Compute the following items for the cash flow statement: a. Beginning Accounts Receivable....................................$25,000 Ending Accounts Receivable.............................................21,000 Credit
Question:
Compute the following items for the cash flow statement:
a. Beginning Accounts Receivable....................................$25,000
Ending Accounts Receivable.............................................21,000
Credit sales for the period...............................................100,000
Cash collections..................................................................?
b. Cost of goods sold...................................................$80,000
Beginning Inventory balance............................................20,000
Ending Inventory balance...............................................16,000
Beginning Accounts Payable............................................12,000
Ending Accounts Payable................................................8,000
Cash payments for inventory..................................................?
Ending InventoryThe ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...
Step by Step Answer:
a b OR Cash collections ...View the full answer
Accounting
ISBN: 978-0132690089
9th Canadian Edition volume 2
Authors: Charles T. Horngren, Walter T. Harrison Jr., Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
