Business, 24.06.2019 09:10 ilovesummertime207

Holloway company earned $18,000 of service revenue on account during 2018. the company collected $14,000 cash from accounts receivable during 2018. required based on this information alone, determine the following for holloway company. (hint: record the events in general ledger accounts under an accounting equation before satisfying the requirements.) the balance of the accounts receivable that would be reported on the december 31, 2018, balance sheet. the amount of net income that would be reported on the 2018 income statement. the amount of net cash flow from operating activities that would be reported on the 2018 statement of cash flows. the amount of retained earnings that would be reported on the 2018 balance sheet.

Answers: 3

Show answers

Other questions on the subject: Business

Business, 22.06.2019 10:10, travisvb

Ursus, inc., is considering a project that would have a five-year life and would require a $1,650,000 investment in equipment. at the end of five years, the project would terminate and the equipment would have no salvage value. the project would provide net operating income each year as follows (ignore income taxes.):

Answers: 1

continue

Business, 22.06.2019 15:00, Jocelynrichards

Why entrepreneurs start businesses. a) monopolistic competition b) perfect competition c) sole proprietorship d) profit motive

Answers: 1

continue

Business, 22.06.2019 15:30, graciemccain

On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.

Answers: 3

continue

Business, 22.06.2019 21:40, andyboehm7411

The following items could appear on a bank reconciliation: a. outstanding checks, $670. b. deposits in transit, $1,500. c. nsf check from customer, no. 548, for $175. d. bank collection of note receivable of $800, and interest of $80. e. interest earned on bank balance, $20. f. service charge, $10. g. the business credited cash for $200. the correct amount was $2,000. h. the bank incorrectly decreased the business's by $350 for a check written by another business. classify each item as (1) an addition to the book balance, (2) a subtraction from the book balance, (3) an addition to the bank balance, or (4) a subtraction from the bank balance.

Answers: 1

continue

You know the right answer?

Holloway company earned $18,000 of service revenue on account during 2018. the company collected $14...