Kendrick Company began the current year with the following: Accounts receivable $ 10,000 Allowance for doubtful accounts (800) Net account receivable 9,200 During the current year, the following events occurred: Accounts written off $ 1,200 Sales on account 30,000 Bad debt expense recognized 2,000 At the end of the current year, the company showed a balance in gross accounts receivable (before
the allowance for doubtful accounts) of $16,800. What amount would be shown as an operating cash inflow in the statement of cash flows under the indirect method?
a. $21,000
b. $22,000
c. $30,000
d. $28,200
B
You might also like to view...
In a highly competitive industry that traditionally has had a narrow profit margin, JetBlue managed to gain strategic advantage by reducing cost and therefore reducing the price to the customer.
Answer the following statement true (T) or false (F)
The company has no preferred stock outstanding. Calculate the dividend yield for common stock. (Round your answer to two decimal places.)
Commons, Inc. provides the following information for 2018:
A) 3.95%
B) 1.21%
C) 2.74%
D) 4.11%
Assume there are no provisions in the corporation's articles of incorporation or bylaws regarding quorum requirements. If there are 13 total directors of General Grain Corporation and the minimum number of directors are present to transact business, how many votes normally would be necessary for those present to act as a board?
a. 7 b. 4 c. 6 d. 11
Treasury stock is ________
A) a contra equity account B) a contra asset account C) a liability account D) an asset account