Depreciation charges are the attention to the Accumulated Depreciation account, which is a noncash equity sheet account. Depreciation is combined to that account in order to adjust net income for all of the charges in the noncash equity sheet account appeared in the period.
Answer:
During the period was collected $1.150
Explanation:
To calculate the total amount collected must be considered the initial balance of the Accounts Receivable then add the goods sold on account and finally must be deducted the final balance of the Accounts Receivable, that difference is the total amount collected in the period by the company.
Please see details bellow:
$380 Initial account balance
$1400 goods sold
($1.150) Collected Amount
$630 ending balance
Your answer is
<span>B. an invoice</span>
Answer:
Explanation:
Outstanding number of days is the period over which the loan balance remains unpaid. Since this loan earns 5% interest, required adjusting entry for this company would be to Debit<em> interest expense</em> <em>account</em> and Credit the interest <em>payable account. </em>It is an accounting requirement that all expenses be debited . On the other hand, interest payable is the amount that a company owes a lender and is therefore credited as the corresponding journal entry to the interest expense .
Answer:
$56,000
Explanation:
Given the above information, we will calculate first the total cash flow.
Total cash flow = Opening cash receivable + Sales - Ending cash receivables
= $196,000 + $880,000 - $226,000
= $850,000
Ending cash balance = Opening cash balance + Total cash flow - Cash disbursement
= $146,000 + $850,000 - $940,000
= $56,000
