Question

You are given the following information for Thrice Corp.:          Decrease in inventory $ 560...

You are given the following information for Thrice Corp.:

   

  
  Decrease in inventory $ 560
  Decrease in accounts payable 230
  Increase in notes payable 215
  Increase in accounts receivable 245

  

Did cash go up or down? By how much?

  

  

Classify each event as a source or use of cash.

  

Homework Answers

Answer #1

The cash is computed as shown below:

= Decrease in inventory + increase in notes payable - decrease in accounts payable - Increase in accounts receivable

= $ 560 + 215 - $ 230 - $ 245

= $ 300

Decrease in inventory: Source of cash

Increase in notes payable: Source of cash

Decrease in accounts payable: Use of Cash  

Increase in accounts receivable: Use of Cash

Feel free to ask in case of any query relating to this question      

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
You are given the following information for Thrice Corp.:   Decrease in inventory $ 375 Decrease in...
You are given the following information for Thrice Corp.:   Decrease in inventory $ 375 Decrease in accounts payable 220   Increase in notes payable 290   Increase in accounts receivable 270 Did cash go up or down? By how much? Classify each event as a source or use of cash. Decrease in inventory is a Decrease in accounts payable is a Increase in notes payable is a Increase in accounts receivable is a
You are given the following information for Thrice Corp.:          Decrease in inventory $ 550...
You are given the following information for Thrice Corp.:          Decrease in inventory $ 550   Decrease in accounts payable 225   Increase in notes payable 210   Increase in accounts receivable 240    1) Did cash go up or down? By how much? 2) Classify each event as a source or use of cash.
You are given the following information for Dauphin Corp.:    Decrease in inventory $ 430 Decrease...
You are given the following information for Dauphin Corp.:    Decrease in inventory $ 430 Decrease in accounts payable 165 Increase in notes payable 150 Increase in accounts receivable 180 Did cash go up or down? By how much? Cash             (Click to select)  increased  decreased  by $ Classify each event as a source or use of cash. Decrease in inventory is a     (Click to select)  use of cash  source of cash Decrease in accounts payable is a     (Click to select)  use of cash  source of cash...
Based only on the following information for Thrice Corp., did cash go up or down? By...
Based only on the following information for Thrice Corp., did cash go up or down? By how much? Classify each event as a source or use of cash.   Decrease in inventory $460   Decrease in accounts payable 180   Increase in notes payable 570   Increase in accounts receivable 240 Multiple Choice Cash decreased by $610 Cash increased by $610 Cash increased by $1,090 Cash decreased by $1,450 Cash increased by $970
2. Based only on the following information for Murdoch Pty Ltd, did cash go up or...
2. Based only on the following information for Murdoch Pty Ltd, did cash go up or down? By how much? Classify each event as a source or a use of cash. [8 marks] Increase in accounts payable $25,000 Increase in inventory $15,000 Decrease in accounts receivable $27,000 Decrease in borrowings $65,000 2. Based only on the following information for Murdoch Pty Ltd, did cash go up or down? By how much? Classify each event as a source or a use...
What is the net addition to cash given the information below? Decrease in inventory = $5,250...
What is the net addition to cash given the information below? Decrease in inventory = $5,250 Increase in accounts receivable = $7,650 Decrease in net fixed assets = $9,150 Increase in accounts payable = $6,250 Decrease in notes payable = $8,750 Increase in long-term debt = $8,500 Decrease in retained earnings = $1,150 Increase in common stock = $5,550 a. -23450 b. 11650 c. -11650 d. -17150 e. 17150
The financial statements of Vargas Corp. provide the following information. Calculate the cash provided from operating...
The financial statements of Vargas Corp. provide the following information. Calculate the cash provided from operating activities. Net Income $250,000, Depreciation expense $19,000, Loss on the Disposal of Equipment $8,000, Increase in Accounts Receivable $11,000, Decrease in Inventory $2,500, Increase in Pre-Paid expenses $4,000, Dividends Paid $5,500, Increase in Accounts Payable $15,000, Decrease in Income Tax Payable $2,500.
Determined the common stock for Bertinelli Corp. based on the following information: cash = $380,000; patents...
Determined the common stock for Bertinelli Corp. based on the following information: cash = $380,000; patents and copyrights = $730,000; accounts payable = $380,000; accounts receivable = $179,000; tangible net fixed assets = $3,800,000; inventory = $345,000; notes payable = $180,000; accumulated retained earnings = $1,235,000; long-term debt = $1,530,000.
Determine the common stock for Bertinelli Corp. based on the following information: cash = $240,000; patents...
Determine the common stock for Bertinelli Corp. based on the following information: cash = $240,000; patents and copyrights = $720,000; accounts payable = $520,000; accounts receivable = $129,000; tangible net fixed assets = $4,300,000; inventory = $255,000; notes payable = $180,000; accumulated retained earnings = $1,195,000; long-term debt = $1,530,000.
Prepare a 2018 statement of financial position for Madware Corp. based on the following information: cash...
Prepare a 2018 statement of financial position for Madware Corp. based on the following information: cash = $125,000; patents and copyrights = $630,000; accounts payable = $210,000; accounts receivable = $105,000; tangible net fixed assets = $1,620,000; inventory = $293,000; notes payable = $158,000; accumulated retained earnings = $1,278,000; long-term debt = $845,000.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT