Answer:
a. - $3,100
b. $17,300
Explanation:
Changes in working capital = (ending balance of current assets - ending balance of current liabilities) - (beginning balance of current assets - beginning balance of current liabilities)
where,
Beginning current assets = Account receivable + inventory
= $25,200 + $12,600
= $37,800
Ending current assets = Account receivable + inventory
= $23,600 + $13,700
= $37,300
And, the current liabilities is given
= ($37,300 - $17,700) - ($37,800 - $15,100)
= $19,600 - $22,700
= - $3,100
b. The computation of the cash flow is shown below:
= Sales - costs + decrease in accounts receivable - increase in inventory + increase in accounts payable
= $36,600 - $24,600 + $1,600 - $1,100 + $2,600
= $17,300
The decrease and increase in current assets and liabilities shows a difference between the beginning and ending year amounts
Answer:
$10,181
Explanation:
Given that,
Unadjusted Cash Balance as of may 31 = $9,58
Interest revenue = $18
Note Collected by Bank = $700
NSF check = $98
Bank service charges = $25
Outstanding checks = $1,461
deposits in transit as of May 31 = $210
True Cash Balance as of May 31:
= Unadjusted Cash Balance as of may 31 + Interest Earned + Note Collected by Bank - NSF check - Bank charges
= $9,586 + $18 + $700 - $98 - $25
= $10,304 - $123
= $10,181
Answer:
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