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Swiftly Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31,2024, Swifty Company reports the following Sales on account $2100000, Cash Sales $1115000, Decrease in accounts receivable 920000, Increase in accounts payable 112000, increase in inventory 78000, Cost of good sold 1576000; What amount of cash payments to suppliers will be reported by Swifty Company for the year ended December 31, 2024?

Swiftly Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31,2024, Swifty Company reports the following Sales on account $2100000, Cash Sales $1115000, Decrease in accounts receivable 920000, Increase in accounts payable 112000, increase in inventory 78000, Cost of good sold 1576000; What amount of cash payments to suppliers will be reported by Swifty Company for the year ended December 31, 2024?

FINANCIAL ACCOUNTING
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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Swiftly Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31,2024, Swifty Company reports the following Sales on account $2100000, Cash Sales $1115000, Decrease in accounts receivable 920000, Increase in accounts payable 112000, increase in inventory 78000, Cost of good sold 1576000; What amount of cash payments to suppliers will be reported by Swifty Company for the year ended December 31, 2024?
Transcribed Image Text:Swiftly Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31,2024, Swifty Company reports the following Sales on account $2100000, Cash Sales $1115000, Decrease in accounts receivable 920000, Increase in accounts payable 112000, increase in inventory 78000, Cost of good sold 1576000; What amount of cash payments to suppliers will be reported by Swifty Company for the year ended December 31, 2024?
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