Need help with this financial accounting question Baron Consulting Inc. began 2022 with Accounts Receivableof $720,000. Service revenue, all on account, for the yeartotalled $3,150,000. Baron ended the year with AccountsReceivable of$750,000. Baron's bad-debt lossesnonexistent.areHow much cash did Baron Consulting Inc. collect fromcustomers in 2022?

Step 1: Define Cash Collections from CustomersCash Collections from Customers represent the actual…

Answered: Baron Consulting Inc. began 2022 with…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 12EB: Clovis Enterprises reports $845,500 in credit sales for 2018 and $933,000 in 2019. It has a $758,000...

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Naples Inc. reported sales of $2.16 million for 2022. Accounts receivable decreased $180,000 and accounts payable increased $254,000. Compute cash receipts from customers, assuming that the receivable and payable transactions are related to operations.
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Molino Inc. reported sales revenue of $2 million for 2020. Accounts receivable decreased $200,000 and accounts payable increased $300,000. Compute cash receipts from customers, assuming that the receivable and payable transactions related to operations.
In 2021, Johnson Controls reported the following accounting items (in millions of dollars): Sales = $50 Cash Expenses = $30 Depreciation = $51 Interest Paid = $3T axes = $1 Dividends Paid = $3 Capital Expenditures = $8 What were the firm's Free Cash Flows in 2021? (Note: Enter your answer without the millions or the dollar sign, so if you think the answer is $5 million, just enter 5)
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← Computer Experts, Inc., ended 2019 with cash of $30,000. During 2020, Computer Experts earned net income of $120,000 and had adjustments to reconcile net income to net cash provided by operations totalling $22,000 (this is a negative amount). Computer Experts purchased equipment for $352,000 during 2020 and had to borrow half of this amount on a long-term note. During the year, the company paid dividends of $11,000 and sold old equipment, receiving cash of $89,000. Prepare Computer Experts's statement of cash flows with its appropriate heading for the year ended December 31, 2020. Prepare the statement of cash flows for Computer Experts Inc. (Use a minus sign or parentheses when subtracting numbers and for cash outflows.)
Please solve this question general accounting
At year-end 2021, total assets for Arrington Inc. were $1.7 million and accounts payable were $350,000. Sales, which in 2021 were $2.60 million, are expected to increase by 25% in 2022. Total assets and accounts payable are proportional to sales, and that relationship will be maintained; that is, they will grow at the same rate as sales. Arrington typically uses no current liabilities other than accounts payable. Common stock amounted to $405,000 in 2021, and retained earnings were $285,000. Arrington plans to sell new common stock in the amount of $160,000. The firm's profit margin on sales is 5%; 50% of earnings will be retained. a. What were Arrington's total liabilities in 2021? Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest cent. b. How much new long-term debt financing will be needed in 2022? (Hint: AFN - New stock = New long-term debt.) Write out your answer completely. For example, 25 million should be…
During 2020, Acadia, Incorporated, earned net income of $660,000. The ﬁrm increased its accounts receivable during the year by $215,000. The book value of its assets declined by an amount equal to the year’s depreciation charge, or $86,000, and the market value of its assets increased by $39,000. Based only on this information, how much cash did Acadia generate during the year? Please ignore taxes for this problem. 1. Accounting Income= 2. Depreciation (a non cash charge)= 3. Increase in accounts receivable= 4. Cash generated=
I want to correct answer general accounting question
— Your answer is partially correct. In 2020, Pronghorn Corporation reported a net loss of $67,800. Pronghorn's only net income adjustments were depreciation expense $77,900, and increase in accounts receivable $7,700. Compute Pronghorn's net cash provided (used) by operating activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash provided ✓by operating activities $ 3420
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