Information related to various financial statement elements is provided for two cases: Case A Operating expenses were
Question:
Information related to various financial statement elements is provided for two cases:
Case A Operating expenses were $500,000. Inventory increased by $72,000, accounts payable increased by $50,000, and prepaid rent decreased by $16,000.
Case B Sales revenue was $1,350,000. Accounts receivable decreased by $75,000 and unearned revenue increased by $46,000 during the year.
Required:
For each case, calculate the cash inflow or outflow related to the revenue or expense account.
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Related Book For
Intermediate Accounting Volume 1
ISBN: 9781260306743
7th Edition
Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod Dick
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