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adelina 88 [10]
3 years ago
6

Andy Company had a cash balance on May 1 of $ 29 000. At the end of May, the cash balance has increased to $ 30 000. During the

month of May, Andy received cash of $ 50 000 from various sources. Based on this information, cash payments for the month of May were ______.
Business
1 answer:
ad-work [718]3 years ago
3 0

Answer:

$49,000

Explanation:

The cash balance at the end of the period is the remaining balance after considering the opening cash balance and the net movement (which is the inflow and outflow) in cash during the period.

Let the cash payments be y

$29000 + $50000 - y = $30,000

y = $29000 + $50000 - $30,000

y = $49,000

Cash payments for the month of May were $49,000

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What is the effect on total assets and​ stockholders' equity of paying the telephone bill as soon as it is received each​ month?
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Answer:

Option C) Decrease in Total Assets , and No Effect on Equity

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3 years ago
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5 0
10 months ago
Prairie, Inc. produces a single product. It has an annual capacity of 10,000 units, but currently uses only 80% of it. Each unit
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Answer:

Variable cost= $42

Explanation:

Giving the following information:

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