What is balance of accounts receivable for whitewater rental

Assignment Help Managerial Accounting
Reference no: EM132502882

Required information On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business.

The following transactions occurred in the month of September and affected the following accounts:

Cash                                           Accounts Payable
Accounts Receivable                    Shawn Dahl, Capital
Office Equipment Revenue           Canoe and Kayak Equipment Expenses

Transactions

1. Shawn Dahl invested $44,400 in cash to open the business

2. Paid $12,100 in cash for the purchase of kayak and canoe equipment

3. Paid $1,850 in cash for rent expense

4. Purchased additional kayak and canoe equipment for $4,600 on credit

5. Received $4,700 in cash for kayak rentals

6. Rented canoes and kayaks for $2,000 on account

7. Purchased office equipment for $205 in cash

8. Received $1,200 in cash from credit clients

9. Shawn Dahl withdrew $2,300 in cash for personal expenses

Question 1: Based on the information shown above, what is the balance of Accounts Receivable for Whitewater Rentals at the end of September?

Reference no: EM132502882

Questions Cloud

What is Dairy Days contribution margin per ice cream cone : Variable costs are $2 per cone. Fixed costs are $2,900 per month. What is Dairy Days' contribution margin per ice cream cone
What selling price per unit should the company quote : The company targets a profit of $4,000 on the bulk order. What selling price per unit should the company quote for the bulk order
Review options available for managing foreign currency : Review the options available for managing this foreign currency liability. And is there any reason to prefer one course of action over another for the following
Consumers prefer the supermarket : Supporters of the plan argue in turn that this will only happen if consumers prefer the supermarket. Which side are you on?
What is balance of accounts receivable for whitewater rental : Based on the information shown above, what is the balance of Accounts Receivable for Whitewater Rentals at the end of September?
Prepare journal entries that Smart Solutions Inc record : Prepare the journal entries that Smart Solutions Inc. would record for the above transactions. Dec. 31 Accrued interest on the note
Label the point of profit maximization : Now let's say Sarah's fishery faces the following revenues and costs. Market price is $25, to maximize profit she farms 200 fish a week. At the profit maximizin
Production of computers and fax machines : If Country M opens trade with a country with identical tastes, what will happen in the short run to:
Calculate the current and long-term liabilities : Payment will be made over four years in four equal annual installments. Calculate the current and long-term liabilities as at December

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

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