Tolson Corp. had operating expenses of $48,000. At the beginning of the year, Tolson owed $10,000 on Accrued liabilities. At year-end, Accrued liabilities were $5,000. How much cash did Tolson pay for operating expenses?
Tolson Corp. had operating expenses of $48,000. At the beginning of the year, Tolson owed $10,000 on Accrued liabilities. At year-end, Accrued liabilities were $5,000. How much cash did Tolson pay for operating expenses?
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 13MCQ
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Q4) Tolson Corp. had operating expenses of $48,000. At the beginning of the year, Tolson owed $10,000 on Accrued liabilities. At year-end, Accrued liabilities were $5,000. How much cash did Tolson pay for operating expenses?
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