Molino Inc. reported sales revenue of $2 million for 2015. Accounts receivable decreased $200,000 and accounts payable increased $300,000. Compute cash receipts from customers, assuming that the receivable and payable transactions related to operations.
Answer to relevant QuestionsEach of the items below must be considered in preparing a statement of cash flows for Baskerville Co. for the year ended December 31, 2015. For each item, state how it should be shown in the statement of cash flows for ...Wise Photography reported net income of $130,000 for 2015. Included in the income statement were depreciation expense of $6,000, amortization expense of $2,000, and a gain on disposal of equipment of $3,600. Wise's ...Data for Nosker Company are presented in P13-7A. Further analysis reveals the following.1. Accounts payable pertain to merchandise suppliers.2. All operating expenses except for depreciation were paid in cash.In P13-7A, ...RAF Inc. reported 2014 earnings per share of $3.20 and had no extraordinary items. In 2015, EPS on income before extraordinary items was $2.99, and EPS on net income was $3.49. Is this a favorable trend?The ledger of Jaime Corporation at December 31, 2015, contains the following summary data.Net sales ............. 1,700,000Selling expenses .......... 120,000Other revenues and gains ...... 20,000Cost of goods ...
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