Swiftly Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31,2024, Swifty Company reports the following Sales on account $2100000, Cash Sales $1115000, Decrease in accounts receivable 920000, Increase in accounts payable 112000, increase in inventory 78000, Cost of good sold 1576000; What amount of cash payments to suppliers will be reported by Swifty Company for the year ended December 31, 2024?

Swiftly Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31,2024, Swifty Company reports the following Sales on account $2100000, Cash Sales $1115000, Decrease in accounts receivable 920000, Increase in accounts payable 112000, increase in inventory 78000, Cost of good sold 1576000; What amount of cash payments to suppliers will be reported by Swifty Company for the year ended December 31, 2024?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 24CE

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