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Case X: Compute cash received from customers Sales $ 670,000 Accounts receivable, Beginning balance 26,000 Accounts receivable, Ending balance 35,880 Case Y: Compute cash paid
Case X: | Compute cash received from customers | |
---|---|---|
Sales | $ 670,000 | |
Accounts receivable, Beginning balance | 26,000 | |
Accounts receivable, Ending balance | 35,880 | |
Case Y: | Compute cash paid for rent | |
Rent expense | $ 112,400 | |
Rent payable, Beginning balance | 8,200 | |
Rent payable, Ending balance | 7,052 | |
Case Z: | Compute cash paid for inventory | |
Cost of goods sold | $ 464,000 | |
Inventory, Beginning balance | 143,840 | |
Accounts payable, Beginning balance | 60,413 | |
Inventory, Ending balance | 117,949 | |
Accounts payable, Ending balance | 74,912 |
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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