Company's 2014 income statement reported cost of goods sold as $135,000. Additional information is as follows: December 31, 2014 Inventory $30,000 Accounts Payable $13,000 December 31, 2013 Inventory $22,500 Accounts Payable $19,500 If Company uses the DIRECT METHOD, what amount should Company report as cash paid to suppliers in its 2014 statement of cash flows?
Company's 2014 income statement reported cost of goods sold as $135,000. Additional information is as follows: December 31, 2014 Inventory $30,000 Accounts Payable $13,000 December 31, 2013 Inventory $22,500 Accounts Payable $19,500 If Company uses the DIRECT METHOD, what amount should Company report as cash paid to suppliers in its 2014 statement of cash flows?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Company's 2014 income statement reported cost of goods sold as $135,000. Additional information is as follows:
December 31, 2014 Inventory $30,000
Accounts Payable $13,000
December 31, 2013 Inventory $22,500
Accounts Payable $19,500
If Company uses the DIRECT METHOD, what amount should Company report as cash paid to suppliers in its 2014 statement of
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