what were the cash collections from customers during the period?
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Skysong, Inc. had credit sales of $1312000. The beginning accounts receivable balance was $135000 and the ending accounts receivable balance was $230000. Using the direct method of reporting
$1312000.
$1447000.
$1217000.
$1487000.
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- Smoltz Company reported the following information for the current year: cost of goods sold, $252,500; increase in inventory, $21,700; and increase in accounts payable, $12,200. What is the amount of cash paid to suppliers that Smoltz would report on its statement of cash flows under the direct method? a. $218,600 c. $262,000 b. $243,000 d. $286,400To demonstrate the difference between cash account activity and accrual basis profits (net income), note the amount each transaction affects cash and the amount each transaction affects net income. A. issued stock for cash $20,000 B. purchased supplies inventory on account $1,800 C. paid employee salaries; assume it was current days expenses $950 D. paid note payment to bank (principal only) $1,200 E. collected balance on accounts receivable $4,750Kingbird 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? $2069000. $1824000. $2012000. O $1693000. OO
- The balance in Accounts Receivable at the beginning of the period amounted to $2,880. During the period $9,440 of credit sales were made to customers balance in Accounts Receivable amounted to $1,880, and uncollectible accounts expense amounted to $800, then the amount of cash inflow from customers appear in the operating activities section of the cash flow statement would be Multiple Choice $9.640 $9,440 $12.120 Nore of these answers are correct bIn reviewing the Accounts Receivable, the Net Cash Realizable Value is __ before a write off of $1500. What is the Net Cash Realizable Value after the write off?a. $16,000b. $1500c. $17300d. $14500Calculate cash balances based on the information provided in the chart below and show me how you did it Pro Forma Cash Flow Cash Received Cash from Operations Cash Sales $24,198 $100,099 $122,460 Cash from Receivables $46,108 $217,218 $342,905 Subtotal Cash from Operations $70,306 $317,317 $465,366 Additional Cash Received Sales Tax, VAT, HST/GST Received $0 $0 $0 New Current Borrowing $0 $0 $0 New Other Liabilities (interest-free) $0 $0 $0 New Long-term Liabilities $0 $40,000 $0 Sales of Other Current Assets $0 $0 $0 Sales of Long-term Assets $0 $0 $0 New Investment Received $0 $0 $0 Subtotal Cash Received $70,306 $357,317 $465,366 Expenditures Year 1 Year 2 Year 3 Expenditures from Operations Cash Spending $167,000 $225,200 $229,200 Bill Payments $75,294 $124,114 $152,785 Subtotal Spent on Operations $242,294 $349,314 $381,985 Additional Cash Spent Sales Tax,…
- Matilda Company financial statement information has given in the following table.ItemBeginningEndingInventory17831965Accounts Payable25602820Accounts Receivables49204200Revenue12500Cost of sales9500Required:Based on the financial statement information above, calculate the operating and cash cycle.Han's Supplies's bank statement contained a $430 NSF check that one of its customers had written to pay for supplies purchased. Required: a. Show the effects of recognizing the NSF check on the financial statements by recording the appropriate amounts in a horizontal financial statements model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). b. Suppose the customer redeems the check by giving Han $290 cash in exchange for the bad check. The additional $20 paid a service fee charged by Han. Show the effects on the financial statements. c. Is the recognition of the NSF check on Han's books an asset source, use, or exchange transaction? d. Select which of the following is the correct answer. Complete this question by entering your answers in the tabs below. Req A and C Req B Reg D a. Show the effects of recognizing the NSF check on the financial statements by recording the…The actual cash received from the day’s cash sales was $27,214, and the amount indicated by the cash register total was $27,236. a. What is the amount deposited in the bank for the day's sales?$fill in the blank 1 b. What is the amount recorded for the day's sales?$fill in the blank 2 c. How should the difference be recorded? of $fill in the blank 4 should be recorded as d. If a cashier is consistently over or short, what action should be taken?
- Prepare the summary entries necessary to determine the amount of cash received from customers for each of the four independent situations below. Situation Sales revenue Accounts receivableIncrease (Decrease) Cash receivedfrom customers 1 $ 220,000 $ 10,200 ? 2 220,000 (10,200 ) ? 3 110,000 (15,200 ) ? 4 110,000 15,200 ?The term cash as used on the statement of cash flows includes all the following EXCEPT: A) cash due from customers within 30 days. B) cash on hand. C) cash equivalents. D) cash in bank Which of the following statements accurately describes the statement of cash flows? A) It shows the relative proportion of debt and assets. B) It shows the link between accrual-based income and the cash reported on the balance sheet. C) It indicates when long-term debt will mature. D) It shows the link between book income and earnings per share. Which of the following is NOT a true statement about the statement of cash flows? A) It shows where cash came from and how it was spent. B) It reports why cash increased or decreased. C) It covers a specific span of time the same as the income statement. D) It shows how the profits or losses of the company were generated. Which one of the following is a principal function of the statement of cash flows? A) To predict future net income B) To…Use the image for the following question: Q1. Honesty & Co. What is the adjusted cash amount of cash receipts during OctoberA. 760,650B. 772,150C. 779,650D. 789,650 Q2. Honesty & Co. What is the adjusted amount of disbursements per bank during October? A. 624,700B. 605,700C. 633,200D. 615,700 Q3. Honesty & Co. What is the adjusted cash balance as of September 30, 2021? A. 3,000B. 2,500C. None of the optionsD. 2,000 Q4. Honesty & Co. What is the unadjusted amount of cash receipts per bank during October? A. 789,650B. None of the optionsC. 780,450D. 790,450 Q5. Honesty & Co. What is the unadjusted amount of cash disbursements per book during October? A. None of the optionsB. 640,300C. 630,300D. 633,200
