General Accounting please provide answer Carey Enterprises, LLC had the following cash flows during August:CategoryCash paid for inventoryCash wages to employeesCash sales collectedAmount ($)$25,000$45,000$120,000Purchase of equipment for cash $50,000Proceeds from a bank loanRequired:$80,000Determine the net cash flow during August.

Step 1: Define Net Cash FlowNet Cash Flow is the total amount of cash generated or lost by a…

Answered: Carey Enterprises, LLC had the…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter7: Receivables And Investments

Section: Chapter Questions

Problem 7.17E

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Garden Gate, Inc. reported the following data in its August 31 annual report. Cash and cash equivalents $ 485,625 Cash flow from operations (630,000) Required: a. What is the company's "cash burn" per month? per month b. What is the company's ratio of cash to monthly cash expenses? Round your answer to one decimal place. months
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Serven Corporation has estimated its accrual-basis revenue and expenses for June 20X1 and would like your help in estimating cash disbursements. Selected data from these estimated amounts are as follows: Sales $ 700,000 Gross profit (as a percent of sales) 30 % Increase in trade accounts receivable for the month $ 20,000 Change in accounts payable during month 0 Increase in inventory during month $ 10,000 Variable selling, general, and administrative expenses include a charge for uncollectible accounts of 1% of sales. Total selling, general, and administrative expenses are $71,000 per month plus 15% of sales. Depreciation expense of $40,000 per month is included in fixed selling, general, and administrative expense. Required: On the basis of the preceding data, what are the estimated cash disbursements from operations for June 20X1?
Please given correct answer general accounting
The companys balance sheet showed an accounts receivble balance of $80,000 at the begininng of the year and $47,000 at the end of the year. The company reported $720,000 in credit sales for the year. What was the amount of cash collected on account receivables durig the year
Forest Company had the following transactions during the month of December. What is theDecember 31 cash balance?
General accounting question
Considering the financial statement information below for the The C’mon Cam! Co., how long is the cash cycle? Item Beginning EndingInventory $9,338 $11,550Accounts Receivable 5,670 6,947Accounts Payable 7,689 9,625 Net Sales $82,544Cost of Goods Sold $58,638 a. 28 daysb. 39 daysc. 65 daysd. 93 days
Use the following information and prepare an Income Statement (to calculate the net profit) and a Statement of Cash Flows (identify each payment separately) for the month. Identify 2 causes for the difference between net profit and cash flow from operating activities. Describe what the Cash Flow Statement reveals. Bank balance beginning of month 15,600 Inventory purchased for cash 28,000 Bank balance, end of month 19,800 Miscellaneous expenses paid 8,000 Cash drawings 30,000 Payment on accounts payable 44,000 Cash sales 72,000 Proceeds from bank loan 93,000 Collections from accounts receivable 40,000 Proceeds from sale of motor vehicle 12,000 Cost of sales 69,000 Purchase of motor vehicle for cash 68,000 Credit sales 58,000 Rent expense 800 Depreciation 3,500 Rent paid in advance for the next 6 months 4,800 Wages paid 30,000
Cash Received from Customers—Direct Method Sales reported on the income statement were $225,000. The accounts receivable balance decreased $14,300 over the year. Determine the amount of cash received from customers.$
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