If the opening balance of borrowings was $330 000, the closing balance was $550 000 and a total of $240 000 was paid off the entity’s borrowings during the period, how much additional cash did the entity borrow during the period?
| Particulars | Amount ($) |
| Closing balance of borrowings | $550000 |
| Add: Borrowings paid off during the year | $240000 |
| Less: Opening balance of borrowings | ($330000) |
| Additional cash borrowings during the year | $460000 |
If the opening balance of borrowings was $330 000, the closing balance was $550 000 and...
For the year ended 31 December 2019, Key Ltd reported opening and closing balances in the Allowance for doubtful debts account of $723 000 and $904 000 respectively. It also reported that write-offs of bad debts amounted to $648 000. Assuming that no previously written-off accounts had been collected, what amount did Key Ltd record as bad debt expense for the period? Select one: O a. $467 000 O b. $829 000 O c. $648 000 O d. $904 000
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need help finding the new borrowings.
Score: 0 of 4 pts 7 of 98.com HW Score: 78.99% E9-30A (similar to) BQ LaChut Health Center provides a variety of medical services. The company is preparing its cash budget for the upcoming third quarter. The following transactions are expected to cour (Click the icon to view the expected transactions) Requirement Prepare a combined cash budget for Lachut Health Center for the third quarter with a column for each month and for...
The opening balance of retained earnings for a company was $1333638. During the year it earned a net income of $504382 and shareholders invested an additional $633517 for shares. The ending balance of retained earnings was $1596480. How much did the company pay out in dividends during the year? Select one: a. $0 O b. $875057 O c. $241540 od. $129135
"Comparative balance sheets show opening and closing cash balances. The statement of changes in equity shows if the owner has contributed more capital or taken drawings. Income statements show incomes received and expenses paid. So the data in the cash flow statement is just a repeat of information reported elsewhere. There is no need for this separate report." Comment. 3 Paragraph - B I
Post closing trial balance - 8 POINTS: CASH 20,000 10,000 15,000 Is this example post closing trial balance correct? (write Yes or No) A/R EQUIPMENT A/P 5,000 10,000 15,000 If not, list or describe the errors in the space below: COMMON STOCK RETAINED EARNINGS DIVIDENDS SERVICE REVENUE RENT EXPENSE 3,000 23,000 5,000 53,000 53,000 CASH VS ACCRUAL - 18 POINTS Determine Net Income under both the cash and accrual methods of accounting based on the following information: * The Company...
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My question is why opening balance of cash of quarter is 74000?
And the interest is times 3 month, or times 2 month?
Williams Company sells women's hats for $12 each. Actual and budgeted sales in units for nine months are as follows: January (actual) February (actual) March (actual) April (budget) May (budget) 25,000 June (budget) ... 50,000 26,000 July (budget) ....... 30,000 40,000 August (budget) .......... 28,000 65,000 September (budget) ...... 25,000 100,000 The company should have...
At the beginning of the period, a company reports a balance in office supplies of $550. During the period, the company purchases an additional $3,700 of office supplies for cash. By the end of the period, only $850 of office supplies remains Record the period-end adjusting entry (if no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the period end adjusting entry. Note: Enter debts...
Activity 13: Green 1. Al 30 September Year : 2. Closing inventory valued at $10 000 3. Wages not yet paid but v ed in the period 1 000 4. On tot Mary the fee for account was paid others were paid for the accountant before for her. The fee was paid for halay May-31 ) 5. The suspense account includes a payment contribution to the business from the owner of the business Green) The bookkeeper did not what to...
4. The Ronna & Pam Partnership has earned $300,00 this year is $150,000. Pam's opening capital balance is interest allowance on their opening capital balance. Also, Ron $65,000, while Pam gets a 'salary allowance of $35 YOU MUST SHOW ALL CALCULATIONS. this year. Ronna's opening capital balance for lance is $75,000. Assume that each partner gets 10% ary allowance' of $35.000. Their profit to loss sharing ratio is 50:50. e. Also, Ronna gets a 'salary allowance' of A: What is...
1. The chart of accounts and post-closing trial balance (April 2017) for Mike Shaw Contractors is shown below. For each account in the post-closing trial balance, enter the balance in the appropriate Balance column of a four-column account. Date the balances May 1, 2017, and place a check mark in the Posting Reference column. Journalize each of the May transactions in a two-column journal starting on Page 5 of the journal and using Mike Shaw's chart of accounts. (Do not...