The following information was taken from the 2021 financial statements of Jenny Gardner Corporation: Inventory, January 1, 2021 Inventory, December 31, 2021 Accounts payable, January 1, 2021 Accounts payable, December 31, 2021 Sales revenue Cost of goods sold $ 180,000 240,000 150,000 240,000 $830,000 $950,000 $890,000 $770,000 1,200,000 800,000 If the direct method is used in the 2021 statement of cash flows, what amount should Jenny Gardner report as cash payments to suppliers?
The following information was taken from the 2021 financial statements of Jenny Gardner Corporation: Inventory, January 1, 2021 Inventory, December 31, 2021 Accounts payable, January 1, 2021 Accounts payable, December 31, 2021 Sales revenue Cost of goods sold $ 180,000 240,000 150,000 240,000 $830,000 $950,000 $890,000 $770,000 1,200,000 800,000 If the direct method is used in the 2021 statement of cash flows, what amount should Jenny Gardner report as cash payments to suppliers?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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
Transcribed Image Text:The following information was taken from the 2021 financial statements of Jenny Gardner
Corporation:
Inventory, January 1, 2021
Inventory, December 31, 2021
Accounts payable, January 1, 2021
Accounts payable, December 31, 2021
Sales revenue
Cost of goods sold
$ 180,000
240,000
150,000
240,000
1,200,000
800,000
If the direct method is used in the 2021 statement of cash flows, what amount should Jenny
Gardner report as cash payments to suppliers?
$830,000
$950,000
$890,000
$770,000
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