Presented below is a partial balance sheet for XYZ Company. Please indicate whet

Question

Presented below is a partial balance sheet for XYZ Company. Please indicate whether the change in account balance from one year to the next would be a source or a use of funds. Show the dollar amount, and show a source as a positive number and a use as a negative number. $ Source or (SUse) 2. Pre-paid rent 3. Pre-paid insurance 4. Inventory 5. Accounts payable 6. Wages payable 7. Taxes payable 2xx1 1. Accounts Receivable, net $500 $400 $250 $600 $125 $350 $175 2xx2 $200 $500 $150 $800 $225 $250 $225

Explanation / Answer

XYZ Company 1 Accounts receivable $   300.00 2 Prepaid rent $ (100.00) 3 prepaid insurance $   150.00 4 invenotory $ (200.00) 5 Accounts payable $   100.00 6 wages payable $ (100.00) 7 taxes payable $      50.00

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