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Operating Cash Flows

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E10-3 Computation of Operating Cash Flows

Toggle Company reported sales of $310,000 and cost of goods sold of $180,000 for 20X2. During 20X2, Toggle's accounts receivable increased by $17,000, inventory decreased by $8,000, and accounts payable decreased by $21,000.

Required
Compute the amounts to be reported by Toggle as cash received from customers, cash payments to suppliers, and cash flows from operating activities for 20X2.

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Solution Summary

Word file contains computation of Operating Cash Flows for Toggle Company.

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Please see attached file complete details on your posting.

Assumptions:

Cost of goods sold = Purchases

All expenses are cash expenses.

Cash received from customers:

Let the beginning balance be X.

Therefore ending balance of account ...

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