Mega Screens, Inc., reports net sales of $2,400,000, cost of goods sold of $1,600,000, and income tax
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Calculate cash received from customers, cash paid to suppliers, and cash paid for incometaxes.
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Mega Screens, Inc. Selected Balance Sheet Data December 31 Cash Accounts receivable Inventory Accounts payable Income tax payable 2015 S125,000 150,000 145,000 105,000 5,000 2014 S155,000 175,000 100.000 120,000 0.000 Increase (ID or Decrease (D) S30,000 (D) 25,000 (D) 45,000 (I) 15,000 (D) 5,000 (D)
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Net sales 2400000 Decrease in accounts receivable 25000 Cash receive...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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