A comparative balance sheet, income statement, and additional information for Shillig Doors Inc. follow. Additional information for

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A comparative balance sheet, income statement, and additional information for Shillig Doors Inc. follow.

A comparative balance sheet, income statement, and additional in

Additional information for Shillig:
(a) All accounts receivable and accounts payable relate to trade merchandise.
(b) The proceeds from the notes payable were used to finance plant expansion.
(c) Capital stock was sold to provide additional working capital.
Compute the following for 2011:
Cash collected from accounts receivable, assuming all sales are on account.
Cash payments made on accounts payable to suppliers, assuming that all purchases of inventory are on account.
Cash payments for dividends.
Cash receipts that were not provided by operations.
Cash payments for assets that were not reflected inoperations.

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Related Book For  book-img-for-question

Intermediate Accounting

ISBN: 978-0324592375

17th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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