5.Use the information provided in each of the following independent situations to answer the questions.
a.Cash paid to suppliers for merchandise during a period was $30,000. Accounts Payable decreased during the period by $4,000. Inventory increased during the period by $2,500. What was the Cost of Goods Sold for the period?
b.Interest paid during a period was $6,000. Interest Payable decreased during the period by $1,500. What was the Interest Expense during the period?
c.Cash flow from operations for a period was $10,000. Current assets decreased during the period by $1,200. Current liabilities decreased during the period by $2,500. What was net income for the period?
d.Cash collected from customers for a fiscal period was $20,000. Accounts Receivable increased during the period by $5,000. What was Sales Revenue for the period?
6.Answer the questions using the information provided in each of the following independent situations.
a.Net cash flow from operations for a period was $15,000. Noncash Revenues for the period were $9,000. Noncash Expenses for the period were $11,000. What was net income for the period?
b.Wages Expense for a period was $35,000. Wages Payable increased during the period by $23,000. How much cash was paid to employees during the period?
c.Cash collected from customers for a fiscal period was $17,500. Sales Revenue for the period was $20,000. Accounts Receivable at the beginning of the period was $2,500. What was the balance in Accounts Receivable at the end of the period?
d.Net income for a period was $26,000. Current assets increased during the period by $3,000. Current liabilities increased during the period by $5,500. How much was cash flow from operations for the period?