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Case X: Compute cash received from customers Sales $ 580,000 Accounts receivable, Beginning balance 45,000 Accounts receivable, Ending balance 62,100 Case Y: Compute cash paid
Case X: | Compute cash received from customers | |
---|---|---|
Sales | $ 580,000 | |
Accounts receivable, Beginning balance | 45,000 | |
Accounts receivable, Ending balance | 62,100 | |
Case Y: | Compute cash paid for rent | |
Rent expense | $ 126,200 | |
Rent payable, Beginning balance | 12,450 | |
Rent payable, Ending balance | 9,960 | |
Case Z: | Compute cash paid for inventory | |
Cost of goods sold | $ 735,000 | |
Inventory, Beginning balance | 227,850 | |
Accounts payable, Beginning balance | 95,697 | |
Inventory, Ending balance | 186,837 | |
Accounts payable, Ending balance | 118,664 |
For each of the above three separate cases, use the information provided about the current-year operations of Sahim Company to compute the required cash flow information. Assume all purchases and sales of inventory are on credit
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