How much is the average daily disbursement float? How much is the average daily collection float? How much is the net float?
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National Co.’s average daily payment is P10,000 meanwhile daily collection average P5,000.
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- 1. You are tasked to perform cut-off procedures for expenses and its related payable. In testing the completeness/cut-off assertion, what document would you most likely inspect? Group of answer choices a. Accounts payable subsidiary ledger. b. Vendor invoice register 15 days before and 15 days after report date. c. Purchase journal 15 days before and 15 days after report date. d. Cash disbursement journal 15 days before and 15 days after report date. 2. During the review of loan contracts and agreements, the auditor would most likely figure out the following, except: Group of answer choices a. The existence of loans. b. The completeness of loans. c. The accuracy of interest expense recorded by the entity. d. Related disclosures pertaining to assets pledged as collateral.You are tasked to perform cut-off procedures for expenses and its related payable. In testing the completeness/cut-off assertion, what document would you most likely inspect? A. Vendor invoice register 15 days before and 15 days after report date. B. Cash disbursement journal 15 days before and 15 days after report date. C. Accounts payabie subsidiary ledger. D. Purchase journal 15 days before and 15 days after report date.Oriole Products uses both special journals and a general journal. Oriole also posts customers' accounts in the accounts receivable subsidiary ledger. The postings for the most recent month are included in the subsidiary T-accounts below. Estes Bal. 305 245 Truong 0 Bal. 225 Gehrke Bal. 275 170 Weiser Bal. 155 310 160 230 225 275 155 Determine the correct amount of the end-of-month posting from the sales journal to the Accounts Receivable control account.
- . Using the same information above, determine the branch current account in the Home Office books on January 1, 2022. Using the same information above, shipments to Branch account in the Home Office books on January 1, 2022.Which of the following correctly describes the posting of transactions from the sales journal? Individual accounts receivable are posted daily to the general ledger. At the end of the month, the totals of the columns are posted to the general ledger. Transactions are posted daily to the general ledger. The total of the Accounts Receivable DR, Sales Revenue CR column is posted to the accounts receivable subsidiary ledger.The debits and credits from three related transactions are presented in the following customer's account taken from the accounts receivable subsidiary ledger: Mission Design 1319 Elm Street NAME ADDRESS Post. Date Item Ref. Debit Credit Balance 20Υ7 Apr. 3 R44 740 740 J11 60 680 CR81 24 680 Describe each transaction and identify the source of each posting.
- 39) The payables ledger control account includes separate account for each supplier and helps to know how much the busines owe to them. Which of the following day books are used to prepare the above, except? a. Cash receipts book b. Purchases daybook c. Cash payments book d. Purchases return daybookYou are tasked to perform cut-off procedures for expenses and its related payable. In testing the completeness/cut-off assertion, what document would you most likely inspect? Group of answer choices A. Purchase journal 15 days before and 15 days after report date. B. Accounts payable subsidiary ledger. C. Cash disbursement journal 15 days before and 15 days after report date. D. Vendor invoice register 15 days before and 15 days after report date.determine the correct amount of the end-of-month posting the sales journal to the Account Receivable control account. Amount of the end-of-month posting from the sales journal to the Account Receivable $ Pharoah Products uses both special journals and a general journal. Pharoah also posts customers accounts in the accounts receivable subsidiary ledger. The postings for the most recent month are included in the subsidiary T-accounts below. Estes Bal. 290 215 195 Truong Bal. 300 300 Gehrke Bal. 215 215 340 Weiser Bal. 170 170 150
- Required information [The following information applies to the questions displayed below.] Required: 1. Create a calculated field to calculate the Days Past Due for each invoice. 2. Summarize the accounts receivable by customer. 3. Get the detailed receivables for the customer "Taste of Thai". Ask the Question: How can we use Tableau on the total detailed late accounts receivables balance to get specific detail on invoices due by customer? Master the Data: To begin, we have a list of 200 receivables that are all past their due date as of today's date of 12/31/2021. This is shown in the Excel file Lab 2-2 Data.xlsx, which will be imported into Tableau. Software needed ⚫ Tableau • Screen capture tool (Windows: Snipping Tool; Mac: Cmd+Shift+4) Data: Excel File Lab 2-2 Alt Data.xlsx. Perform the Analysis: Refer to Lab 2-2 Alternative in the text for instructions and Lab 2-2 steps for each of the lab parts. Share the Story: Required: 1. What is the grand total amount owed in past due…27.The individual customer accounts of ABC Company at June 30, 20X1 revealed the following data: Customer A, P3,700 with invoice # 34 dated June 7 Customer F, P6,300 with invoice # 20 dated May 3 Customer M, P2,000 with invoice # 29 dated May 28 Customer R, P10,000 with invoice # 16 dated March 31 Customer X, P11,000 with invoice # 40 dated June 17ABC uses the aging of receivable to account for the uncollectible accounts. Bad debt rates are 2% for 0-30 days; 4% for 31-60 days and 5% for beyond 60 days. Allowance for bad debts, June 1, P1,000 How much is the net realizable amount of accounts receivable at June 30? 34,874 33,000 32,000Maddie Inc. has the following transactions for its first month of business. A. What are the individual account balances, and the total balance, in the accounts receivable subsidiary ledger? B. What is the balance in the accounts receivable general ledger (control) account?
