What the estimated cash balance at december is

Assignment Help Accounting Basics
Reference no: EM132831187

Holland Ltd provided these estimates for the six months ending 31 December.

Cash receipts from services provided $60 000

Cash payments for expenses 40 000

Payment for purchase of equipment 18 500

Depreciation of equipment 4 000

Borrowings from the bank 15 000

Rent paid in advance 3 000

The cash balance at 1 July is $13 000.

Problem 1: The estimated cash balance at 31 December is:

a. deficit of $15 000

b. surplus of $13 500

c. surplus of $11 000

d. surplus of $26 500

e. surplus of $33 000

Reference no: EM132831187

Questions Cloud

Write summary of the chosen culture including short history : In this project, you will create an informative website featuring the traditional music of a specific non-Western culture. (Note that the term "world music" in)
Prepare paper on stakeholder meeting simulation : Prepare paper on Strategic Management - Stakeholder Meeting Simulation
Prepare the may entry to establish the fund : Prepare the May 2 entry to establish the fund, May 30 entry to reimburse the fund [Hint: Credit Cash Over and Short for $5 and credit Cash]
Discuss shift in the internet in terms of constructivism : From the article in this week's reading, "Web 1.0 was characterized by the existence of passive web-sites and applications providing information.
What the estimated cash balance at december is : What the estimated cash balance at 31 December is? Payment for purchase of equipment 18 500. Cash receipts from services provided $60 000
What is the fundamental accounting equation : What three entity forms were broadly identified in the textbook? How does the entity form influence the reporting of assets, liabilities, and equity
Explain why you did or did not enjoy the concerts : Explain why you did or did not enjoy the concerts. Evaluate similarities and differences between music in the Classical era and modern times.
Determine transfer price using general transfer pricing rule : The Industry Division's standard variable production cost per unit is $500. Determine a transfer price using the general transfer pricing rule.
How specific learning disabilities manifest themselves : For this task, you will develop a PowerPoint presentation that could be used with a teaching staff to make them aware of the research-based causes of specific.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the value today of receiving a single payment

What is value today of receiving a single payment of $27,492 in 15 years if your required rate of return on this investment is 03.00% compounded semi-annually

  Calculate the capital expenditure claimable

The company expected the profit to be $280,000 and $350,000 for the next two years. Calculate the capital expenditure claimable for YA 2015

  Preparing a statement of cash flows

Prepare a statement of cash flows (indirect method)for walker corportion for 2010. The 2010 and 2009 balanccer sheets of walker corporation follow. the 2010 income statement is also provided.

  What is the amount of depreciation for the second year

What is the amount of depreciation for the second year, during which the machine was used 5,000 hours

  How much are the carrying amounts of the interest receivable

On January 1, 20x1, ABC Co. acquired 10%, $100,000 bonds for $94,738. How much are the carrying amounts of the interest receivable on December

  Calculate amount of interest that Mason should capitalize

The loan was outstanding all of 2018 and 2019. Calculate the amount of interest that Mason should capitalize in 2018 and 2019 using the specific interest method

  Which of the above activities might be reduced or

a corporation is considering implementation of a jit inventory system. the companys industrial engineer recently

  Prepare a multiple-step income statement

Prepare a multiple-step income statement showing expenses by function. Assume that 100,000 common shares were outstanding during the year

  What are Ross budgeted collections for July

The June 30th balance sheet balance in its accounts receivable is $450,000, What are Ross budgeted collections for July

  Calculate the non-value-added cost per unit

Calculate the target cost for maintaining current market share and profitability. Calculate the non-value-added cost per unit

  Calculate the depreciation expense

Estimated useful life of the equipment is 8 years; and 110,000 units of production; Calculate the depreciation expense

  How many widgets should jj produce in jan

JJ Company expects to sell the widgets for forty-five dollars each. How many widgets should JJ produce in Jan

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