Requirements Compute the following items for the statement of cash flows: a. $28

Question

Requirements

Compute the following items for the statement of cash flows:

a.

$28,000 and $26,000,

b.

Requirement a. Beginning and ending Accounts Receivable are $28,000

and $26,000, respectively. Credit sales for the period total $60,000.

How much are cash collections from customers?

Cash collections from customers are $___

.

a.

Beginning and ending Accounts Receivable are

$28,000 and $26,000,

respectively. Credit sales for the period total $60,000.
How much are cash collections fromcustomers?

b.

Cost of Goods Sold is $77,000.
Beginning Inventory balance is $25,000,
and Ending Inventory balance is $30,000.
Beginning and ending Accounts Payable are $16,000
and $11,000, respectively. How much are cash payments for inventory?

Explanation / Answer

a Cash collections from customers=60000+28000-26000 = $62000 b Cash payments for inventory = 77000-25000+30000+16000-11000= 87000

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