The following selected account balances appeared on the financial statements of the Washington Company: Accounts Receivable, Jan. 1 $13,000 Accounts Receivable, Dec. 31 9,000 Accounts Payable, Jan 1 4,000 Accounts payable Dec. 31 7,000 Merchandise Inventory, Jan 1 10,000 Merchandise Inventory, Dec 31 15,000 Sales 56,000 Cost of Goods Sold 31,000 The Washington Company uses the direct method to
calculate net cash flow from operating activities. Cash paid to suppliers is
A) $39,000
B) $33,000
C) $29,000
D) $23,000
B
You might also like to view...
Who among the following is an example of internal customers?
A. Potential clients B. Vendors C. Subordinates D. Suppliers
Flexible budgeting is a reporting system in which the:
a. Budget shows estimated costs at different levels of production volume. b. Budget standards may be adjusted at will. c. Reporting dates vary according to the levels of activity reported upon. d. Statements included in the budget report vary from period to period.
Why has the effectiveness of trade shows been debated in recent years?
What will be an ideal response?
Prudence Co. receives a $26,000, 90-day, 4% note receivable. What is the total principal and interest due at maturity?
What will be an ideal response?