Question

During its first year of operations, Widgets Incorporated reported Sales Revenue of $388,600 but collected only $310,000 from customers. At the end of the year, Accounts Receivable equal:

The statement of cash flows shows the following information:
Cash provided by operating activities of $ 16,700
Cash used by investing activities of $ 8,200
Cash used by financing activities of $ 2,700
2.

The beginning cash was $14,400. What is the amount of cash at the end of the period?
$31,100.

$20,200.

$42,000.

$8,600.

Answer 1

1. $78,600

2. $20,200

Step-by-step explanation:

The computation is shown below:

1. For Accounts Receivable, it would equal to

= Sales revenue - collection from customers

= $388,600 - $310,000

= $78,600

2. The ending balance would be equal to

= Cash provided by operating activities - Cash used by investing activities - Cash used by financing activities + beginning cash balance

= $16,700 - $8,200 - $2,700 + $14,400

= $20,200