Business, 23.08.2021 16:50 isabellajmoody

Hanson Construction has an operating cycle of 9 months. On December 31, Hanson has the following assets and liabilities: A note receivable in the amount of $1,200 to be collected in 6 months Cash totaling $490 Accounts payable totaling $2,000, all of which will be paid within 2 months Accounts receivable totaling $12,000, including an account for $8,000 that will be paid in 2 months and an account for $4,000 that will be paid in 18 months Construction supplies costing $8,800, all of which will be used in construction within the next 12 months Construction equipment costing $60,000, on which depreciation of $22,400 has accumulated A note payable to the bank in the amount of $7,600 is to be paid within the next year Required:

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 21:40

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

Answer

Business, 23.06.2019 00:50

Mr. drucker uses a periodic review system to manage the inventory in his dry goods store. he likes to maintain 15 sacks of sugar on his shelves based on the annual demand figure of 225 sacks. it costs $2 to place an order for sugar and costs $1 to hold a sack in inventory for a year. mr. drucker checks inventory one day and notes that he is down to 9 sacks; how much should he order?

Answers: 1

Answer

Business, 23.06.2019 13:10

Use the drop-down menus to complete the statements about credit reports and scores. a credit report summarizes a person’s . a credit score is a measure of a person’s as a borrower. is a factor that contributes to a person’s credit score.

Answers: 2

Answer

Business, 23.06.2019 15:30

In its first year of operations, sunland company recognized $30,000 in service revenue, $8,100 of which was on account and still outstanding at year-end. the remaining $21,900 was received in cash from customers. the company incurred operating expenses of $18,600. of these expenses, $12,880 were paid in cash; $5,720 was still owed on account at year-end. in addition, sunland prepaid $3,270 for insurance coverage that would not be used until the second year of operations. (a) calculate the first year's net earnings under the cash basis of accounting, and the first year's net earnings under the accrual basis of accounting.

Answers: 2

Answer

You know the right answer?

Hanson Construction has an operating cycle of 9 months. On December 31, Hanson has the following ass...

Questions