During the Most Recent Month,Ostriker Company Began Operations with a Cash

question 61

Essay

During the most recent month,Ostriker Company began operations with a cash balance of $0 and made cash sales of $81,000.During this same time period,the company paid $32,000 in cash expenses.Additionally,the company purchased supplies on account,$34,000,made sales on account,$90,000,and received cash on the credit sales $52,000.
a.If cash at the end of the month totals $74,000,how much cash was paid on account?
b.What is the total amount still to be paid?
c.What is the total amount still to be received?

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Definitions:

Sensory Motor Skills

Abilities that require coordination between the sensory system and the motor system, involving actions like grasping, moving, and manipulating objects.

Kraepelin's Word Association Test

A psychological test developed by Emil Kraepelin that studies the association process in the psyche by analyzing the respondent's reactions to words presented by the experimenter.

Woodworth's Personal Data Sheet

One of the first self-report inventories designed to assess psychological well-being, used initially for military personnel.

Objective Instruments

Tools or devices used in research or assessment that provide measurable and unbiased results.