ion The folowing information applies to the questions displayed belowJ The finan

Question

ion The folowing information applies to the questions displayed belowJ The financial statements of York, Inc.. provide the tollowing information for the current year Dec.31 Accounts receivable Jan Inventory Prepaid expenses Accounts payable (for merchandise) 136, 500 120,750 s 131, 250 126,000 33, 600 s 31,500 118, 650 s 118, 650 110,775 Accrued expenses payable Net sales Cost of goods sold $33, 075 s 36,225 $1,548, 750 s 813, 750 Operating expenses (including depreciation of $47,250) 183, 750 Compute the amount of cash payments for operating expenses Select one O a. s138,600 O b. $141,750 O c. $189,000 O d. $174,825

Explanation / Answer

Calculate cash payment for operating expenses :

so answer is b) $141750

Operating expenses 183750 Less: Depreciation exp (47250) Add: Increase prepaid exp 2100 Add: Decrease accured expenses payable 3150 Cash payment to operating expenses 141750

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