Rachel's Recordings reported net income of $280,000. Beginning balances in Accounts Receivable and Accounts Payable were $17,000 and $22,000 respectively. Ending balances in these accounts were $13,500 and $30,000, respectively. Assuming that all relevant information has been presented, Rachel's net cash flows from operating activities would be:

Rachel's Recordings reported net income of $280,000. Beginning balances in Accounts Receivable and Accounts Payable were $17,000 and $22,000 respectively. Ending balances in these accounts were $13,500 and $30,000, respectively. Assuming that all relevant information has been presented, Rachel's net cash flows from operating activities would be:

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 7RE: Tifton Co. had the following cash transactions during the current year: Refer to the information in...

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Sanders, Inc. reported net income of S205. Beginning and ending balances of accounts receivable were S40 and S45, respectively. Accounts payable balances at the beginning and ending ofthe year were S35 and S33, respectively. Assuming all relevant information has been presented, Sanders should report net operating cash flows of:
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n Year 1, Expert Electronics, Incorporated (EEI) recognized $6,500 of sales revenue on account and collected $3,900 of cash from accounts receivable. Further, EEI recognized $2,700 of operating expenses on account and paid $1,600 cash as partial settlement of accounts payable.RequiredBased on this information alone:a. Prepare the operating activities section of the statement of cash flows under the direct method. b. Prepare the operating activities section of the statement of cash flows under the indirect method.
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