Locey Corporation reports operating expenses of $90,000 excluding depreciation expense of $15,000 for 2010. During the year

Question:

Locey Corporation reports operating expenses of $90,000 excluding depreciation expense of $15,000 for 2010. During the year prepaid expenses decreased $6,600 and accrued expenses payable increased $4,400. Compute the cash payments for operating expenses in 2010.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...