5 On December 31, 2022, Wellstone Company reported net profit of $70,000 and sales of $210,000. The...
Question:
5 | On December 31, 2022, Wellstone Company reported net profit of $70,000 and sales of $210,000. The company also reported beginning and ending accounts receivable at $20,000 and $25,000, respectively. Wellstone will report cash collected from customers in its 2022 statement of cash flows (direct method) in the amount of ______.
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6
. | Pickering Company's prepaid insurance was $8,000 as of December 31, 2021, and $10,000 as of December 31, 2022. Pickering reported insurance expense of $15,000 on the 2022 statement of profit or loss. What amount would be reported in the statement of cash flows as insurance paid using the direct method?
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7 | Dooling Corporation reported balances in the following accounts for the current year:
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8. | Sneed Corporation reported balances in the following accounts for the current year:
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9. | S Company reported net profit for 2022 in the amount of $400,000. The company's financial statements also included the following:
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10. | Creble Company reported net profit for 2022 in the amount of $40,000. The company's financial statements also included the following:
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Managerial Accounting
ISBN: 9781260247787
17th Edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer