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The financial statements of New World, Inc., provide the following information for the current year: Dec. 31 Jan. 1 Accounts receivable $ 291,000 $ 421,500
The financial statements of New World, Inc., provide the following information for the current year:
Dec. 31 | Jan. 1 | |
Accounts receivable | $ 291,000 | $ 421,500 |
Inventory | $ 285,000 | $ 270,000 |
Prepaid expenses | $ 74,400 | $ 72,000 |
Accounts payable (for merchandise) | $ 264,300 | $ 257,550 |
Accrued expenses payable | $ 66,150 | $ 81,450 |
Net sales | $ 3,187,500 | |
Cost of goods sold | $ 1,681,500 | |
Operating expenses (including depreciation of $67,000) | $ 385,500 |
Compute the amount of cash received from customers during the current year. |
$3,344,700.
$3,318,000.
$3,187,500.
$3,194,250.
Compute the amount of New World's cash payments for purchases of merchandise during the current year. |
$1,689,750.
$1,544,250.
$3,195,750.
$1,673,250.
Compute the amount of New World's cash payments for operating expenses. |
$336,200.
$333,800.
$320,900.
$403,200.
New World's net cash flow from operating activities for the current year is: |
$1,628,250.
$1,292,050.
$1,625,850.
$1,359,050.
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