The income statement for Bonita Company showed cost of goods sold of $81,800 and operating expenses of $65,600. The comparative balance sheets for the year show that inventory decreased $5,600, prepaid expenses increased $7,600, accounts payable increased $3,600, and accrued expenses payable decreased $5,600. Compute cash payments to suppliers and cash payments for operating expenses using the direct method. Cash payments to suppliers $ Cash payments for operating expenses $
The income statement for Bonita Company showed cost of goods sold of $81,800 and operating expenses of $65,600. The comparative balance sheets for the year show that inventory decreased $5,600, prepaid expenses increased $7,600, accounts payable increased $3,600, and accrued expenses payable decreased $5,600. Compute cash payments to suppliers and cash payments for operating expenses using the direct method. Cash payments to suppliers $ Cash payments for operating expenses $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject: acounting
Transcribed Image Text:The income statement for Bonita Company showed cost of goods sold of $81,800 and operating expenses of $65,600. The
comparative balance sheets for the year show that inventory decreased $5,600, prepaid expenses increased $7,600, accounts payable
increased $3,600, and accrued expenses payable decreased $5,600.
Compute cash payments to suppliers and cash payments for operating expenses using the direct method.
Cash payments to suppliers
Cash payments for operating expenses $
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