Exercise 12-11 Your answer is incorect. Try again. Teal Mountain Inc. completed

Question

Exercise 12-11 Your answer is incorect. Try again. Teal Mountain Inc. completed its first year of operations on December 31, 2017. Its initial income statement showed that Teal Mountain Inc. had sales revenue of $305,118 and operating expenses of $127,903. Accounts receivable and accounts payable at year-end were $92,460 and $35,443, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes. Compute net cash provided (used) by operating activity using the direct method. (Show amounts that decrease cash flow with either a -sign e.g.-15,000 or in parenthesis o.g. (15,000).) Net cash provided (used) by operating activity

Explanation / Answer

Solution 12-11:

Note: As there are multiple question posted, i have answered first question as per chegg policy. Kindly post separate question for solution of 2nd question.

Computation of cash received from customers Particulars Amount Beginning accounts receivables $0.00 Add: Sales $305,118.00 Less: Ending accounts receivables $92,460.00 Cash received from customers $212,658.00

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