Excellence Corporation reports operating expenses of $200,000, including depreciation expense of $30,000, amortization expense of $5,000, and

Question:

Excellence reports operating expenses of $200,000, including depreciation expense of $30,000, amortization expense of $5,000, and a gain of $1,000 on the disposal of equipment during the current year. During this same period, prepaid expenses increased by $13,200 and accrued expenses payable decreased by $4,800. Calculate the cash payments for operating expenses.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...