the cost of goods sold during the year was $50,000 merchandise inventory as were $12,500 and $10,500 at the beginning and the end of the year respectively accounts payable all owed to merchandising suppliers were $6,000 and $5,000 at the beginning and the end of the year respectively using the direct method of reporting cash flows from operating activities cash payments for merchandise total 47,000 51,000 49,000
the cost of goods sold during the year was $50,000 merchandise inventory as were $12,500 and $10,500 at the beginning and the end of the year respectively accounts payable all owed to merchandising suppliers were $6,000 and $5,000 at the beginning and the end of the year respectively using the direct method of reporting cash flows from operating activities cash payments for merchandise total 47,000 51,000 49,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![the cost of goods sold during the year was
$50,000 merchandise inventory as were
$12,500 and $10,500 at the beginning and
the end of the year respectively accounts
payable all owed to merchandising
suppliers were $6,000 and $5,000 at the
beginning and the end of the year
respectively using the direct method of
reporting cash flows from operating
activities cash payments for merchandise
total
47,000
51,000
49,000
53,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6c06e076-5f9c-4694-b098-38cbbd7d0ed8%2Fb991cc79-43c1-48ef-bc9c-e1a46d915631%2Fj25pyiq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:the cost of goods sold during the year was
$50,000 merchandise inventory as were
$12,500 and $10,500 at the beginning and
the end of the year respectively accounts
payable all owed to merchandising
suppliers were $6,000 and $5,000 at the
beginning and the end of the year
respectively using the direct method of
reporting cash flows from operating
activities cash payments for merchandise
total
47,000
51,000
49,000
53,000
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