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suter [353]
3 years ago
9

If the beginning Cash account balance of Moonbeam, Inc. was $40,000, the ending balance was $67,200, and the total cash paid out

during the period was $128,000, what amount of cash was received during the period
Business
1 answer:
lara [203]3 years ago
7 0

Answer:

Cash Received during the period = $155200

Explanation:

The amount of receipts or cash received during the period can be calculated using the following formula.

Cash Received = Closing Balance + Cash Disbursements - Opening Balance

Cash Received = 67200 + 128000 - 40000

Cash Received = $155200

So, the cash receipts during the period are $155200.

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The general ledger shows a balance of $ 66 comma 200 in the Merchandise Inventory account at the end of the period. The physical
madam [21]

Answer:

The adjusting entry includes a debit to Cost of Goods Sold and a credit to Merchandise Inventory for $3,200

Explanation:

Perpetual inventory is a method of accounting for inventory that records the sale or purchase of inventory immediately

The adjusting entry is calculated by subtracting the physical inventory account from the merchandise inventory account

Given

Physical Inventory Account= $63,000

Merchandise Inventory Account= $66200

Adjusting Entry = Merchandise Inventory Account - Physical Inventory Account

Adjusting Entry = $66,200 - $63,000

Adjusting Entry = $3200

6 0
3 years ago
Kristen Lu purchased a used automobile for $10,100 at the beginning of last year and incurred the following operating costs: Dep
densk [106]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Kristen Lu purchased a used automobile for $10,100 at the beginning of last year and incurred the following operating costs: Depreciation ($10,100 ÷ 5 years) $ 2,020 Insurance $ 1,100 Garage rent $ 600 Automobile tax and license $ 280 Variable operating cost $ 0.14 per mile

1) 10,000 miles

Insurance= 1,100

Garage= 600

Tax= 280

Variable costs= 0.14*10,000= 1,400

Total= $3,380

Cost per mile= 3380/10000= $0.338

2) The only relevant cost is the variable operating cost per mile. The other costs will exist whether she uses the car or not.

3 0
3 years ago
Which of the following is true about a "credit"? I. It is part of the double-entry procedure that keeps the accounting equation
kipiarov [429]

Answer:

III. I, II, III, and IV.

  • I. It is part of the double-entry procedure that keeps the accounting equation in balance.
  • II. It represents a decrease to assets.
  • III. It represents an increase to liabilities.
  • IV. It is on the right side of a T-account.

Explanation:

The debit-credit balance is necessary for maintaining the accounting equation in balance, i.e. all the debits must have a corresponding credit.

Asset accounts increase when they are debited and decrease when they are credited.

Liabilities accounts decrease when they are debited and increase when they are credited.

Debits are on the left side of a t-account and credits are on the right side.

3 0
3 years ago
A what is when a group of companies illegally work together and essentially create a monopoly in order to increase prices and th
ser-zykov [4K]

A cartel is when a group of companies illegally work together and essentially create a monopoly in order to increase prices and their profits.

8 0
3 years ago
Write a paragraph explaining the difference between renewable and nonrenewable natural resources
KATRIN_1 [288]

Answer:

A renewable resource is something that can be reused or replenished naturally over time.  The five major renewable energy resources are solar, wind, water (hydro), biomass, and geothermal. Renewable often can be looked at similar to recycling because you can reuse. Where as Nonrenewable energy resources include things like coal, nuclear, oil, and natural gas; which are limited supply. When those run out they are out they can't be reused or replenished.

Explanation:

Common knowledge

5 0
3 years ago
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