Harper Outdoor Furniture, Inc., has net cash flows from operating activities for the last year of $

Question:

Harper Outdoor Furniture, Inc., has net cash flows from operating activities for the last year of $ 340 million. The income statement shows that net income is $ 315 million and depreciation expense is $ 46 million. During the year, the change in inventory on the balance sheet was $ 38 million, the change in accrued wages and taxes was $ 15 million, and the change in accounts payable was $ 20 million. At the beginning of the year the balance of accounts receivable was $ 50 million. Calculate the end-of-year balance for accounts receivable.

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...