It is important to understand the relationship between information records under the matching principle and...
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Accounting
It is important to understand the relationship between information records under the matching principle and the related cash flows.
Company Ant starts an accounting period being owed 27,000 by customers; makes sales of 118,000 in the period; and receives payments of 123,000.
How much do As customers owe at the end of the period?
Company Cat starts an accounting period owing to its suppliers 28,000; during the period it buys 312,000 from suppliers, and at the end of the period it owes them 45,000.
How much has company C paid to suppliers?
Company Elephant makes sales of 275,000 in an accounting period; receives 260,000 payments from customers, and at the end of the period is still owed 40,000.
How much did Es customers owe at the start of the period?
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