HORNGREN'S FINANCIAL & MANGERIAL ACCOUNT
7th Edition
ISBN: 9780136505273
Author: MILLER-NOBLES
Publisher: PEARSON
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Chapter 14, Problem 9AQC
To determine
Statement of
Cash flows from operating activities: In this direct method, cash flow from operating activities is computed by using all cash receipts and cash payments during the year.
Cash Receipts: It encompasses all the cash receipts from sale of goods and on account receivable.
The following formula is used to calculate cash receipt from customers:
The amount of cash collected from customers.
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Students have asked these similar questions
The balance in Accounts Receivable was $650,000 at the beginning of the year and $770,000 at the end of the year. Credit sales
for the year totaled $4,120,000. During the year, $450,000 in customer accounts were written off. How much cash was collected
from customers during the period? A) $3,550,000 B) $4,000,000 C) $4,450,000 D) $4,690,000 10
The companys balance sheet showed an accounts receivble balance of $80,000 at the begininng of the year and $47,000 at the end of the year. The company reported $720,000 in credit sales for the year. What was the amount of cash collected on account receivables durig the year
The balance in Accounts Receivable at the beginning of the year was $520,000. The balance in Accounts Receivable at the end of the year was $780,000. Customer accounts of $420,000 were written off. The company collected $4,060,000 from credit customers and $1,010,000 from cash customers. What are credit sales for the year?
A) $4,740,000
B) $4,480,000
C) $4,060,000
D) $4,220,000
Chapter 14 Solutions
HORNGREN'S FINANCIAL & MANGERIAL ACCOUNT
Ch. 14 - The purposes of the statement of cash flows are to...Ch. 14 - The main categories of cash flow activities are a....Ch. 14 - Operating activities are most closely related to...Ch. 14 - Which item does not appear on a statement of cash...Ch. 14 - Leather Shop earned net income of 57,000 after...Ch. 14 - The Plant Assets account and Accumulated...Ch. 14 - Mountain Water Corp. issued common stock of 28,000...Ch. 14 - Prob. 8QCCh. 14 - Prob. 9AQCCh. 14 - If accrued liabilities increased during the year,...
Ch. 14 - Prob. 1RQCh. 14 - How does the statement of cash flows help users of...Ch. 14 - Describe the three basic types of cash flow...Ch. 14 - What types of transactions are reported in the...Ch. 14 - Prob. 5RQCh. 14 - Prob. 6RQCh. 14 - Explain why depreciation expense, depletion...Ch. 14 - Prob. 8RQCh. 14 - If current assets other than cash increase, what...Ch. 14 - If current liabilities increase, what is the...Ch. 14 - Prob. 11RQCh. 14 - Prob. 12RQCh. 14 - Prob. 13RQCh. 14 - Prob. 14RQCh. 14 - Prob. 15ARQCh. 14 - Prob. 16BRQCh. 14 - Describing the purposes of the statement of cash...Ch. 14 - Prob. 14.2SECh. 14 - Classifying items on the indirect statement of...Ch. 14 - Classifying cash flow items Consider the following...Ch. 14 - Prob. 14.17ECh. 14 - Prob. 14.18E
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