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f the company's selling and administrative expense includes $16,000 of depreciation, then what is the amount of cash paid for selling and administrative expenses? Multiple Choice O O $94.000 $92,000 $100.000

f the company's selling and administrative expense includes $16,000 of depreciation, then what is the amount of cash paid for selling and administrative expenses? Multiple Choice O O $94.000 $92,000 $100.000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Assume a merchandising company reported the following income statement $ 300,000 180,000 Sales Cost of goods sold Gross margin selling and administrative expenses Net income before taxes Income tax expense. Net income Selected balance sheet accounts are as follows. Current Assets Accounts receivable Inventory Prepaid expenses Current Liabilities Beginning Balance $ 60,000 $ 30,000 $ 8,000 $ 10,000 $ 8,000 $ 4,000 120,000 80,000 40,000 12,000 $ 28,000 Ending Balance $ 65,000 $ 28,000 $ 6,000 Accounts payable Accrued liabilities $13,000 $ 6,000 $4,000 Income taxes payable. If the company's selling and administrative expense includes $16,000 of depreciation, then what is the amount of cash paid for selling and administrative expenses?
Transcribed Image Text:Assume a merchandising company reported the following income statement $ 300,000 180,000 Sales Cost of goods sold Gross margin selling and administrative expenses Net income before taxes Income tax expense. Net income Selected balance sheet accounts are as follows. Current Assets Accounts receivable Inventory Prepaid expenses Current Liabilities Beginning Balance $ 60,000 $ 30,000 $ 8,000 $ 10,000 $ 8,000 $ 4,000 120,000 80,000 40,000 12,000 $ 28,000 Ending Balance $ 65,000 $ 28,000 $ 6,000 Accounts payable Accrued liabilities $13,000 $ 6,000 $4,000 Income taxes payable. If the company's selling and administrative expense includes $16,000 of depreciation, then what is the amount of cash paid for selling and administrative expenses?
if the company's selling and administrative expense includes $16,000 of depreciation, then what is the amount of cash paid for selling and administrative expenses? Multiple Choice $94.000 $92,000 $100,000 $64,000
Transcribed Image Text:if the company's selling and administrative expense includes $16,000 of depreciation, then what is the amount of cash paid for selling and administrative expenses? Multiple Choice $94.000 $92,000 $100,000 $64,000
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