Hidalgo Company Has the Following Selected Balance Sheet and Income $\text {For the Y ear}$

question 106

Essay

Hidalgo Company has the following selected balance sheet and income statement information: $\text {For the Y ear}$
$\text {Ended}$
$\text {December 31}$ , $\quad$ $20 \times 5$
$\text {Income statement accounts:}$
$\begin{array}{ll}\text { Cost of goods sold } & \$ 310,000 \\\text { Income tax expense } & 27,000 \\\text { Sales } &465,000 \\\text { Wage expens e }&83,000\end{array}$



$\begin{array}{lll}\text { At December 31} &\underline { 20 \times 5 } & \underline { 20 \times 4 }\\\text {Selected balance sheet accounts:}\\\text { Accounts p ay able } & \$ 27,000 & \$ 23,000 \\\text { Accounts receivable } & 12,000 & 10,000 \\\text { C ash } & 15,000 & 11,000 \\\text { Income taxes payable } & 15,000 & 6,000 \\\text { Inventory } & 21,000 & 16,000 \\\text { W ages p ayable } & 7,000 & 4,000\end{array}$ Determine the following items for Hidalgo Company for the year ended December 31, 20X5:
a. cash received from customers
b. cash paid to suppliers
c. cash paid for wages
d. cash paid for income taxes

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Definitions:

Personal Values

The core beliefs or standards that guide an individual's behavior and decision-making, influencing their personal and professional life.

Uncertainty Reduction Theory

A communication theory that suggests individuals seek to reduce uncertainty about others through information gathering to predict behavior.

Motivated

Having the desire and willingness to achieve something, often driven by internal or external factors that inspire action.

Co-Workers

Individuals who work together in the same organization or on the same team, but not necessarily in the same role or position.