Reference no: EM132873391
Calculate the cash sources or cash uses that should be recognized on the statement of cash flows for Baldin Co. for the year ended December 31, 2019:
Required:
Problem a) Sales on account (all are collectible) amounted to $764,000, and accounts receivable decreased by $24,000. How much cash was collected from customers?
Problem b) Income tax expense for the year was $137,000, and income taxes payable decreased by $39,200. How much cash was paid for income taxes?
Problem c) Cost of goods sold amounted to $407,000, accounts payable increased by $18,900, and inventories increased by $14,600. How much cash was paid to suppliers?
Problem d) The net book value of buildings increased by $241,000. No buildings were sold, and depreciation expense for the year was $182,000. How much cash was paid to purchase buildings?
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