Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information was taken from the 2021 financial statements of Bramble Corp.: Inventory, January 1, 2021 $ 185000 Inventory, December 31, 2021 243000 Accounts

The following information was taken from the 2021 financial statements of Bramble Corp.:

Inventory, January 1, 2021 $ 185000
Inventory, December 31, 2021 243000
Accounts payable, January 1, 2021 155000
Accounts payable, December 31, 2021 241000
Sales revenue 1150000
Cost of goods sold 790000

If the direct method is used in the 2021 statement of cash flows, what amount should Bramble report as cash payments to suppliers?

$762000

$934000

$818000

$876000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

Personal role: This consists of service to family and friends.

Answered: 1 week ago