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QUESTION 7 Balances of the current asset

Question : QUESTION 7 Balances of the current asset : 4491

QUESTION 7

Balances of the current asset and current liability accounts at the end and beginning of the year are as follows:

End

Beginning

Cash

$ 62,000

$73,000

Accounts receivable (net)

75,000

60,000

Inventories

54,000

47,000

Accounts payable

(merchandise creditors)

43,000

37,000

Salaries payable

2,800

3,800

Sales (on account)

210,000

Cost of merchandise sold

70,000

Operating expenses other than depreciation

67,000

Use the direct method to prepare the cash flows from operating activities section of a statement of cash flows.

Solution
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Solved
Finance 9 Months Ago 125 Views
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