Question

Blackmon Company reported net income of $805,000 and cost of goods sold of $1,525,000 on its 2011 income statement. In addition, Blackmon reported an increase in inventory of $65,410, a decrease in prepaid insurance of $12,800, and a decrease in accounts payable of $43,190.

Required:
Compute the amount of cash payments to suppliers using the direct method.


$1.99
Sales0
Views34
Comments0
  • CreatedSeptember 22, 2015
  • Files Included
Post your question
5000