In its year end income statement, Black Knights Company reported cost of goods sold of $ 450,000 Changes occurred in several balance sheet accounts during the year as follows What amount should the Black Knights Company report as cash paid to suppliers in its cash flow statement, prepared under the...

Choice b is correct In order to compute the cash paid ...

In its year- end income statement, Black Knights Company reported cost of goods sold of $ 450,000.

Question:

In its year- end income statement, Black Knights Company reported cost of goods sold of $ 450,000. Changes occurred in several accounts during the year as follows:

What amount should the Black Knights Company report as cash paid to suppliers in its cash flow statement, prepared under the direct method?
a. $ 250,000
b. $ 330,000
c. $ 570,000
d. $ 650,000

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...