Question
A company reports a $37440 increase in inventory and a $9360 increase in accounts payable during the year. Cost of goods sold for the year
A company reports a $37440 increase in inventory and a $9360 increase in accounts payable during the year. Cost of goods sold for the year was $222300. Using the direct method of reporting cash flows from operating activities, what are the company cash payments made to suppliers ?
Step by Step Solution
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Step: 1
To calculate cash payments made to suppliers using direct method we use the formula Cash ...
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
11th Canadian edition Volume 2
1119048540, 978-1119048541
