Question

Compute the following items for the statement of cash flows:
1. The beginning and ending Accounts Receivable balances are $30,000 and $32,000, respectively. Credit sales for the period total $60,000. How much are cash collections?
2. Cost of Goods Sold is $100,000. Beginning Inventory balance is $23,000, and ending Inventory balance is $17,000. Beginning and ending Accounts Payable are $15,000 and $13,000, respectively. How much are cash payments for inventory?



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  • CreatedApril 29, 2014
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