FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Cash Paid for Operating Expenses

The following information was obtained from Knox Company's income statement for 20-2, balance sheets as of December 31, 20-2 and 20-1, and auxiliary records:

Operating expenses for 20-2 $350,400  
Depreciation expense for 20-2 22,000 (Included in operating expenses.)

 

  20-2 20-1
Supplies and prepayments $9,600 $6,700
Accrued and withheld payroll taxes 2,900 3,800

 

Compute the amount of cash paid for operating expenses in 20-2

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