BE22.6 At January 1, 2022, Eikenberry Inc. had accounts receivable of $72,000. At December 31, 2022, accounts receivable is $54,000. Sales revenue for 2022 total $420,000. Compute Eikenberry's 2022 cash receipts from customers. BE22.7 Moxley Corporation had January 1 and December 31 balances as follows 1/1/2022 12/31/2022 Change Inventory Accounts payable $ 95,000 $113,000 61,000 69,000 For 2022, cost of goods sold was $500,000. Compute Moxley's 2022 cash payments to suppliers. 18,000 8,000
BE22.6 At January 1, 2022, Eikenberry Inc. had accounts receivable of $72,000. At December 31, 2022, accounts receivable is $54,000. Sales revenue for 2022 total $420,000. Compute Eikenberry's 2022 cash receipts from customers. BE22.7 Moxley Corporation had January 1 and December 31 balances as follows 1/1/2022 12/31/2022 Change Inventory Accounts payable $ 95,000 $113,000 61,000 69,000 For 2022, cost of goods sold was $500,000. Compute Moxley's 2022 cash payments to suppliers. 18,000 8,000
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter5: Professional Auditing Standards And The Audit Opinion Formulation Process
Section: Chapter Questions
Problem 9RQSC: Assume that an organization asserts that it has $35 million in net accounts receivable. Describe...
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Transcribed Image Text:BE22.6 At January 1, 2022, Eikenberry Inc. had accounts receivable of $72,000. At December 31, 2022, accounts receivable is $54,000.
Sales revenue for 2022 total $420,000. Compute Eikenberry's 2022 cash receipts from customers.
BE22.7 Moxley Corporation had January 1 and December 31 balances as follows
1/1/2022 12/31/2022 Change
Inventory
$ 95,000 $ 113,000
69,000
Accounts payable 61,000
For 2022, cost of goods sold was $500,000. Compute Moxley's 2022 cash payments to suppliers.
18,000
8,000
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