Question: Ch 2 Homework (LOS 1-4) i 5 Saved 11.11 points Castile Inc. had a beginning balance of $4,000 in its Accounts Receivable account. The ending

Ch 2 Homework (LOS 1-4) i 5 Saved 11.11 points Castile Inc. had a beginning balance of $4,000 in its Accounts Receivable account. The ending balance of Accounts Receivable was $4,500. During the period, Castile recognized $68,000 of revenue on account. Castile's Salarles Payable account has a beginning balance of $2,600 and an ending balance of $1,500. During the period, the company recognized $46,000 of accrued salary expense. Required a. Based on the information provided, determine the amount of net income. b. Based on the information provided, determine the amount of net cash flow from operating activitie eBook Hint Print References a Net income $ 22,000 b Net cash flow from operating activities Help Save & Exit Submit Check my work

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!