Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. nicholas company prepares its statement of cash fl

Nicholas Company prepares its statement of cash flows using the direct method for operating activities....

60.1K

Verified Solution

Question

Accounting

Nicholas Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2016, Nicholas Company reports the following activity: Sales $2,140,000 Decrease in accounts receivable 600,000 Increase in accounts payable 72,000 Increase in inventory 48,000 Cost of good sold 1,050,000 What is the amount of cash collections from customers reported by Nicholas Company for the year ended December 31, 2016?

$2,740,000

$2,010,000

$2,750,000

$1,530,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

heart valves and pumps lab experiment What happened when you pressed on the balloon stretched over...

Medical Sciences
Q

The leaves of the rhubarb plant contain high concentrations of diprotic oxalic acid (HOOCCOOH) and must...

Chemistry
Q

1) What is a practical difficulty that Divine Command Theory faces? ( Why is it difficult to...

Psychology
Q

Create a pedigree of your family immediately family starting with your grandparents your mother father...

Biology
Q

Circle T has diameters RP and QS The measure of ZRTQ is 12 less than...

Geometry
Q

The number of mosquitoes in Brooklyn (in millions of mosquitoes) as a function of rainfall...

Basic Math
Q

In a study of 817 randomly selected medical malpractice lawsuits it was found that 520...

Statistics
Q

I need helping find the solution for 29b! I have completed all other journal entries...

Accounting
Q

Explains and defends the selling prices for grooming, day care, and boarding byciting financial data...

Accounting
Q

2) Complete the following tabulation to show what Pueblo, Inc. should report for stockholders' equity...

Accounting
Q

a. Bole invested $45,000 in a computer company. b. Bought computer equipment on account, $7,500....

Accounting
Q

Suppose a seven-year, $1,000 bond with a 8.62% coupon rate and semiannual coupons is trading...

Accounting