Question Details

Calculate the amount of cash payments for operating expenses 



1
Schick Company reported cost of goods sold of €172,000 on its 2011 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.


a2
Hiller Company had total operating expenses of $155,000 in 2011, which included depreciation expense of $25,000. Also during 2011, prepaid expenses decreased by $9,000 and accrued expenses increased by $7,500.

Instructions
Calculate the amount of cash payments for operating expenses in 2011 using the direct method.




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