Question Details

During the year, Salaries Payable decreased 




1.	Squeeze Company reports the following:
	End of Year	Beginning of Year
Inventory	$25,000	$42,000
Accounts Payable	22,000	12,000
If cost of goods sold for the year is $220,000, the amount of cash paid to suppliers is
a.	$227,000.
b.	$205,000.
c.	$193,000.
d.	$247,000.


	2.	During the year, Salaries Payable decreased by $5,000. If Salary Expense amounted to $174,000 for the year, the cash paid to employees (including deductions from gross pay) is
a.	$179,000.
b.	$174,000.
c.	$169,000.
d.	$184,000.


	3.	Ale Company reports a $16,000 increase in inventory and a $8,000 increase in accounts payable during the year. Cost of Goods Sold for the year was $150,000. The cash payments made to suppliers were
a.	$150,000.
b.	$158,000.
c.	$126,000.
d.	$174,000.


4.	LRRP Company had credit sales of $650,000. The beginning accounts receivable balance was $15,000 and the ending accounts receivable balance was $140,000. What were the cash collections from customers during the period?
a.	$775,000
b.	$650,000
c.	$525,000
d.	$665,000


5.	Marke Inc. had cash sales of $400,000 and credit sales of $1,150,000. The accounts receivable balance increased $30,000 during the year. How much cash did Hark receive from its customers during the year?
a.	$1,520,000
b.	$1,120,000
c.	$1,550,000
d.	$780,000





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