Homework Answers
Calculation of cash transactions :-
Cash receipts from customers = Sales revenue + beginning account receivable - ending account receivable
= 175,000 + 16,000 - 7,000 = $184,000
Cash paid for salary and wages = Salary expense + beginning salaries payable - ending salaries payable
= 54,000 + 10,000 - 8,000 = $56,000
Cash paid for rent expense = Rent expense + ending prepaid rent - beginning prepaid rent
= 48,000 + 9,000 - 5,900 = $51,100
Cash flows from operating activities:-
| Cash Receipts | |
| From customers | 184,000 |
| Cash Payments | |
| To Rent | 51,100 |
| To salary and wages | 56,000 |
| Net cash flows from operating activities | $76,900 |
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