Question: Cost of merchandise sold reported on the income statement was 128976
Cost of merchandise sold reported on the income statement was $568,000. The accounts payable balance decreased $28,000, and the inventory balance decreased by $39,000 over the year. Determine the amount of cash paid for merchandise.
Answer to relevant QuestionsCost of merchandise sold reported on the income statement was $111,000. The accounts payable balance increased $5,700, and the inventory balance increased by $8,400 over the year. Determine the amount of cash paid for ...The income statement disclosed the following items for 2008:Depreciation expense .... $ 24,500Gain on disposal of equipment . 10,200Net income ......... 186,000Balances of the current assets and current liability accounts ...On the basis of the details of the following bonds payable and related discount accounts, indicate the items to be reported in the financing section of the statement of cash flows, assuming no gain or loss on retiring ...The income statement of Country Kitchen Bakeries Inc. for the current year ended June 30 is as follows:Changes in the balances of selected accounts from the beginning to the end of the current year are as follows:Prepare ...The comparative balance sheet of Gold Medal Sporting Goods Inc. for December 31, 2008 and 2007 is shown as follows:The following additional information was taken from the records:a. The investments were sold for $175,000 ...
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