How much cash was collected from customers

Assignment Help Accounting Basics
Reference no: EM133078167

Question - The following information was available to the accountant of DVC when preparing the monthly bank reconciliation:

Cash balance per bank $3,450

Outstanding cheques 972

NSF cheque returned with the bank statement 58

Deposits in transit 351

Bank service charges 33

Notes receivable from customer, collected by bank 575

Error: cash payment of $532 received from a customer was incorrectly recorded on the books as 523

1. What was the cash balance per books of DVC prior to beginning the bank reconciliation?

A) $2,238.

B) $2,270.

C) $2,336.

D) $2,354.

2. TDI Co. reported revenue of $23,402 million for 2022. Their trade receivables balance was $3,999 million in 2022 and $3,633 million in 2021. How much cash was collected from customers?

A) $23,036

B) $23,306

C) $23,402

D) $23,768

Reference no: EM133078167

Questions Cloud

Projection of financial performance : This segment of your business plan is crucial in securing funding by enhancing your selling effort of your new venture to prospective investors,
Conclusion of argument based on statistics : What is the premise and conclusion of the argument based on statistics? Determine whether or not the argument uses any deceptive statistics.
Critical event analysis essay : What is the Global Financial Crisis (GFC)? What caused it and why did it spread? What impact did the GFC have on the economy in Singapore? Discuss.
OTEC 1016 Supply Chain and Logistics Management Assignment : OTEC 1016 Supply Chain and Logistics Management Assignment Help and Solution, ERC Institute Singapore - Assessment Writing Service
How much cash was collected from customers : Their trade receivables balance was $3,999 million in 2022 and $3,633 million in 2021. How much cash was collected from customers
Explain the concepts of under-utilization of resources : Briefly explain the concepts of under-utilization of resources and economic growth with the help of PPF.
Describe the principal causes of high population growth : "The world population problem is not just a matter of expanding numbers but also one of rising affluence and limited resources. It is as much a problem caused b
What is the chance that an application leads : -You apply for 14 jobs. Each application has a 40% chance of leading to an interview. Every interview has a 60% chance of leading to a job offer. Hint: keep you
Cumulative undiscounted cash flows : The owner of a warehouse/distribution facility wishes to obtain a new first mortgage on the property. The property has been completely leased to a Fortune 500 c

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

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