178. The following selected account balances are taken from a merchandising company's records: Dec. 31 Dec. 31, For the 2015 2014 Year 2015 Merchandise...





178. The following selected account balances are taken from a merchandising company's records:












































































Dec. 31




Dec. 31,




For the







2015




2014




Year 2015




Merchandise inventory...............




$ 15,600




$ 21,200







Accounts receivable..................




42,000




36,000







Accounts payable...................




32,400




27,400







Salaries payable....................




4,400




3,000



















Total assets.......................




234,000




286,000







Sales............................










$312,000




Cost of goods sold...................










165,600




Salaries expense....................










48,000





(a) Calculate the cash payments made during 2015 for merchandise. Assume all of the company's accounts payable balances result from merchandise purchases.
(b) Calculate the cash receipts from customer sales during 2015.
(c) Calculate the cash payments for salaries during 2015.



179. Use the following calendar-year information to prepare Adam Company's statement of cash flows using the direct method.























































Cash paid to purchase machinery…………………………




$ 124,000




Cash paid for merchandise inventory……………………..




220,000




Cash paid for operating expenses…………………………




280,000




Cash paid for interest……………………………………...




4,000




Cash received for interest…………………………………




10,000




Cash proceeds from sale of land…………………………..




100,000




Cash balance at beginning of year………………………..




15,000




Cash balance at end of year……………………………….




77,000




Cash borrowed on a short-term note………………………




25,000




Cash dividends paid……………………………………….




24,000




Cash received from stock issuance………………………..




57,000




Cash collections from customers………………………….




522,000






May 15, 2022
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