Computing the amounts for cash flows statement, Financial Accounting

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Computing the amounts for cash flows statement

Compute amounts for the statement of cash flows-direct method

Response to the following problem:

Compute the following items for the statement of cash flows:

a. Beginning and ending Accounts Receivable are $47,000 and $53,000, respectively. Credit sales for the period total $141,000. How much are cash collections from customers?

b. Cost of Goods Sold is $76,000. Beginning Inventory balance is $39,000, and Ending Inventory balance is $35,000. Beginning and ending Accounts Payable are $29,000 and $32,000, respectively. How much are cash payments for inventory?

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Financial Accounting: Computing the amounts for cash flows statement

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