Kelly SpA had cash receipts from customers in 2022 of €142,000. Cash payments for operating expenses were €97,000. Kelly has determined that at January 1, accounts receivable was €13,000, and prepaid expenses were €17,500. At December 31, accounts receivable was €18,600, and prepaid expenses were €23,200. Compute (a) Service revenue (b) Operating expenses.

Chapter 3, Brief Exercises #12

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Kelly SpA had cash receipts from customers in 2022 of €142,000. Cash payments for operating expenses were €97,000. Kelly has determined that at January 1, accounts receivable was €13,000, and prepaid expenses were €17,500. At December 31, accounts receivable was €18,600, and prepaid expenses were €23,200. Compute

(a) Service revenue 

(b) Operating expenses.

Related Book For answer-question

Intermediate Accounting IFRS

4th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

ISBN: 9781119607519