Pad * 68%- 3:57 AM ? edugen.wileyplus.com Edition (ACCT2293) Home Read, Study &

Question

Pad * 68%- 3:57 AM ? edugen.wileyplus.com Edition (ACCT2293) Home Read, Study & Practice Assignment Gradebook ORION Downloadable eTextbook Assignment> Open Assignment MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Exercise 13-13 a-d HW Chapter Exercise 13-4 Answer the following questions xercise 13-13 a-d The following selected information is taken from the general ledger of Carla Vista Limited: Sales revenue Accounts receivable, January 1 Accounts receivable, December 31 Unearned revenue, January 1 Unearned revenue, December 31 $165,000 16,400 13,900 1,900 5,200 4A bl 0A Review Results by Study Objective Using the above information and the direct method, calculate the cash receipts from customers Cash receipts from customers LINK TO TEX The following selected information is taken from the general ledger of Carla Vista Limited: Cost of goods sold Inventory, January 1 Inventory, December 31 Ac $89,000 11,400 13,500 2,600 6.000 counts payable, January 1 Accounts pavable, December 31

Explanation / Answer

Cash received from customers = sales revenue+beginning receivable-ending receivable+ending unearned revenue-beginning unearned revenue = 165000+16400-13900+5200-1900 =$170800 Cash payment to suppliers = cost of goods sold+ending inventory-closing inventory+beginning accounts payable-closing accounts payable = 89000+13500-11400+2600-6000 =87700 Cash payment to employees = salary expense+beginning salaries payable-ending salaries payable =48000+4840-1800 =$51040

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