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NO EXPLANATION NECESSARY, just the final answer for 4 MC questions, it would help me tremendously! (thumbs up) 179 Use the following information about the
NO EXPLANATION NECESSARY, just the final answer for 4 MC questions, it would help me tremendously! (thumbs up)
179 Use the following information about the current year's operations of a company to calculate the cash paid for merchandise. Cost of goods sold Merchandise inventory, January 1 Merchandise inventory, December 31 Accounts payable, January 1 Accounts payable, December 31 $600,000 95,000 117,000 88,000 70,000 Multiple Choice O $560,000 O $695,000 O $640,000 O $622,000 O $618,000. 180 In preparing a company's statement of cash flows using the indirect method, the following information is available: Net income Accounts payable decreased by Accounts receivable increased by Inventories increased by Depreciation expense $84,000 34,000 41,000 21,000 62,000 Net cash provided by operating activities was: Multiple Choice O $50,000 O $84,000. O $160,000. O $118,000. O O $76,000. 181 Landmark buys $310,000 of SRW Company's 6%, 3-year bonds payable, at par value on July 1. Interest payments are made semiannually on December 31 and June 30. The journal entry Landmark should make to record interest earned at year-end December 31 is: Multiple Choice 0 O Debit Cash $18,600, credit Interest Revenue $18,600. 0 Debit Interest Revenue $9,300, credit Cash $9,300. 0 Debit Cash $3,100, credit Interest Revenue $3,100. 0 Debit Cash $9,300, credit Interest Revenue $9,300. 0 Debit Interest Receivable $9,300, credit Interest Revenue $9,300. 182 Memphis Company's May sales budget calls for sales of $960,000. The store expects to begin May with $56,000 of inventory and to end the month with $61,000 of inventory. Gross margin is typically 45% of sales. Compute the budgeted cost of merchandise purchases for May. Multiple Choice 0 $528,000 0 $432,000 O $523,000 O $437,000. O $533,000Step by Step Solution
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