IMT Co. reported the following selected information for 2010: Sales revenue .......................................................................................... $865,000 Cost of...
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Accounting
IMT Co. reported the following selected information for 2010:
Sales revenue .......................................................................................... $865,000
Cost of goods sold.................................................................................. 360,000
Depreciation expense ............................................................................. 43,000
Salaries & wages expense ... 178,000
Rent Expense .. 95,000
Beginning of Year End of Year
Accounts receivable ..................................... $ 15,000 $ 35,000
Prepaid rent ................................................... 21,000 15,000
Salaries & wages payable ............................. 33,000 18,000
Required:Use the above information to calculate:
The cash collected from customers
ii)The cash paid for depreciation
iii)The cash paid to employees
iv)The cash paid for rent
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