Treat Each Part of This Problem as Independent of the Others

question 102

Essay

Treat each part of this problem as independent of the others.
a)At January 1,2012,the amount of accounts receivable was $20,000.Cash collected on accounts receivable during the year was $75,000.At December 31,2012,the amount of accounts receivable was $30,000.What were the revenues earned on account during 2012?
b)At January 1,2012,accounts payable was $17,000.During 2012,expenses on account were $28,000.At December 31,2012,accounts payable was $15,000.What was the amount of cash paid on accounts payable during 2012?
c)At January 1,2012,the balance in the Retained Earnings account was $7,200.During the year,revenue earned was $19,800 and expenses incurred were $7,400.At December 31,2012,the balance in the retained earnings account was $14,200.What was the amount of cash dividends paid to stockholders during 2012?

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Definitions:

Gender

A social and cultural construct related to roles, behaviors, activities, and attributes that a society considers appropriate for men and women.

Biology

The scientific study of life and living organisms, including their structure, function, growth, evolution, and distribution.

Ethnomethodologists

Sociologists who study how people use everyday conversational and social interactions to construct a shared social reality.

Accounts

In sociology, explanations or narratives given to justify actions or behaviors and to maintain social identities or relationships.