What is the amount of cash received from customers

Assignment Help Financial Accounting

Reference no: EM133337072

Case: The following are all transactions that happened during Year 6:
Made sales on account of $250,000
Collected accounts receivable of $249,600
Purchased merchandise on account of $141,400
Determined cost of goods sold was $140,000
Paid accounts payable (for merchandise purchased) of $143,000
Paid wages to employees of $52,500
Accrued wages expense (and wages payable) of $1,500 at June 30th, Year 6.
Paid insurance premium of $18,000 to extend coverage for three years.
Allocated $5,000 of prepaid insurance to insurance expense.
Recorded Year 6 total income tax expense (and income tax payable) of $13,000
Paid income taxes to government of $11,500 (this represents the final portion of Year 5 taxes and initial installments of Year 6 taxes).
Depreciation for the year $10,000

Questions:

What is the amount of Cash received from customers?

What is the amount of cash generated (used) by Inventory in year 6?

What is the amount of cash generated (used) by accounts receivables in year 6?

What is amount of cash generated (used) by Operations in Year 6?

What is ending balance of Cash at the end of Year 6?

What is ending balance of Accounts Receivables at the end of Year 6?

What is ending balance of Accounts Payable at the end of Year 6?

Reference no: EM133337072

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