Kingbird Import Company had credit sales of $1824000. The beginning accounts receivable balance was $188000 and the ending accounts receivable balance was $319000. Using the direct method of reporting cash flows from operating activities, what were the cash collections from customers during the period? O $2069000. Ⓒ$1824000. O $2012000. $1402000

Kingbird Import Company had credit sales of $1824000. The beginning accounts receivable balance was $188000 and the ending accounts receivable balance was $319000. Using the direct method of reporting cash flows from operating activities, what were the cash collections from customers during the period? O $2069000. Ⓒ$1824000. O $2012000. $1402000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Munster Company reports the following net cash in its statement of cash flows: net inflow from operating activities: $200; net outflow from investing activities: $300; net outflow from financing activities: $50. The ending balance in cash is $20; the beginning balance must have been Multiple choice question. $190. $210. $150. $170.
Ma1.
While examining cash receipts information, the accounting department determined the following information: opening cash balance $162, cash on hand $1,215.80, and cash sales per register tape $1,067.71. Prepare a tabular analysis of the required adjustment based upon the cash count sheet. (Ifa transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to 2 decimal places, e.g. 52.75.) Assets Liabilities Stockholders' Equity Cash Revenues Expenses
i need the answer quickly
(1) Use the information below to compute the days in the cash conversion cycle for each company. (2) Which company is more effective at managing cash based on this measure? Days' sales in accounts receivable Days' sales in inventory Days' payable outstanding Required 1 Required 2 Sparta Company 36 22 29 Complete this question by entering your answers in the tabs below. Cash conversion cycle Athens Company 49 26 34 Use the information below to compute the number of days in the cash conversion cycle for each company. Sparta Athens Company Company
provide a solution.
The following selected account balances appeared on the financial statements of Washington Company: Accounts Receivable, January 1 Accounts Receivable, December 31 Accounts Payable, January 1 Accounts Payable, December 31 $14,013 6,449 5,841 7,294 10,420 15,188 Sales 62,580 Cost of Merchandise Sold 36,279 Washington Company uses the direct method to calculate net cash flow from operating activities. Cash payments for merchandise were Merchandise Inventory, January 1 Merchandise Inventory, December 31 a. $42,500 Ob. $30,058 c. $39,594 Od. $65,895 Check My Work 1 more Check My Work uses remaining. Previous
Use the following excerpts from Brownstone Company's financial statements and complete the worksheet below to determine cash received from customers in 2018. From Balance Sheets Accounts Receivable Dec. 31, 2018 $ 25,000 Dec. 31, 2017 $20,000 2018 220,000 From Income Statement: Sales PLEASE NOTE: You are to follow the format shown in the textbook. Cash Collected from Sales Revenue [ Select ] [ Select ] [ Select ] [ Select ] [ Select ] [ Select ] [ Select ] [ Select ] [ Select ] [ Select ]
Deduce the missing amounts and prepare the income statement.
Ee.77.
Lino Company’s worksheet for the preparation of its 20X1 statement of cash flows included the following information: Dec31 Jan 1 Accounts receivable 29,000 $ 23,000 Allowance for uncollectible accounts 1,000 800 Prepaid rent expense 8,200 12,400 Accounts payable 22,400 19,400 Lino’s 20X1 net income is $150,000. Required: What amount should Lino include as net cash that is provided by operating activities in the statement of cash flows?
(Determining Cash Balance) Presented below are a number of independent situations.InstructionsFor each individual situation, determine the amount that should be reported as cash. If the item(s) is not reported as cash,explain the rationale. 1. Checking account balance $925,000; certificate of deposit $1,400,000; cash advance to subsidiary of $980,000; utility depositpaid to gas company $180.2. Checking account balance $600,000; an overdraft in special checking account at same bank as normal checking account of$17,000; cash held in a bond sinking fund $200,000; petty cash fund $300; coins and currency on hand $1,350.3. Checking account balance $590,000; postdated check from customer $11,000; cash restricted due to maintaining compensating balance requirement of $100,000; certified check from customer $9,800; postage stamps on hand $620.4. Checking account balance at bank $37,000; money market balance at mutual fund (has checking privileges) $48,000; NSF check received from customer…