Sellers Corporation reports operating expenses of $90,000, excluding depreciation expense of $15,000 for 2014. During the year, prepaid expenses decreased $7,200 and accrued expenses payable increased $4,400. Compute the cash payments for operating expenses in 2014.
Answer to relevant QuestionsMorray Corporation had the following transactions. 1. Issued $160,000 of bonds payable. 2. Paid utilities expense. 3. Issued 500 shares of preferred stock for $45,000. 4. Sold land and a building for $250,000. 5. Loaned ...Cosi Company reported net income of $190,000 for 2014. Cosi also reported depreciation expense of $35,000 and a loss of $5,000 on the disposal of plant assets. The comparative balance sheet shows an increase in accounts ...Metzger Company completed its first year of operations on December 31, 2014. Its initial income statement showed that Metzger had sales revenue of $198,000 and operating expenses of $83,000. Accounts receivable and accounts ...Data for Thornton Company are presented in P12-5A.InstructionsPrepare the operating activities section of the statement of cash flows using the direct method.Data for Mosley Company are presented in P12-5B.InstructionsPrepare the operating activities section of the statement of cash flows using the direct method.
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