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Unformatted text preview: Sales $1,255,250 Less: Increase in accounts receivable 22,000 Cash collected from customers $1,233,250 Cash paid to suppliers Cost of merchandise sold $722,000 Less: Decrease in merchandise inventory 40,000 Increase in accounts payable 8,000 Cash paid to suppliers $674,000 Cash paid to employees Salary expense $252,100 Add: Decrease in salaries payable 24,750 Cash paid to employees $276,850 Cash paid for other expenses Other expenses $ 8,150 Add: Increase in prepaid expenses 2,000 Cash paid for other expenses $10,150 Cash paid for interest Interest expense $75,000 Less: Increase in interest payable 2,000 Cash paid for interest $73,000 Cash paid for income taxes: Income tax expense $43,000...
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This note was uploaded on 03/01/2012 for the course ACC all taught by Professor All during the Spring '12 term at University of Phoenix.
- Spring '12