1. Classify the following as operating, investing, or financing inflows or outflows. Assume the company at hand is a general merchandising company.a. Cash received due to sale of common stock. (financing inflows)b. Cash provided to another entity as a long-term loan. c. Cash received from sale of old warehouse. d. Cash paid to employees .e. Cash paid for inventory.f. Cash received from Bank Corp, who is the lender in a loan agreement.2. Grateful Industries, a service company, made two sales during 2016:Sale #1: $50,000 (on account)Sale #2: $100,000 (cash collected same day as service provided)The following information relates to Grateful Industries’ Accounts Receivable account:Beginning Balance: $12,000Ending Balance: $17,000Based on the information given, how much cash did Grateful Industries collect in 2016?
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