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In each of the following cases, use the information provided about the 2020 operations of Prestige Water Corp. to calculate the indicated cash flow: (Amounts
In each of the following cases, use the information provided about the 2020 operations of Prestige Water Corp. to calculate the indicated cash flow: (Amounts to be deducted should be listed as negative amounts.) Case A: $307,000 15,140 20,890 Case B : Calculate cash received from customers: Sales revenue Accounts receivable, January 1 Accounts receivable, December 31 Calculate cash paid for insurance: Insurance expense Prepaid insurance, January 1 Prepaid insurance, December 31 Calculate cash paid for salaries: Salaries expense Salaries payable, January 1 Salaries payable, December 31 $ 41,060 6,860 10,270 Case C: $122,600 7,570 10,000 Case A PRESTIGE WATER CORP. Statement of Cash Flows Sales revenue Accounts receivable, December 31 Accounts receivable, January 1 Case B: Cash receipts from customers Insurance expense Prepaid insurance, December 31 Prepaid insurance, January 1 Case C Cash paid for insurance Salaries expense Salaries payable, December 31 Salaries payable, January 1 Cash paid for salaries
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