I have some questions, which I'm not sure if I got them correct.

So I hope for some help.

1. During 2005, P. recorded sales of $17k. How much cash did it collect from its customers?

remark: There is a pictures of a balance sheet which shows an increased accounts receivable by $3k. And the cash increased by $7k

-$17k
-$14k
-$3k
- cannot be estimated

I would say, normally sales means cash but the accounts receivable increase which means that something was sold on credit. That the cash only increases by $7k should be irrelevant since cashes increases and decreases not equally to sales, right? So I assume the following should be done subtract the $3k from the $17k.

2. During 2005, S Foods, Inc. records an interest expense of $5k, and pays $2k of it in cash. How should this accounting transaction be recorded?

-Debit interest expense $5k; credit cash $2k; credit taxes payable $3k
-Debit interest expense $5k; credit cash $2k; credit interest payable $3k
-Debit various debt accounts $5k; credit cash $2k; credit interest payable $3k
-Debit interest expense $5k; credit cash $2k; credit various debt accounts $3k

Since it is only interest cash mentioned I would assume that you book it only under this and not under various accounts, or can you do that?

3. S. Company estimates its 2005 tax expenses to be $80k. It makes a cash payment of $20k to the tax authorities on Dec. 31, 2005. How should this transaction be recorded by S.

-Debit Tax expenses $80k; credit cash $60k; credit taxes payable $20k
-Debit Tax expenses $80k; credit cash $20k; credit taxes payable $60k
-Debit Tax expenses $80k; credit cash $20k;
-Debit Tax expenses $80k; credit cash $20k; credit accounts payable $60k

I assumed that the estimations is used like a fact, but you usually using precise values in the balance sheet so I'm not sure if you do it like that.

I really hope that someone can help me and I didn't get a problem with the basic understandings of accounting.

You are correct in your answers.

Thank you so much. That helps a lot.

Could you help with another question as well.

4.During 2005, Patnode had a cash outflow of $15 000 for investing activities and a cash inflow of $7 000 from financing activies. Its2005 cash flow from operation was:

-Outflow of $15,000
-inflow of $15,000
-[B]Outflow of $8,000[B]
-inflow of$8,000

I would have said that outflow from investing and the financing activies and sum them.

But is that correct when the questions is about the operations?

You will have an Outflow of $15,000

Financing and Investing activities are not part of the Operating activities in the Cash Flow Statement.

You will have an Outflow of $15,000

Financing and Investing activities are not part of the Operating activities in the Cash Flow Statement.

Thank you for your respond.

After reading I realize a big mistake on my side, the numbers in the question are not relevant as you already pointed that out.
Additional to the question there was a balance sheet posted, which I thought it is not relevant to answer this question, it is actually the opposite.

After putting the numbers together from the balance sheet I got the result of having an inflow cash flow.

Basically they confuse us with the numbers, which are given.
I have to say without your feedback I would never understand it.