2 years ago

Which of the following would appear in the Debits column of a bank statement for a checking account?

Business

1 answer:

Mariana [72]2 years ago

8 0

The answer is A: Service fee

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3 years ago

Toggle Company reported sales of $310,000 and cost of goods sold of $180,000 for 20X2. During 20X2, Toggle’s accounts receivable

kiruha [24]

Answer:

Cash Received from customers = $293,000

Cash payments to suppliers = $167,000

Cash flows from operating activities = $460,000

Explanation:

Cash Received from customers is calculated as follows :

Sales $310,000

Less Increase in accounts receivable ($17,000)

Cash Received from customers $293,000

Cash payments to suppliers is calculated as follows :

Cost of goods sold $180,000

Decrease in Inventory $8,000

Decrease in Payable ($21,000)

Cash payments to suppliers $167,000

Cash flows from operating activities is calculated as follows :

Cash Received from customers $293,000

Cash payments to suppliers $167,000

Cash flows from operating activities $460,000

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3 years ago