CASH PAID FOR OPERATING EXPENSES The following information was obtained from Knox Company's income statement for 20-2,

Question:

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.)

Compute the amount of cash paid for operating expenses in20-2.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

College Accounting

ISBN: 978-0538745192

20th Edition

Authors: Heintz and Parry

See More Books

Question Posted: Dec 23, 2011 08:55 AM

See More Questions

CASH PAID FOR OPERATING EXPENSES The following information was obtained from Busby Company's income statement for 20-2, balance sheets as of December 31, 20-2 and 20-1, and auxiliary records:...
The condensed balance sheets as of December 31 for Rice and Associates and Rachel Excavation are as follows: As of December 31, the market values of Rachels inventories and property, plant, and...
The following information was obtained from the comparative financial statements included in IBMs 2008 annual report. (All amounts are in millions of dollars.) Required 1. Using the information...
Determine the radius of convergence of the following power series. Then test the endpoints to determine the interval of convergence. 2k (x - 3)k k
Create your own original Linear Programming problem with a minimum of two variables and two constraints. Your problem should be presented in paragraph form and reflected in a LP equation, showing the...
Find the general solutions of the systems whose augmented matrices are given. 1 2 -5 0 0 -4 1 -6 -4 0 0 0 0 0 0 0 0-5 0 2 1 0 0 0
Identify the range of customer service calls that should be considered outliers, using: a. the Z-score method; b. the IQR method.
Following are selected accounts for Mergaronite Company and Hill, Inc., as of December 31, 2013. Several of Mergaronites accounts have been omitted. Credit balances are indicated by parentheses....
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,800 pounds of oysters in August. The company's flexible budget for August appears below: Quilcene...
Under pressure to balance their budgets, governments at all levels have resorted to scal gimmicks, such as delaying the wages and salaries of government employees from the last day of the month to...
CASH PAID FOR MERCHANDISE Douglas Company's cost of goods sold for 20-2 was $400,000. Compute the amount of cash paid for merchandise in 20-2. The December 31, 20-2 and 20-1, balances of Merchandise...
CASH RECEIVED FOR INTEREST Eary Company's income statement for 20-2 reported interest revenue of $430. The comparative balance sheet as of December 31, 20-2 and 20-1, reported the following: Compute...
Stock is often considered the riskiest type of investment vehicle. The reasoning behind the risky label is the fact that company stock prices can move up or down rapidly, and many internal and...
Use a substitution of the form u= ax + b to evaluate the following indefinite integral. S3x 3x+4 dx
Task 3 In order to support other staff to complete future risk assessments, produce a short-written report that explains. how hazards that become risks can be controlled the importance of fully...
let arr = [x => x + 5, x => 8, x => x * 2]; let b = X; let a = arr.reduce((acc, f) => acc + f(b), 0); If we know a is 28, what's the value of X?
2. (10 pts.) Identify the point symmetry elements of the structures for which the given directions are equivalent. Enumerate the elements (i.e., the individual symmetry operations) that make up the...
Theory Newton's second law can be written in a more general form as where is the momentum of system of N objects and is the net external force on the system. This relationship says that the rate at...
Cost Behavior and Cost-Allocation Alternatives Joe, how do you think we ought to charge ourselves for the operation and upkeep on our new airplane? It seems to me there are several ways we could...
Could the owner of a business prepare a statement of financial position on 9 December or 23 June or today?
The highest recorded temperature during the month of July for a given year in Death Valley, in California, has an approximately normal distribution with a mean of 123.8F (!) and standard deviation of...
Carlos Zayas is the owner of The Home Pantry, a housewares store that sells a wide variety of items for the kitchen, bathroom, and home. The Home Pantry offers a company credit card to its customers....
What journals can be used to enter various merchandise purchase transactions?
What is the normal balance of the Purchases accounts?
What general conclusions can you draw about your companys liquidity, solvency and productivity based on your ratio calculations. Working Capital 2017 = $9,994 M 2016 = $10,673 M Current Ratio 2017 =...
Tami Tyler opened Tami's Creations, Incorporated, a small manufacturing company, at the beginning of the year. Getting the company through its first quarter of operations placed a considerable strain...
5. The current spot exchange rate is 0.95/$ and the three-month forward rate is 0.91/$. Based on your analysis of the exchange rate, you are pretty confident that the spot exchange rate will be...

CASH PAID FOR OPERATING EXPENSES The following information was obtained from Knox Company's income statement for 20-2,

Question:

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

Step by Step Answer:

Operating expenses for 202 350400 Less depreciation expense 22...View the full answer

College Accounting

Students also viewed these Managerial Accounting questions