Orange Beverages Plc., a fi ctitious manufacturer of tropical drinks, reported cost ofgoods sold for the year of $100 million. Total assets increased by $55 million, but inventory declined by $6 million. Total liabilities increased by $45 million, but accountspayable decreased by $2 million. How much cash did the company pay to its suppliersduring the year?A . $96 million.B . $104 million.C . $108 million.
Orange Beverages Plc., a fi ctitious manufacturer of tropical drinks, reported cost ofgoods sold for the year of $100 million. Total assets increased by $55 million, but inventory declined by $6 million. Total liabilities increased by $45 million, but accountspayable decreased by $2 million. How much cash did the company pay to its suppliersduring the year?A . $96 million.B . $104 million.C . $108 million.
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
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...
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Orange Beverages Plc., a fi ctitious manufacturer of tropical drinks, reported cost of
goods sold for the year of $100 million. Total assets increased by $55 million, but inventory declined by $6 million. Total liabilities increased by $45 million, but accounts
payable decreased by $2 million. How much cash did the company pay to its suppliers
during the year?
A . $96 million.
B . $104 million.
C . $108 million.
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