1. XYZ had Revenues of $200,000 during 2015, and its Accounts Receivable increas
ID: 2585921 • Letter: 1
Question
1. XYZ had Revenues of $200,000 during 2015, and its Accounts Receivable increased from $40,000 to $50,000 during 2015. How much cash did XYZ collect from customers during 2015? XYZ did not have any unearned revenues.
Cannot be determined
2. XYZ had Cost of Goods Sold of $100,000 during 2015, and its Inventory increased from $20,000 to $30,000 during 2015. XYZ's Accounts Receivable decreased from $22,000 to $17,000 and its Accounts Payable increased from $14,000 to $17,000 during 2015. How much cash did XYZ pay to suppliers during 2015?
$190,000Explanation / Answer
Answer to 1 is $190000
Answer to 2 is $107000
Particulars Amt Opening Receivables 40000 Add: Sales 200000 Less: Closing Receivables 50000 Cash Collected 190000Related Questions
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