44000 56000 54500 61500

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Dhofar Company's income statement for 2020 is given
below. If Accounts receivable balances are 14000 in
2020 and 8000 in 2019. Which of the following is cash
collections from customers?
Sales
50,000
-COGS
30,000
Gross Profit
20,000
-Operating
8,000
Expenses
Operating Profit
-Interest Expense
12,000
2,000
Profit before Tax
10,000
-Tax
3,000
Net Profit
7,000
Select one:
a. 44000
Б. 56000
OC. 54500
d. 61500
Transcribed Image Text:Dhofar Company's income statement for 2020 is given below. If Accounts receivable balances are 14000 in 2020 and 8000 in 2019. Which of the following is cash collections from customers? Sales 50,000 -COGS 30,000 Gross Profit 20,000 -Operating 8,000 Expenses Operating Profit -Interest Expense 12,000 2,000 Profit before Tax 10,000 -Tax 3,000 Net Profit 7,000 Select one: a. 44000 Б. 56000 OC. 54500 d. 61500
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