The Following Information Is Provided by Horizons Company

Essay

The following information is provided by Horizons Company:
Horizons Company
Balance Sheet
December 31,2014 and 2013

Horizons Company
Income Statement
For the Years Ended December 31,2014 and 2013

Additional information pertinent to this company is as follows:
1.Cash received from issuing the note was subsequently used to purchase a new building.Common stock sold in 2014 provided additional working capital.
2.All accounts payable and accounts receivable relate to trade merchandise.No provision was made for uncollectible accounts in 2014 and no receivables were charged against the allowance in 2014.
3.Accounts payable are recorded net and paid within the discount period.
Required:
Determine the following amounts:
1.Cash collected from accounts receivable during 2014.
2.Cash payments for noncurrent assets purchased during 2014.
3.Cash receipts during 2011 that were not provided by operations.
4.Cash payments during 2011 on accounts payable to suppliers.