been received on c Solution Computation of Adjusted Cash Bal

been received on c

Solution

Computation of Adjusted Cash Balance Cash Balance $47,710 Cash disbursement after discount(42,800*98%) $41,944 $89,654 Cash sale in january($36180-$26130) -$10,050 Cash collected on account -$25,284 Bank loan proceeds -$11,690 Adjusted cash* $42,630 Computation of Adjusted Account Receivable Account Receivable balance $97,980 Accounts reduced from january collection($25284/.98) $25,800 $123,780 Account receivable in January -$26,130 Adjusted accounts receivable** $97,650 Computation of Adjusted Inventory Inventories $174,220 Inventories received on consignment -$12,600 Adjustment to inventory*** $161,620 Computation of Account Payable Accounts Payable $70,240 Cash disbursement $42,800 Purchase invoice ommitted($27500-$12600) -$14,900 Adjusted account payable a $98,140 Computation of Note Payable Notes Payable $73,450 Proceeds of bank loan -$11,690 Adjusted notes payable b $61,760