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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
Pastel Paints Company uses the direct method for preparing its statement of cash flow. Pastel reports the following information regarding 2017:

From the income statement:
Sales Revenues, $267,000
Cost of Goods Sold, $210,000
Operating Expenses, $37,000

From the balance sheet:

   Beginning Balance   Ending Balance
Accounts Receivable   $14,500   $18,300
Merchandise Inventory   23,500   17,800
Accounts Payable   6,100   13,800
Accrued Liabilities   4,700   1,800

What amount will be shown for collections from customers?
A) $32,800
B) $267,000
C) $270,800
D) $263,200
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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7 years ago
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H3Ko Author
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#2
7 years ago
I just realized you had posted this! Thanks so much
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#3
4 years ago
Thank you
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