3rd Edition

ISBN: 9781323761434

Author: Horngren

Publisher: PEARSON C

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Textbook Question

Chapter 16, Problem E16A.29E

Computing cash flow items—direct method
Learning Objective 4 Appendix 16A

Cash Receipts from Oust. $72,000

Consider the following facts:

Beginning and ending Accounts Receivable are $24,000 and $20,000, respectively. Credit sales for the period total $68,000.
Cost of goods sold is $77,000.
Beginning Merchandise Inventory balance is $29,000, and ending Merchandise Inventory balance is $26,000.
Beginning and ending Accounts Payable are $12,000 and $16,000, respectively.

Requirements

Compute cash collections from customers.
Compute cash payments for merchandise inventory.

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Chapter 16, Problem E16A.28E

Chapter 16, Problem E16A.30E

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Chapter 16 Solutions

ACCOUNTING PRINCIPLES V1 6/17 >C<

Ch. 16 - Prob. 1QC Ch. 16 - Prob. 2QC Ch. 16 - Prob. 3QC Ch. 16 - Prob. 4QC Ch. 16 - Prob. 5QC Ch. 16 - The Plant Assets account and Accumulated...Ch. 16 - Mountain Water Corp issued common stock of $28,000...Ch. 16 - Prob. 8QC Ch. 16 - Maxwell Furniture Center had accounts receivable...Ch. 16 - Prob. 10BQC

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