ACC311 CashFlows_problems Solutions with marks

ACC311 CashFlows_problems Solutions with marks - $2,100....

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Examples Al’s Pizzeria begins the quarter with interest payable of $550 and ends the quarter with interest payable of $625. Interest expense for the quarter is $2,400. How much cash was paid for interest during the quarter? Interest Payable
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Examples Don’s Liquor Store starts with an A/P balance of $1,200 and $1,900 of inventory. At year end, A/P is $900 and inventory is
Background image of page 2
Background image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: $2,100. COGS was $8,400 during the year. How much cash was paid for A/P this year? = 8900 Inventory Accounts Payable Examples Emerys Auto Shop starts with A/R of $9K. At year end, A/R is $11K. Credit sales totaled $97K for the year. How much cash does Emery collect during the year from credit sales? Accounts Receivable...
View Full Document

Page1 / 3

ACC311 CashFlows_problems Solutions with marks - $2,100....

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online