Homework Answers
Solution
| a. | Total cash received | $ 3,650.00 |
| b. | Total cash collected from customers | $ 18,200.00 |
| c. | Notes payable repaid during the period | $ 24,500.00 |
| d. | Good and services received from suppliers on account | $ 3,120.00 |
| e. | Net Income, assuming that no dividends are paid | $ 10,000.00 |
.Working
| a. | Total cash received | 3650 |
| b. | Total cash collected from customers | =16500+11000-9300 |
| c. | Notes payable repaid during the period | =17500+30000-23000 |
| d. | Good and services received from suppliers on account | =3900-2500+1720 |
| e. | Net Income, assuming that no dividends are paid | =46000-7000-29000 |
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