Kale started the year with Cash of $300,000 and ended the year with $250,000. During the year...

Kale started the year with Cash of $300,000 and ended the year with $250,000. During the year Kale had cash disbursements of $825,000. What is the amount of Kales cash receipts?

Kale ended the year with $200,000 of accounts receivable. During the year Kale collected $300,000 on it accounts receivable and had $350,000 of sales on credit (earned revenue on credit). What was the beginning balance of accounts receivable?

Kale started with $50,000 of accounts payable and ended the year with $22,000 of payables. During the year Kale paid $102,000 on its payables. What is the amount of credit purchases during the year?

Solutions

Expert Solution

Amount of cash receipts = Ending balance + Cash disbursements – Beginning Balance

= 250,000+825,000-300,000

= $775,000

Beginning balance + credit sales – Amount received = Ending balance

Beginning balance = 200,000+300,000-350,000

= $150,000

Beginning balance + credit purchases – paid during the period = ending balance

Credit purchases = 22000+102000-50,000

= $74,000

ekkarill92 answered 2 years ago

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