Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Bonita Industries prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2021, Bonita Industries reports
Bonita Industries prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2021, Bonita Industries reports the following activity:
Sales on account $2030000 Cash sales 1104000 Decrease in accounts receivable 920000 Increase in accounts payable 109000 Increase in inventory 80000 Cost of goods sold 1570000
What is the amount of cash payments to suppliers reported by Bonita Industries for the year ended December 31, 2021?
$1759000
$1541000
$1599000
$1381000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started