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A company reported utilities expense of $275 million and cash paid for utilities of $240 million. What was the change in utilities payable for the period? a) $35 million increase b) $35 million decrease c) $25 million increase d) $515 million increase

A company reported utilities expense of $275 million and cash paid for utilities of $240 million. What was the change in utilities payable for the period? a) $35 million increase b) $35 million decrease c) $25 million increase d) $515 million increase

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 5MC
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A company reported utilities expense of $275 million and cash paid for utilities of $240 million. What was the change in utilities payable for the period? a) $35 million increase b) $35 million decrease c) $25 million increase d) $515 million increase
Transcribed Image Text:A company reported utilities expense of $275 million and cash paid for utilities of $240 million. What was the change in utilities payable for the period? a) $35 million increase b) $35 million decrease c) $25 million increase d) $515 million increase
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