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

question 125

Essay

During the most recent month,Ostriker Company began operations with a cash balance of $0 and made 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:

Diversity Competency

The ability to understand, appreciate, and leverage differences among people in a workforce to improve business outcomes.

Lockheed Martin

An American aerospace, defense, arms, security, and advanced technologies company with worldwide interests.

Inclusive Behavior

Actions and practices that make all individuals feel welcomed, respected, and valued within a group or organization.

Employee Involvement

Practices that empower employees by giving them a voice in decisions affecting their work and the organization, aiming to increase commitment and productivity.