Question
1. Calculate the cash payment for income taxes for Markowitz Corporation based on the following information: income tax expense $93,000, $8,000 decrease in federal income
1. Calculate the cash payment for income taxes for Markowitz Corporation based on the following information:income tax expense $93,000, $8,000 decrease in federal income taxes payable and $10,000 increase in state income taxes payable during the year. A. $91,000 B. $85,000 C. $83,000 D. $75,000 .
2. During the year Sibila Company increased its inventory by $75,000, cost of goods sold was 105,000, and accounts payable decreased by $11,000. Calculate the company's cash payments to suppliers. $86,000 $116,000 $180,000 $191,000 3. Martinez, Inc. had the following information: cash sales $700,000, credit sales $1,350,000, and accounts receivable decreased by $50,000 for the year. Calculate how much money the company had received from its customers.
A. $2,000,000 B. $2,100,000 C. $2,050,000 D. $2,000,000
3. Martinez, Inc. had the following information: cash sales $700,000, credit sales $1,350,000, and accounts receivable decreased by $50,000 for the year. Calculate how much money the company had received from its customers. (Points : 3) |
$2,000,000 $2,100,000 $2,050,000 $2,000,000
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