The Beatrice Manufacturing Company increased its merchandise inventory by $29,000 over the year. The company also granted its customers more liberal credit terms which increased the accounts receivable by $55,500. Sales were $1,035,000 and the accounts payable decreased by $51,500. The gross profit on sales is 45%. Marketing and administrative expenses were $169,000; this included depreciation expense of $28,000. What were the cash disbursements for the year? Multiple Choice $657,090. $790,750. $774,000. $755,000.

The Beatrice Manufacturing Company increased its merchandise inventory by $29,000 over the year. The company also granted its customers more liberal credit terms which increased the accounts receivable by $55,500. Sales were $1,035,000 and the accounts payable decreased by $51,500. The gross profit on sales is 45%. Marketing and administrative expenses were $169,000; this included depreciation expense of $28,000. What were the cash disbursements for the year? Multiple Choice $657,090. $790,750. $774,000. $755,000.

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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