For each of the following three separate cases, use the information provided about the calendar-year 2008 operations
Question:
For each of the following three separate cases, use the information provided about the calendar-year 2008 operations of Alberto Company to compute the required cash flow information.
Case A: Compute cash received from customers:
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $515,000 Accounts receivable, December 31, 2007 . . . . . . . . . 27,200 Accounts receivable, December 31, 2008 . . . . . . . . . 33,600 Case B: Compute cash paid for rent:
Rent expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $139,800 Rent payable, December 31, 2007 . . . . . . . . . . . . . . 7,800 Rent payable, December 31, 2008 . . . . . . . . . . . . . . 6,200 Case C: Compute cash paid for merchandise:
Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . $525,000 Merchandise inventory, December 31, 2007 . . . . . . . 158,600 Accounts payable, December 31, 2007 . . . . . . . . . . . 66,700 Merchandise inventory, December 31, 2008 . . . . . . . 130,400 Accounts payable, December 31, 2008 . . . . . . . . . . . 82,000.AppendixLO1
Step by Step Answer:
Financial Accounting Information For Decisions
ISBN: 9780073043753
4th Edition
Authors: John J. Wild