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problem 13 - A Operating activities amounts - direct method Question to Problem 4 is cash payments for merchandise? thanks for your help, I am
problem 13 - A Operating activities amounts - direct method Question to Problem 4 is "cash payments for merchandise?" thanks for your help, I am trying to see if I did these correctly. For 1) I got $710,000 For 2) I got $33,000 for 3) $9000 for 4) $401,000 Problem 13 - A Operating Activities Amounts - Direct Method Requirement: Calculate the following amounts. 1) Sales $700,000 Accounts Receivable 1/1 50,000 Accounts Receivable 12/31 40,000 Cash collections from customers? 2) Insurance Expense Prepaid Insurance 1/1 Prepaid Insurance 12/31 Cash payments for insurance? $30,000 7,000 10,000 $10,000 4,000 Interest Expense Interest Payable 1/1 Interest Payable 12/31 Cash payments for interest? 5,000 Cost of goods sold Merchandise Inventory 1/1 Merchandise Inventory 12/31 Accounts Payable 1/1 Accounts Payable 12/31 $400,000 22,000 20,000 10,000 7,000
problem 13 - A Operating activities amounts - direct method
Question to Problem 4 is "cash payments for merchandise?"
thanks for your help, I am trying to see if I did these correctly.
For 1) I got $710,000
For 2) I got $33,000
for 3) $9000
for 4) $401,000
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