Reference no: EM13257509
Use the information provided in each of the following independent situations to answer the questions. For each situation, briefly explain the reasoning behind each of your calculations.
a. Net cash flow from operations for a period was $30,000; Noncash revenues for the period were $11,000. Noncash expenses forthe period were $13,200. What was net income for the period
b. Wages expense for a period was $69,000. Wages payable increased during the period by $10,500. How much cash was paid to employees during the period?
c. Cash collected from customers for a fiscal period was $224,500. Sales revenue for the period was $241,000. Accounts receivable at the beginning of the period was $36,000. What was the balance in accounts receivable at the end of the period?
d. Net income for a period was $45,000. Current assets increased during the period by $7,500. Current liabilities increased during the period by $10,000. How much was cash flow fromoperations for the period?
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