Current Attempt in ProgressSuppose the 2022 income statement for McDonald's Corporation shows cost of goods sold $4,854.8 million and operating expenses(including depreciation expense of $1,236.0 million) $10,689.8 million. The comparative balance sheets for the year show thateventory decreased $5,5 million, prepaid expenses increased $44.4 million, accounts payable finventory suppliers) increased $150million and accrued expenses payable increased $198.0 millionUsing the direct method, compute (a) cash payments to suppliers and (b) cash payments for operating expenses. (Enter answers inmillions to 1 decimal place, ea. 527.5)Cash payments to suppliersCash payments for operating expensesmillionmillion

Cash payment to suppliers = Cost of goods sold - Decrease in inventory - Increase in accounts…

Suppose the 2022 income statement for McDonald's Corporation shows cost of goods sold $4,854.8 million and operating expenses (including depreciation expense of $1,236.0 million $10.689.8 million. The comparative balance sheets for the year show that eventory decreased $5,5 million, prepaid expenses increased $44.4 million, accounts payable inventory suppliers increased $150 million, and accrued expenses payable increased $198.0 million Using the direct method, compute(al cash payments to suppliers and thi cash payments for operating experises. Enter answers in inions to 1 decimal place, ea 527.5) Cash payments to suppliers Cash payments for operating expenses million million

Suppose the 2022 income statement for McDonald's Corporation shows cost of goods sold $4,854.8 million and operating expenses (including depreciation expense of $1,236.0 million $10.689.8 million. The comparative balance sheets for the year show that eventory decreased $5,5 million, prepaid expenses increased $44.4 million, accounts payable inventory suppliers increased $150 million, and accrued expenses payable increased $198.0 million Using the direct method, compute(al cash payments to suppliers and thi cash payments for operating experises. Enter answers in inions to 1 decimal place, ea 527.5) Cash payments to suppliers Cash payments for operating expenses million million

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Suppose the 2022 income statement for McDonald's Corporation shows cost of goods sold $4,878.8 million and operating expenses (including depreciation expense of $1,226.0 million) $10,671.1 million. The comparative balance sheets for the year show that inventory decreased $7.4 million, prepaid expenses increased $43.4 million, accounts payable (inventory suppliers) increased $19.1 million, and accrued expenses payable increased $195.8 million. Using the direct method, compute (a) cash payments to suppliers and (b) cash payments for operating expenses. (Enter answers in millions to 1 decimal place, e.g. 527.5.) Cash payments to suppliers $ Cash payments for operating expenses $ million million
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