Case X: Compute cash received from customers Sales $ 790,000 Accounts receivable, Beginning balance 27,000 Accounts receivable, Ending balance 37,260 Compute cash paid for rent Rent expense Rent payable, Beginning balance Rent payable, Ending balance Compute cash paid for inventory Cost of goods sold Inventory, Beginning balance Accounts payable, Beginning balance Inventory, Ending balance Case Y: Case Z: $ 108,700 13,000 11,180 $ 465,000 144,150 60,543 118,203 75,073 Accounts payable, Ending balance 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.
Case X: Compute cash received from customers Sales $ 790,000 Accounts receivable, Beginning balance 27,000 Accounts receivable, Ending balance 37,260 Compute cash paid for rent Rent expense Rent payable, Beginning balance Rent payable, Ending balance Compute cash paid for inventory Cost of goods sold Inventory, Beginning balance Accounts payable, Beginning balance Inventory, Ending balance Case Y: Case Z: $ 108,700 13,000 11,180 $ 465,000 144,150 60,543 118,203 75,073 Accounts payable, Ending balance 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.
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter8: Internal Control And Cash
Section: Chapter Questions
Problem 5PEB
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