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Case X: Compute cash received from customers Sales $ 790,000 Accounts receivable, Beginning balance 27,000 Accounts receivable, Ending balance 37,260 Compute cash paid for rent Rent expense Rent payable, Beginning balance Rent payable, Ending balance Compute cash paid for inventory Cost of goods sold Inventory, Beginning balance Accounts payable, Beginning balance Inventory, Ending balance Case Y: Case Z: $ 108,700 13,000 11,180 $ 465,000 144,150 60,543 118,203 75,073 Accounts payable, Ending balance For each of the above three separate cases, use the information provided about the current-year operations of Sahim Company to compute the required cash flow information. Assume all purchases and sales of inventory are on credit.

Case X: Compute cash received from customers Sales $ 790,000 Accounts receivable, Beginning balance 27,000 Accounts receivable, Ending balance 37,260 Compute cash paid for rent Rent expense Rent payable, Beginning balance Rent payable, Ending balance Compute cash paid for inventory Cost of goods sold Inventory, Beginning balance Accounts payable, Beginning balance Inventory, Ending balance Case Y: Case Z: $ 108,700 13,000 11,180 $ 465,000 144,150 60,543 118,203 75,073 Accounts payable, Ending balance For each of the above three separate cases, use the information provided about the current-year operations of Sahim Company to compute the required cash flow information. Assume all purchases and sales of inventory are on credit.

FINANCIAL ACCOUNTING
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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Case X: Compute cash received from customers Sales Case Y: Case Z: $ 790,000 Accounts receivable, Beginning balance 27,000 Accounts receivable, Ending balance 37,260 Compute cash paid for rent Rent expense Rent payable, Beginning balance Rent payable, Ending balance Compute cash paid for inventory Cost of goods sold Inventory, Beginning balance Accounts payable, Beginning balance Inventory, Ending balance $ 108,700 13,000 11,180 $ 465,000 144,150 60,543 118,203 75,073 Accounts payable, Ending balance For each of the above three separate cases, use the information provided about the current-year operations of Sahim Company to compute the required cash flow information. Assume all purchases and sales of inventory are on credit.
Transcribed Image Text:Case X: Compute cash received from customers Sales Case Y: Case Z: $ 790,000 Accounts receivable, Beginning balance 27,000 Accounts receivable, Ending balance 37,260 Compute cash paid for rent Rent expense Rent payable, Beginning balance Rent payable, Ending balance Compute cash paid for inventory Cost of goods sold Inventory, Beginning balance Accounts payable, Beginning balance Inventory, Ending balance $ 108,700 13,000 11,180 $ 465,000 144,150 60,543 118,203 75,073 Accounts payable, Ending balance For each of the above three separate cases, use the information provided about the current-year operations of Sahim Company to compute the required cash flow information. Assume all purchases and sales of inventory are on credit.
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