Answer:
A. Effect=CASH PAYMENT
Amount=$411,000
B. Effect=CASH RECEIPT
Amount=$440,000
C. Effect= CASH RECEIPT
Amount=$60,000
D. Effect= CASH PAYMENT
Amount=$650,000
E. Effect= CASH PAYMENT
Amount=$50,000
F.Effect=CASH RECEIPT
Amount=$490,000
G. Effect= CASH PAYMENT
Amount=$400,000
H. Effect=CASH PAYMENT
Amount=$1,320,000
Explanation:
Calculation to State the effect of cash receipt or payment and the amount
A. Based on the information given the effect will be CASH PAYMENT of the amount of $411,000
Effect= CASH PAYMENT
Amount=$411,000
B. Based on the information given the effect will be CASH RECEIPT of the amount of $440,000(20,000*$22))
Effect= CASH RECEIPT
Amount= $440,000
(20,000*$22)
C. Based on the information given the effect will be CASH RECEIPT of the amount of $60,000
Effect=CASH RECEIPT
Amount=$60,000
D. Based on the information given the effect will be CASH PAYMENT of the amount of $650,000
Effect=CASH PAYMENT
Amount= $650,000
E. Based on the information given the effect will be CASH PAYMENT of the amount of $50,000
Effect=CASH PAYMENT
Amount=$50,000
F. Based on the information given the effect will be CASH RECEIPT of the amount of $490,000 (98%*$500,000)
Effect=CASH RECEIPT
Amount=$490,000
(98%*$500,000)
G. Based on the information given the effect will be CASH PAYMENT of the amount of $400,000 (10,000*$40)
Effect=CASH PAYMENT
Amount=$400,000
(10,000*$40)
H. Based on the information given the effect will be CASH PAYMENT of the amount of $1,320,000 (1,000,0000*$1.50)-(120,000*$1.50)]
Effect= CASH PAYMENT
Amount=$1,320,000
[(1,000,0000*$1.50)-(120,000*$1.50)]
=$1,500,000-$180,000
=$1,320,000
