Question Details

Show Company had total operating expenses 




1
Small Company reported cost of goods sold of $179,000 on its 2014 income statement. The company- beginning inventory was $35,000. The ending inventory was valued at $40,000. The Accounts Payable balance at January 1 was $25,000. The December 31 balance in Accounts Payable was $22,000. 

Instructions
Compute cash payments to suppliers.


2
Show Company had total operating expenses of $153,000 in 2014, which included Depreciation Expense of $30,000. Also during 2014, prepaid expenses decreased by $9,500 and accrued expenses increased by $8,500.

Instructions
Calculate the amount of cash payments for operating expenses in 2012 using the direct method.



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