Question
Davis Company uses the direct method to prepare its statement of cash flows. Refer to the following information reported for the year 2014: Operating expenses,
Davis Company uses the direct method to prepare its statement of cash flows. Refer to the following information reported for the year 2014:
Operating expenses, $26,000
Accrued Liabilities, beginning balance, $3,000
Accrued Liabilities, ending balance, $5,000
What amount was paid to suppliers for operating expenses on a cash basis?
A.$29,000
B.$24,000
C.$31,000
D.$28,000
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Bank Management Text And Cases
Authors: George H. Hempel, Alan B. Coleman, Donald G. Simonson
3rd Edition
0471621781, 978-0471621782
