Question

Refer to Exhibit 6.18, which provides items from the financial statements of Infotech Corporation.
Exhibit 6.18.
Sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 14,508
Cost of Goods Sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (11,596)
Depreciation Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (114)
Other Expenses, Including Salaries and Wages Expense . . . . . . (2,276)
Income Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (210)
Net Income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 312
DATA FROM BEGINNING- AND END-OF-YEAR BALANCE SHEETS
Accounts Receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $782 Decrease
Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66 Decrease
Prepayments for Other Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102 Decrease
Accounts Payable for Inventories. . . . . . . . . . . . . . . . . . . . . . . . . 90 Increase
Current Liabilities for Wages and Salaries Payable. . . . . . . . 240 Decrease

a. How much cash did Infotech pay during the year to its suppliers of goods?
b. How much cash did Infotech pay during the year to its employees and suppliers of other services?



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  • CreatedMarch 04, 2014
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