Question
ABC Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2021, ABC Company reports
ABC Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2021, ABC Company reports the following activity:
Sales on account $2,100,000
Cash sales $1,110,000
Decrease in accounts receivable $915,000
Increase in accounts payable $108,000
Increase in inventory $72,000
Cost of goods sold 1,575,000
What is the amount of cash payments to suppliers reported by Alex Company for the year ended December 31, 2021?
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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J Weygandt, Paul D Kimmel, Jill E Mitchell
9th Edition
9781119754053
