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pychu [463]
3 years ago
11

Tropical Tours reported revenue of $400,000 for its year ended December 31, Year2. Accounts receivable at December 31, Year1 and

Year2, were $35,000 and $32,000, respectively. Using the direct method for reporting cash flows from operating activities, Tropical Tours would report cash collected from customers of:
a. $400,000.
b. $397,000.
c. $403,000.
d. $365,000.

Business
1 answer:
Svetradugi [14.3K]3 years ago
4 0

Answer:

Correct option is C.

Step wise solution is given below for demonstration.

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6 0
1 year ago
Delta Company purchased a delivery truck for a total cost of $15,000. Delta paid $2,000 in cash and signed a note payable for th
kupik [55]

Answer:

increase assets by $13,000, increase liabilities by $13,000 and have no effect on equity.

Explanation:

Given that

The total cost of purchase of delivery truck = $15,000

Cash paid = $2,000

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3 years ago
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Answer:

A.

7 0
3 years ago
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