Question

Compute the following items for the statement of cash flows:
1. The beginning and ending Accounts Receivable balances are $23,000 and $24,000, respectively. Credit sales for the period total $72,000. How much are cash collections?
2. Cost of Goods Sold is $76,000. Beginning Inventory balance is $28,000 and ending Inventory balance is $32,000. Beginning and ending Accounts Payable are $8,000 and $10,000, respectively. How much are cash payments for inventory?



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  • CreatedApril 29, 2014
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