Information related to various financial statement elements is provided for two cases: Case A Operating expenses were

Question:

Information related to various financial statement elements is provided for two cases:

Case A Operating expenses were $500,000. Inventory increased by $72,000, accounts payable increased by $50,000, and prepaid rent decreased by $16,000.

Case B Sales revenue was $1,350,000. Accounts receivable decreased by $75,000 and unearned revenue increased by $46,000 during the year.


Required:

For each case, calculate the cash inflow or outflow related to the revenue or expense account.

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Related Book For  book-img-for-question

Intermediate Accounting Volume 1

ISBN: 9781260306743

7th Edition

Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod Dick

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