Accounting: Missing Amounts: Various Types of Budgets
Not what you're looking for?
Fill In The Missing Amounts In The Following Schedules:
July August September
1. Sales 240,000 180,000 ?
Cash Receipts
From cash sales ? 102,000 ?
Total cash receipts ? ? ?
2.)Accounts payable 12/31/x0 600,000 Euros
Purchase of goods and services on account during 20x1 2,400,000
payments of accounts payable during 20x1 ?
Accounts payable, 12/31/x1 800,000
3.) Accounts Receivable, 12/31/x0 1,700,000 Yen
Sales on account during 20x1 4,500,000
Collections of accounts receivable during 20x1 3,900,000
Accounts receivable, 12/31/x1 ?
4.)Accumulated depreciation 405,000
Depreciation expense during 20x1 70,000
Accumulated depreciation 12/31/x1 ?
5.)Retained Earnings, 12/31/x0 1,537,500
Net income for 20x1 300,000
Dividends paid in 20x1 -0-
Retained earnings, 12/31/x1 ?
*Half of month's sales are on account. June sales amounted to $180,000. 60% of credit sales is collected in the month of sale; 40% is collected in the following month.
*The Euro is used in most European countries.
*The Yen is the Japanese national currency.
Purchase this Solution
Solution Summary
This solution involved putting missing amounts in budget sheets.
Purchase this Solution
Free BrainMass Quizzes
SWOT
This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.
Situational Leadership
This quiz will help you better understand Situational Leadership and its theories.
Learning Lean
This quiz will help you understand the basic concepts of Lean.
Transformational Leadership
This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.
Basic Social Media Concepts
The quiz will test your knowledge on basic social media concepts.