Welcome to Westonci.ca, the place where your questions find answers from a community of knowledgeable experts. Explore our Q&A platform to find reliable answers from a wide range of experts in different fields. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.
Sagot :
Answer:
Case X: Cash received from customers $866,320
Case Y: Cash paid for rent $145,490
Case Z: Cash paid for Inventory $461,954
Explanation:
Compute for the required cash flow :
Case X:
Sales revenue $880,000
Add Accounts receivable, Beg. bal $36,000
Less Accounts receivable, End. bal($49,680)
Cash received from customers $866,320
Case Y:
Rent expense $144,500
Add Rent payable, Beg. bal $8,250
Less Rent payable, End. bal ($7,260)
Cash paid for rent $145,490
Case Z:
Cost of goods sold$ $506,000
Add Inventory, End. bal $128,625
Less Inventory, Beg. ($156,860)
Cost of goods purchased $477,765
($506,000+$128,625-$156,860)
Less increase in accounts payable($15,811)
($81,692-$65,881)
Cash paid for Inventory $461,954
($477,765-$15,811)
Therefore the required cash flow for the three cases are:
Case X: Cash received from customers $866,320
Case Y: Cash paid for rent $145,490
Case Z: Cash paid for Inventory $461,954
Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.