7-xavier_solution

7-xavier_solution - CASE XAVIER METALS COMPANY - SOLUTION...

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CASE XAVIER METALS COMPANY - SOLUTION 1. Cash collected from accounts receivable: Accounts receivable, beginning balance. ............................ $ 254,000 Sales in 2005. .......................................................................... 3,561,000 Total collectible accounts. ..................................................... $ 3,815,000 Less: Accounts receivable, ending balance. ....................... 312,000 Cash collected in 2005. .......................................................... $ 3,503,000 2. Cash paid on accounts payable: Inventory, ending balance. ..................................................... $ 278,000 Add: Cost of goods sold in 2005. .......................................... 2,789,000 Total goods available in 2005. ............................................... $ 3,067,000 Less: Inventory, beginning balance. ..................................... 239,000 Inventory purchases in 2005. ................................................. $ 2,828,000 Accounts payable, beginning balance. ................................. $ 198,000
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7-xavier_solution - CASE XAVIER METALS COMPANY - SOLUTION...

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