells computer monitors at 200 each. the following is the cost information for the

  What controls should be in place to consistent application

Each method has its advantages and disadvantages. What controls should be in place to ensure consistent application

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd