Question: Company A had sales of 1 500 during the year and
Company A had sales of $1,500 during the year and collected them all in cash. Company B, on the other hand, had sales of $1,500 during the year but collected only $1,000 cash with the remaining $500 sales on account. Both firms had expenses of $700, all paid in cash by both firms. What was Company A’s net income for the year? What was Company B’s net income for the year? What was Company A’s net cash from operating activities during the year? What was Company B’s net cash from operating activities during the year?
Relevant QuestionsThe cost of supplies purchased by the Decker Company was $5,000 during the year. Decker used $4,000 worth of those supplies during the year and still had $1,000 worth of them left at year end. What was the amount of ...Myadd, Inc., spent $3,000 on catering for its grand opening. Myadd paid the caterer half of the bill at the event, and requested a bill for the remaining half. The following day, Myadd’s accountant had to record the ...Given the following information, compute the current ratio for the two years shown. Explain the trend in the ratio for both years and what you think itmeans.The following data was taken from the 2009 and 2008 financial statements of Tasty Sweets Corporation. Calculate the current ratio for each year. What happened to the company’s liquidity from 2008 to2009?Use the information from Shane and Lane, Inc., for the year ended December 31, 2011, to answer the questions that follow. Assume that the shareholders made new contributions of $25 to the company during the year.a. Expenses ...
Post your question