The following transactions occurred during July: Received $900 cash for services performed during July. Received $5,350 cash fro

Question

3 years ago

9

The following transactions occurred during July: Received $900 cash for services performed during July. Received $5,350 cash fro

m the issuance of common stock to owners. Received $450 from a customer as payment for services performed during June. Billed $3,650 to customers for services performed on account in July. Borrowed $2,600 from the bank and signed a promissory note. Received $1,150 from a customer for services to be performed during August. As a result of these transactions, what is the amount of the increase to the Cash account

Business

2 answers:

Lady bird [3.3K] · Answer 1 · 2022-03-21T22:56:22+03:00

Answer:

The amount of the increase to the Cash account is $10,450

Explanation:

<em>Cash account </em>

Cash for services performed during July $900

Cash from the issuance of common stock to owners $5350

Cash received from customer as payment for services performed during June $450

Cash Borrowed from bank $2600

Cash received from customer service to be performed during august $1150

Total sum is Cash account increase of $10,450

professor190 [17] · Answer 2 · 2022-03-22T00:16:40+03:00

Answer:

The amount of the increase to the Cash account is $10,450

Explanation:

In order to calculate the amount of the increase to the Cash account we would have to make the following calculations:

amount of the increase to the Cash account= cash for services performed during July+cash from the issuance of common stock to owners+cash received from customer as payment for services performed during June+Borrow from bank+Received from customer service to be performed during august

amount of the increase to the Cash account= $900 + $5,350 + $450 + $2,600 + $1,150

amount of the increase to the Cash account= $10,450

The amount of the increase to the Cash account is $10,450