Question

Case X:	Compute cash received from customers:
	Sales	$	710,000
	Accounts receivable, Beginning balance		30,000
	Accounts receivable, Ending balance		41,400
Case Y:	Compute cash paid for rent
	Rent expense	$	102,300
	Rent payable, Beginning balance		5,550
	Rent payable, Ending balance		4,551
Case Z:	Compute cash paid for inventory
	Cost of goods sold	$	688,000
	Inventory, Beginning balance		213,280
	Accounts payable, Beginning balance		89,578
	Inventory, Ending balance		174,890
	Accounts payable, Ending balance		111,077

For each of the above three separate cases, use the information provided about the current-year operations of Sahim Company to compute the required cash flow information. Assume all purchases and sales of inventory are on credit

Case X: Cash received from Customer :___________________________

Case Y: Cash paid for rent: _______________________

Case Z: Cash paid for inventory: _____________________________

Answer 1

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Ans 1	Case X: Cash received from Customer :__
		Accounts receivable, Beginning balance		30,000
	Add	Sales		710,000
	Less	Accounts receivable, Ending balance		41,400
		Cash received from customer		698,600
		therefore answer =		698,600
ans 2	Case Y: Cash paid for rent: ___
		Rent payable, Beginning balance		5,550
	Add	Rent expense	$	102,300
	Less	Rent payable, Ending balance		4,551
		Cash paid for rent		103,299
		therefore answer =		103,299
Ans 3	Case Z: Cash paid for inventory:
		Cost of goods sold		688,000
	Less	Inventory, Beginning balance		213,280
	Add	Inventory, Ending balance		174,890
		Purchase during the year		649,610
		Accounts payable, Beginning balance		89,578
	Add	Purchase during the year		649,610
	Less	Accounts payable, Ending balance		111,077
		Cash paid for inventory		628,111
		ans =		628,111