Net income for a period was 45000 current assetsincreased

Reference no: EM13614214

Use the information provided in each of the followingindependent situations to answer the questions. For each situation,briefly explain the reasoning behind each of yourcalculations.

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 theperiod?

b. Wages expense for a period was $69,000. Wages payableincreased during the period by $10,500. How much cash was paid toemployees during the period?

c. Cash collected from customers for a fiscal period was$224,500. Sales revenue for the period was $241,000. Accountsreceivable at the beginning of the period was $36,000. What was thebalance in accounts receivable at the end of theperiod?

d. Net income for a period was $45,000. Current assetsincreased during the period by $7,500. Current liabilitiesincreased during the period by $10,000. How much was cash flow fromoperations for the period?

Reference no: EM13614214

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