Question: Electronic Superstore s inventory increases during the year by 5 million
Electronic Superstore’s inventory increases during the year by $5 million, and its accounts payable to suppliers increases by $7 million during the same period. What is the amount of cash paid to suppliers of merchandise during the reporting period if its cost of goods sold is $45 million?
Answer to relevant QuestionsWireless Solutions reports operating expenses of $985,000. Operating expenses include both rent expense and salaries expense. Prepaid rent increases during the year by $30,000 and salaries payable increases by $20,000. What ...Wi-Fi, Inc., has the following selected transactions during the year.1. Issues $20 million in bonds. 2. Purchases equipment for $80,000. 3. Pays a $20,000 account payable. 4. Collects a $15,000 account receivable. 5. ...Refer to the information provided for Peach Computer in E11–11. In E11–11, Portions of the financial statements for Peach Computer are provided below.Required: Prepare the operating activities section of the statement ...Zoogle has the following selected data ($ in millions):Net sales ............ $37,905Net income ........... 9,737Operating cash flows ....... 14,565Total assets, beginning ..... 57,851Total assets, ending ...Cash flows from operating activities for both the indirect and direct methods are presented for Reverse Logic. All amounts are in thousands (000s).Required: Complete the following income statement for Reverse Logic. Assume ...
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