What is the amount of cash collections that spencer will

Assignment Help Accounting Basics

Reference no: EM13571563

Spencer Corp. reported accounts receivable of $28,000 on its December 31, 2011, balance sheet. On December 31, 2012, accounts receivable had decreased to $16,000. Sales for the year amounted to $66,500.

What is the amount of cash collections that Spencer will report in the Operating Activities section of its 2012 statement of cash flows assuming that the direct method is used?

Reference no: EM13571563

Questions Cloud

Ahnberg corporation had 800000 shares of common stock : ahnberg corporation had 800000 shares of common stock issued and outstanding at january 1. no common shares were issued

The balance sheet for ronlad corporation reported 168000 : the balance sheet for ronlad corporation reported 168000 shares outstanding 268000 shares authorized and 10000 shares

Cole company has 288000 shares of common stock authorized : cole company has 288000 shares of common stock authorized 260000 shares issued and 60000 shares of treasury stock. the

Taylor trucking is considering purchasing a new truck it is : taylor trucking is considering purchasing a new truck. it is expected the truck will increase annual revenues by 31000

What is the amount of cash collections that spencer will : spencer corp. reported accounts receivable of 28000 on its december 31 2011 balance sheet. on december 31 2012 accounts

Equipment was purchased for 800000 on january 1 2014 it has : a equipment was purchased for 800000 on january 1 2014. it has an estimated useful life of 8 years and a residual value

Wires inc sells telephone poles to utility and telephone : wires inc. sells telephone poles to utility and telephone companies across the united states. there are four regions

Mocha company manufactures a single product by a continuous : mocha company manufactures a single product by a continuous process involving three production departments. the records

Lichty uses the total-cost approach and a discount rate of : ignore income taxes in this problem. lichty car wash has some equipment that needs to be rebuilt or replaced. the

Reviews

Write a Review

Required(*) Message

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

User Account

All Pages