Question
1. Accounts receivable arising from sales to customers amounted to $120,000 and $51,000 at the beginning and end of the year, respectively. Income reported on
1. Accounts receivable arising from sales to customers amounted to $120,000 and $51,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $214,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is
a. $265,000
b. $283,000
c. $214,000
d. $145,000
2. Accounts receivable arising from sales to customers amounted to $33,000 and $50,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $122,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is
a. $122,000
b. $139,000
c. $105,000
d. $155,000
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Accounting and auditing research tools and strategies
Authors: Thomas Weirich, Thomas Pearson, Natalie Tatiana
8th edition
9781118806487, 1118027078, 1118806484, 978-1118027073
