Posted: August 9th, 2016

What is the new amount in the accounts receivable?

Which of the factors are quantitative and which are qualitative? Which of the factors are quantitative and which are qualitative?E23-3 Preparation of Operating Activities Section – Indirect Method, Periodic Inventory

The income statement of Rodriquez Company is shown below.

Income Statement
For The Year Ended December 31, 2012
Sales $6,900,000
Cost of goods sold
Beginning inventory $1,900,000
Purchases 4,400,000
Goods available for sale 6,300,000
Ending inventory 1,600,000
Cost of goods sold 4,700,000
Gross profit 2,200,000
Operating expenses
Selling expenses 450,000
Administrative expenses 700,000 1,150,000
Net income $1,050,000

Additional information:
1. Accounts receivable decreased 0,000 during the year.
2. Prepaid expenses increased 0,000 during the year.
3. Accounts payable to suppliers of merchandise decreased $275,000 during the year.
4. Accrued expenses payable decreased $120,000 during the year.
5. Administrative expenses include depreciation expense of $60,000

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