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| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 3 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
1. Maxwell Furniture Center had accounts receivable of $20,000 at the beginning of the year and $54,000 at year-end. Revenue for the year totaled $116,000. How much cash did the business collect from customers?
a. $150,000
b. $62,000
c. $116,000
d. $82,000
2. Magic Toys Company had operating expense of $48,000. At the beginning of the year, Magic Toys owed $10,000 on accrued liabilities. At year-end, accrued liabilities were $5,000. How much cash did Magic Toys pay for operating expenses?
a. $38,000
b. $53,000
c. $48,000
d. $43,000
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