D Final Exam - Requires Respondus Lock Down Browser + Webcam Page 1: Page 2: Cash...

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D Final Exam - Requires Respondus Lock Down Browser + Webcam Page 1: Page 2: Cash The 2021 financial statements of Canbuild Inc. are presented below (unit measure in thousand). 2021 2020 Accounts receivable(net) 40 30 Inventory 228 219 Equipment Accumulated depreciation-equipment 106 137 134 175 Total assets Accounts payable (110) (130) 398 431 82 75 Dividends payable 36 33 Long-term loan payable 107 107 Common shares 110 110 Retained earnings 63 106 Total liabilities and shareholders' equity 398 431 Sales revenues 1,245 Cost of goods sold (655) Depreciation expenses (98) (324) Net income 168 Other operating expenses During fiscal $153,000. Required:* I year 2021, Canbuild sold a piece of its equipment. The equipment sold had originally cost Determine the amount of cash collected from customers. Clearly show calculations for numbers that are not given (2 points). RECORDING 0:00:51 caused D Final Exam - Requires Respondus Lock Down Browser + Webcam Page 1: Page 2: Cash The 2021 financial statements of Canbuild Inc. are presented below (unit measure in thousand). 2021 2020 Accounts receivable(net) 40 30 Inventory 228 219 Equipment Accumulated depreciation-equipment 106 137 134 175 Total assets Accounts payable (110) (130) 398 431 82 75 Dividends payable 36 33 Long-term loan payable 107 107 Common shares 110 110 Retained earnings 63 106 Total liabilities and shareholders' equity 398 431 Sales revenues 1,245 Cost of goods sold (655) Depreciation expenses (98) (324) Net income 168 Other operating expenses During fiscal $153,000. Required:* I year 2021, Canbuild sold a piece of its equipment. The equipment sold had originally cost Determine the amount of cash collected from customers. Clearly show calculations for numbers that are not given (2 points). RECORDING 0:00:51 caused

Answer rating: 100% (QA)

To determine the amount of cash collected from customers we first need to calculate the change in ac... View the full answer