Answered step by step
Verified Expert Solution
Question
1 Approved Answer
26. In 2022 net sales were $400,000. During 2022 accounts receivable decreased by $50,000. How much money did the company charge its customers? a. $400,000b,5450,000$350,000
26. In 2022 net sales were $400,000. During 2022 accounts receivable decreased by $50,000. How much money did the company charge its customers? a. $400,000b,5450,000$350,000 d. CANNOT be determined without additional information 27. The Statemept of Income and Expenses of L.a Empresa Mayor presented in 2022 a net loss of $150,000. The amount of depreciation and amortization for 2022 was $40,000. The company presents the operational activities in the EFE using the indirect method. Assuming all adjustments other than depreciation and amortization have a positive net balance of $125,000, how much cash is provided (inflow) or used (outflow) by operating activities? a. $315,000 provided b. $15,000 provided c. $165,000 provided di 565,000 used 28. A company collected $40,000 in dividends and paid its shareholders $70,000 in dividends. The company uses the direct method for operational activities. How do you present this information? a. $40,000 in openting activities and $70,000 in financing activities b. $40,000 in investing activities and $70,000 in financing activities c. $40,000 in investing activities and $70,000 in operating activities d. $30,000 net in operating activities
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started