Selected financial statement information for Filmco appears below:
$$\begin{array} { l r r }
\text { Balance Sheet accaunts } & \text { Jan. 1, 2010 } & \text { Dec. 31, 2010 } \
\text { Inventary } & \$ 210,000 &\$ 85,000 \
\text { Accounts Receivable } & \$ 90,000 &\$ 45,000 \

\end{array}$$

Calculate the amount of cash collected from customers and the amount of cash spent on inventory for 2010 by Filmco.

Question

Selected financial statement information for Filmco appears below:
 $$\begin{array} { l r r } 
\text { Balance Sheet accaunts } & \text { Jan. 1, 2010 } & \text { Dec. 31, 2010 } \
\text { Inventary } & \$ 210,000 &\$ 85,000  \
\text { Accounts Receivable } &  \$ 90,000 &\$ 45,000 \

\end{array}$$ 
  
Calculate the amount of cash collected from customers and the amount of cash spent on inventory for 2010 by Filmco.

Quizplus · Accepted Answer

The Answer of Selected financial statement information for Filmco appears below:
 $$\begin{array} { l r r } 
\text { Balance Sheet accaunts } & \text { Jan. 1, 2010 } & \text { Dec. 31, 2010 } \
\text { Inventary } & \$ 210,000 &\$ 85,000  \
\text { Accounts Receivable } &  \$ 90,000 &\$ 45,000 \

\end{array}$$ 
  
Calculate the amount of cash collected from customers and the amount of cash spent on inventory for 2010 by Filmco.

Selected Financial Statement Information for Filmco Appears Below Calculate the Amount of Cash Collected from Customers and the l