Using the direct method of reporting cash flows from operating activities, cash paid for merchandise during the year is
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The cost of merchandise sold during the year was $45,245. Merchandise inventories were $13,491 and $8,567 at the beginning and end of the year, respectively. Accounts payable were $5,962 and $3,677 at the beginning and end of the year, respectively. Using the direct method of reporting
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- Smoltz Company reported the following information for the current year: cost of goods sold, $252,500; increase in inventory, $21,700; and increase in accounts payable, $12,200. What is the amount of cash paid to suppliers that Smoltz would report on its statement of cash flows under the direct method? a. $218,600 c. $262,000 b. $243,000 d. $286,400The cost of merchandise sold during the year was $51,768. Merchandise inventories were $13,894 and $8,414 at the beginning and end of the year, respectively. Accounts payable (all owed to merchandise suppliers) were $5,591 and $3,814 at the beginning and end of the year, respectively. Using the direct method of reporting cash flows from operating activities, cash payments for merchandise total a.$5,591 b.$51,768 c.$44,511 d.$48,065The cost of goods sold during the year was $341600. Inventory decreased by $11200 during the year and accounts payable decreased by $13400 during the year. Using the direct method of reporting cash flows from operating activities, cash payments for inventory total $355000. $343800. $366200. $317000.
- Sales for the year were $551,730. Accounts receivable were $107,769 and $86,221 at the beginning and end of the year. Determine the cash received from customers to be reported on the cash flow statement using the direct method. Select the correct answer. a-$573,278 b-$594,826 c-$659,499 d-$551,730Accounts receivable from sales transactions were $46,255 at the beginning of the year and $67,957 at the end of the year. Net income reported on the income statement for the year was $123,439. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method is:The cost of goods sold during the year was $281200. Inventory increased by $9000 during the year and accounts payable decreased by $14100 during the year. Using the direct method of reporting cash flows from operating activities, cash payments for inventory total?
- Accounts receivable from sales transactions were $49,313 at the beginning of the year and $62,098 at the end of the year. Net income reported on the income statement for the year was $122,531. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method would beAccounts receivable from sales transactions were $45,634 at the beginning of the year and $60,027 at the end of the year. Net income reported on the income statement for the year was $126,710. Exclusive of the effect of other adjustments, the net cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method would be a. $126,710 b. $112,317 c. $14,393 d. $141,103The Simplex Company reported cost of goods sold on its income statement of $10,000. The following account balances appeared on the company's comparative balance sheet for the same year: Data shows the ending and beginning balances of the accounts: Inventory $22,000 $20,000; Accounts Payable $14,000 $11,000 The company uses the indirect method to determine the net cash provided by operating activities. The cost of goods sold, adjusted to a cash basis, on the company's statement of cash flows for the year would be: a. $11,000 b. $10,000 c. $9,000 d. $5,000
- Last year Lawsby Company reported sales of P120,000 on its income statement. During the year, accounts receivable increased by P10,000 and accounts payable increased by P15,000. The company uses the direct method to determine the net cash provided by operating activities on the statement of cash flows. The sales revenue adjusted to a cash basis for the year would be:Accounts receivable from sales transactions were $49,971 at the beginning of the year and $66,757 at the end of the year. Net income reported on the income statement for the year was $129,867. Exclusive of the effect of other adjustments, the net cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method is a. $113,081 b. $129,867 c. $16,786 d. $146,653Accounts receivable from sales transactions were $45,582 at the beginning of the year and $68,677 at the end of the year. Net income reported on the income statement for the year was $142,695. Exclusive of the effect of other adjustments, the net cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method would be a.$23,095 b.$119,600 c.$165,790 d.$142,695