Homework Answers
Solution 6:
Cash flow from operating activities would appear in year 2 statement of cash flows = Collection from accounts receivables = $60,500
Hence option A is correct.
Solution 7:
True cash balance = Unadjusted bank balance + Deposit in transit - Outstanding checks
= $3,740 + $430 - $560 = $3,610
Hence option C is correct.
Solution 8:
True cash balance = Unadjusted book balance - NSF check - Service charges
= $10,100 - $210 - $30
= $9,860
Hence option A is correct.
Note: Question 5 could not be answered as requirement of question is not available.
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