Case X: Compute cash received from customers Sales $ 790,000 Accounts receivable, Beginning balance 27,000 Accounts receivable, Ending balance 37,260 Compute cash paid for rent Rent expense Rent payable, Beginning balance Rent payable, Ending balance Compute cash paid for inventory Cost of goods sold Inventory, Beginning balance Accounts payable, Beginning balance Inventory, Ending balance Case Y: Case Z: $ 108,700 13,000 11,180 $ 465,000 144,150 60,543 118,203 75,073 Accounts payable, Ending balance For each of the above three separate cases, use the information provided about the current-year operations of Sahim Company to compute the required cash flow information. Assume all purchases and sales of inventory are on credit.

Case X: Compute cash received from customers Sales $ 790,000 Accounts receivable, Beginning balance 27,000 Accounts receivable, Ending balance 37,260 Compute cash paid for rent Rent expense Rent payable, Beginning balance Rent payable, Ending balance Compute cash paid for inventory Cost of goods sold Inventory, Beginning balance Accounts payable, Beginning balance Inventory, Ending balance Case Y: Case Z: $ 108,700 13,000 11,180 $ 465,000 144,150 60,543 118,203 75,073 Accounts payable, Ending balance For each of the above three separate cases, use the information provided about the current-year operations of Sahim Company to compute the required cash flow information. Assume all purchases and sales of inventory are on credit.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 2PA: To demonstrate the difference between cash account activity and accrual basis profits (net income),...

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