Question: Sales for 2010 were 50 000 cost of goods sold was
Sales for 2010 were $50,000; cost of goods sold was $35,000. If accounts receivable increased by $2,000; inventory decreased by $1,300; accounts payable decreased by $2,000; and other accrued liabilities decreased by $1,000, how much cash was paid to vendors and suppliers during the year? How would the cash from this transaction be classified on the statement of cash flows?
Answer to relevant QuestionsThe income statement for Lilly’s Company for the year ended June 30, 2010, showed sales of $50,000. During the year, the balance in accounts receivable increased by $7,500. What adjustment to net income would be shown in ...Given the following cash transactions, classify each as a cash flow from (1) Operating activities, (2) Investing activities, (3) Financing activities.a. Principal payment to the bank for a loanb. Collection from customers to ...The comparative balance sheets for JayCee Company showed the following changes in current asset accounts: accounts receivable decreased by $50,000, prepaid expenses decreased by $23,000, and merchandise inventory increased ...Use the information from E9-24A to calculate the cash flow from operations for Very Heavenly Desserts, Inc. Based on the information provided, which method of preparing the statement of cash flows does the company use?In ...For each of the following items, tell whether it is a cash inflow or cash outflow and the section of the statement of cash flows in which the item would appear. (Assume the direct method isused.)
Post your question