Accounts receivable and the statement of cash flows

Assignment Help Accounting Basics

Reference no: EM13954150

Working Backward: Accounts Receivable and the Statement of Cash Flows

Troy Corp.'s statement of cash flows reported an addition of $2,000 for the change in the Accounts Receivable account during the year. Sales on account for the year amounted to $24,500.

Required:

Determine the cash collected on accounts receivable for the year.

Reference no: EM13954150

Questions Cloud

Consider a process with an upper spec limit : Consider a process with an upper spec limit of 69.5 grams, a lower spec limit of 62 grams, and a mean of 67 grams. If the standard deviation is 1 gram, is the process “capable”? If the standard deviation is 2 grams, is the process “capable”?

Florida statute still enforceable after the treaty : In 1992, Florida enacted a statute that required that all ocean-going ships leaving Florida ports for foreign destinations must place any containers with food in them on the bow of the ship, so that ship-related fumes would not get into the container..

Cash collections-direct method : Emily Enterprises' comparative balance sheets included accounts receivable of $224,600 at December 31, 2013, and $205,700 at December 31, 2014.

What is the pv work that is done on the system : What is the PV work that is done ON the system when 20J of PV work is done on the surroundings W(system).

Accounts receivable and the statement of cash flows : Troy Corp.'s statement of cash flows reported an addition of $2,000 for the change in the Accounts Receivable account during the year. Sales on account for the year amounted to $24,500.

Package used to estimate project cost and duration : How is the work package used to estimate project cost and duration? What type of estimation approach is being utilized when the work package is used for cost and resource estimates?

Explain the process to compute slack-float for an activity : Explain the process to compute slack/float for an activity, and how you can use slack/float to your advantage in managing a project

How many headbands should be ordered : A high school sell their footballs headbands for $0.50. Each headband costs the high school $0.20 to buy from the manufacture. The local recycling center will pay you $0.10 per headband that is unsold at the end of the day. Demand for the headbands f..

Describe at least three steps of the scope definition proces : Identify and describe at least three steps of the scope definition process. Why are these steps important to managers?

User Account

All Pages