Kephlee is an amusement park operator and provided the following select financial data: ($ in millions) December 31, 2020 Revenue $121.5 Cash proceeds from the sale of a merry go round $15.4 Cash flows from operations $121.4 December 31, 2019 December 31, 2020 Accounts receivable 95.4 123.5 Deferred revenue 34.6 45.6 Based on the information provided, what were cash sales during 2020? A. $136.9 B. $119.8 C. $104.4 D. $93.4 E. $82.4

Kephlee is an amusement park operator and provided the following select financial data: ($ in millions) December 31, 2020 Revenue $121.5 Cash proceeds from the sale of a merry go round $15.4 Cash flows from operations $121.4 December 31, 2019 December 31, 2020 Accounts receivable 95.4 123.5 Deferred revenue 34.6 45.6 Based on the information provided, what were cash sales during 2020? A. $136.9 B. $119.8 C. $104.4 D. $93.4 E. $82.4

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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($ in millions)	December 31, 2020
Revenue	$121.5
Cash proceeds from the sale of a merry go round	$15.4
Cash flows from operations	$121.4

	December 31, 2019	December 31, 2020
Accounts receivable	95.4	123.5
Deferred revenue	34.6	45.6

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