Reference no: EM131625601
Question 1: If office supplies on hand amounted to $2,750 at the beginning of the period and total purchases of office supplies during the period amounted to $14,200, determine the ending balance of office supplies on hand if office supplies expense for the period amounted to $13,225.
Question 2: If beginning and ending accounts receivable were $76,500 and $82,000, respectively, and total sales made on account for the period amounted to $174,000, determine the amount of cash collections from customers on account for the period.
Question 3: Assume all rent revenues are received in advance and accounted for as unearned rent, and beginning and ending balances of unearned rent are $8,000 and $9,000, respectively. If total rent revenue for the period amounts to $23,000, determine the amount of rent collections in advance for the period.
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