Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A company reported annual sales revenue of $2.772,000. During the year, accounts receivable decreased from a $102,000 beginning balance to a $69,600 ending balance How
A company reported annual sales revenue of $2.772,000. During the year, accounts receivable decreased from a $102,000 beginning balance to a $69,600 ending balance How much cash was received from customers for the year? Select one O A. $2.804,400 B. $3,036.600 O C. $3,003,000 O D.$33,600 O E. None of the above A company reported cost of goods sold of $826,800 for the year. During the year, inventory increased from a $180,000 beginning balance to a $216,000 ending balance, and accounts payable increased from a $56,400 beginning balance to a $66,000 ending balance. How much cash was paid for merchandise purchased during the year? Select one 0 A. $826,800 O B. $800,400 C. $945,100 D. $853,200 0 E. None of the above A firm sold property, plant and equipment for cash proceeds of $4,200. The equipment originally cost $8,160. The company recorded a loss on sale of $2.520. The company uses the indirect method to prepare its statement of cash flows. Which of the following amounts would be included in cash from operations and cash from investing respectively? Select one: $2.520 and $3.300 B. $4.200 and $2.520 C.$2.520 and $4,200 D. $2.520 and $0 E. None of the above 0 0 0
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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