Compute the following items for the statement of cash flows: a. Beginning and ending Accounts Receivable...
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Compute the following items for the statement of cash flows: a. Beginning and ending Accounts Receivable are $21,000 and $24,000, respectively. Credit sales for the period total $62,000. How much are cash collections from customers? b. Cost of Goods Sold is $73,000. Beginning Inventory balance is $26,000, and Ending Inventory balance is $20,000. Beginning and ending Accounts Payable are $9,000 and $4,000, respectively. How much are cash payments for inventory? Compute the following items for the statement of cash flows: a. Beginning and ending Accounts Receivable are $21,000 and $24,000, respectively. Credit sales for the period total $62,000. How much are cash collections from customers? b. Cost of Goods Sold is $73,000. Beginning Inventory balance is $26,000, and Ending Inventory balance is $20,000. Beginning and ending Accounts Payable are $9,000 and $4,000, respectively. How much are cash payments for inventory?
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a To calculate the cash collections from customers we need to find the cash received from credit sal... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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