Martinez Corporation had January 1 and December 31 balances as follows. 1/1/20 12/31/20 Inventory $94,000 $108,000 Accounts payable 69,000 78,000 For 2020, cost of goods sold was $440,000. Compute Martinez’s 2020 cash payments to suppliers. Cash payments to suppliers $
Martinez Corporation had January 1 and December 31 balances as follows. 1/1/20 12/31/20 Inventory $94,000 $108,000 Accounts payable 69,000 78,000 For 2020, cost of goods sold was $440,000. Compute Martinez’s 2020 cash payments to suppliers. Cash payments to suppliers $
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 7MC
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Question
7.
Martinez Corporation had January 1 and December 31 balances as follows.
|
1/1/20
|
12/31/20
|
|||
| Inventory | $94,000 | $108,000 | ||
| Accounts payable | 69,000 | 78,000 |
For 2020, cost of goods sold was $440,000.
Compute Martinez’s 2020 cash payments to suppliers.
| Cash payments to suppliers |
$
|
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