Ask Question
BusinessBusiness
12 December, 05:16

g Corentine Co. had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total purchases on account during October were $281,000. Determine how much cash was paid on accounts payable during October. On September 30, Valerian Co. had a $102,500 balance in Accounts Receivable. During October, the company collected $102,890 from its credit customers. The October 31 balance in Accounts Receivable was $89,000. Determine the amount of sales on account that occurred in October. During October, Alameda Company had $102,500 of cash receipts and $103,150 of cash disbursements. The October 31 Cash balance was $18,600. Determine how much cash the company had at the close of business on September 30.

+5
Answers (1)
  1. 12 December, 05:59
    0
    1. $300,500

    2. $89,390

    3. $19,250

    Explanation:

    1. The computation of the cash paid is shown below:

    = Opening balance of accounts payable + purchase made - ending balance of accounts payable

    = $152,000 + $281,000 - $132,500

    = $300,500

    2. The computation of the sales is shown below:

    = Ending balance of accounts receivable + cash receipts - opening balance of accounts receivable

    = $89,000 + $102,890 - $102,500

    = $89,390

    3. The computation of opening cash balance is shown below:

    = Cash disbursements + ending cash balance - cash receipts

    = $103,150 + $18,600 - $102,500

    = $19,250
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “g Corentine Co. had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total purchases on account during October were ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
On august 31 of the current year, the assets and liabilities of gladstone, inc. are as follows: cash $30,000; supplies, $600; equipment, $10,000; accounts payable, $8,500.
Answers (1)
If bonds are sold between interest payment dates, the amount of cash the issuer receives is a) equal to the market value of the bonds. b) equal to the face value of the bonds. c) less than the market value of the bonds.
Answers (2)
Joe and karina depend on both of their salaries to afford their mortgage. karina recently lost her job and they are worried that they may have to sell their house.
Answers (1)
In what order are the four primary financial statements prepared
Answers (1)
Why should management increase with the size of the company? a. so the company can maintain the same ratio as when it was small b. so that the growth can be carefully monitored and managed c.
Answers (1)
New Questions in Business
A stock has an expected return of 10.45 percent, its beta is. 93, and the risk-free rate is 3.6 percent. What must the expected return on the market be?
Answers (1)
For Blossom Inc., variable manufacturing overhead costs are expected to be $21,050 in the first quarter of 2020, with $4,220 increments in each of the remaining three quarters. Fixed overhead costs are estimated to be $35,750 in each quarter.
Answers (1)
How much would you expect the simpsons to consume if their income was $32,000 and they paid taxes of $5,000? consumption:?
Answers (1)
How to make a promotional mix for a company
Answers (1)
A. True b. False: before a computer can execute a program written in a high level language, such as c++, it must be translated into object code.
Answers (1)
Home » Business » g Corentine Co. had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total purchases on account during October were $281,000. Determine how much cash was paid on accounts payable during October. On September 30, Valerian Co.
Sign Up Forgot Password?