Hello tutor provide answer this question The cost of merchandise sold during the year was$45,504. Merchandise inventories were $13,104 and$8,815 at the beginning and end of the year, respectively.Accounts payable were $7,392 and $3,952 at thebeginning and end of the year, respectively.Using the direct method of reporting cash flows fromoperating activities, cash payments for merchandisetotal:a. $45,504b. $44,655c. $7,392d. $37,775

Step 1: Define Cash Flow from Operating Activities (Direct Method)By adding the cash receipts to the…

Answered: The cost of merchandise sold during the…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter6: Statement Of Cash Flows

Section: Chapter Questions

Problem 14E

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Smoltz Company reported the following information for the current year: cost of goods sold, $252,500; increase in inventory, $21,700; and increase in accounts payable, $12,200. What is the amount of cash paid to suppliers that Smoltz would report on its statement of cash flows under the direct method? a. $218,600 c. $262,000 b. $243,000 d. $286,400
The cost of merchandise sold during the year was $51,768. Merchandise inventories were $13,894 and $8,414 at the beginning and end of the year, respectively. Accounts payable (all owed to merchandise suppliers) were $5,591 and $3,814 at the beginning and end of the year, respectively. Using the direct method of reporting cash flows from operating activities, cash payments for merchandise total a.$5,591 b.$51,768 c.$44,511 d.$48,065
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The cost of merchandise sold during the year was $45,245. Merchandise inventories were $13,491 and $8,567 at the beginning and end of the year, respectively. Accounts payable were $5,962 and $3,677 at the beginning and end of the year, respectively. Using the direct method of reporting cash flows from operating activities, cash paid for merchandise during the year is
Sales for the year were $551,730. Accounts receivable were $107,769 and $86,221 at the beginning and end of the year. Determine the cash received from customers to be reported on the cash flow statement using the direct method. Select the correct answer. a-$573,278 b-$594,826 c-$659,499 d-$551,730
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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Use the following information to determine the amount of cash paid for merchandise. Show calculations. Cost of merchandise sold per income statement 262,000 Accounts payable balance change during period (19,000) Inventory balance change during period 5,000
Cash paid for merchandise purchases The cost of merchandise sold for Kohl's Corporation for a recent yearwas $12,165 million. The balance sheet showed the following current account balances (inmillions): Balance,End of Year Balance,Beginning of Year Merchandise inventories $4,038 $3,814 Accounts payable 1,251 1,511 Determine the amount of cash payments for merchandise.
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