Question Details

Cost of goods sold for the year amounted 


1.	Cost of goods sold for the year amounted to $130,000, and during the year, accounts payable ______________ by $8,000 and inventory ______________ by $7,000 resulting in cash paid to suppliers of $115,000.


	2.	In computing cash payments for operating expenses, a decrease in prepaid expenses is ______________ and an increase in accrued expenses payable is ______________ to (from) operating expenses, exclusive of depreciation.

	3.	In computing cash payments for income taxes, a decrease in income taxes payable is ______________ to (from) income tax expense.





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