Excel_Student_05-33kh

Excel_Student_05-33kh - 191,000 Total cash paid on accounts...

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05-33 Name: Enter the appropriate numbers/formulas in the blue-shaded cells. The word “Wrong” will appear to the left of incorrect entries. 1. Cash collected from accounts receivable: Accounts receivable, beginning balance $372,000 Sales in 2013 3,946,000 Total collectible accounts $4,318,000 Less: Accounts receivable, ending balance 409,000 Cash collected in 2013 $3,909,000 2. Cash paid on accounts payable: Inventory, ending balance $289,000 Add: Cost of goods sold in 2013 2,385,000 Total goods available in 2013 $2,674,000 Less: Inventory, beginning balance 304,000 Inventory purchases in 2013 $2,370,000 Accounts payable, beginning balance $174,000 Add: Inventory purchases in 2013 2,370,000 Total accounts to be paid in 2013 $2,544,000 Less: Accounts payable, ending balance
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Unformatted text preview: 191,000 Total cash paid on accounts payable in 2013 $2,353,000 3. Cash dividend payment: Retained earnings beginning balance $211,000 Add: Net income, 2013 769,000 $980,000 Less: Retained earnings, ending balance 525,000 Total dividends declared $455,000 Less: Increase in dividends payable 65,000 Total cash dividend payment in 2013 $390,000 4. Cash receipts not provided by operations: Cash provided from financing: Notes payable $104,000 Common stock 25,000 Cash receipts not provided by operations $129,000 5. Cash payments for assets not reflected in operations: Available-for-sale securities $400,000 Property, plant, and equipment 115,000 Cash payments for assets not reflected in operations $515,000...
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