1. XYZ had Revenues of $200,000 during 2015, and its Accounts Receivable increased from $40,000...
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Accounting
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.
$190,000
$200,000
$210,000
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?
$98,000
$107,000
$113,000
$118,000
None of the above
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