The following information was taken from the 2021 financial statements of Crane Company: Inventory, January 1, 2021 $ 170000 Inventory, December 31, 2021 230000 Accounts payable, January 1, 2021 140000 Accounts payable, December 31, 2021 230000 Sales revenue 1100000 Cost of goods sold 790000 If the direct method is used in the 2021 statement of cash flows, what amount should Crane report as cash payments to suppliers?
The following information was taken from the 2021 financial statements of Crane Company: Inventory, January 1, 2021 $ 170000 Inventory, December 31, 2021 230000 Accounts payable, January 1, 2021 140000 Accounts payable, December 31, 2021 230000 Sales revenue 1100000 Cost of goods sold 790000 If the direct method is used in the 2021 statement of cash flows, what amount should Crane report as cash payments to suppliers?
Chapter16: Statement Of Cash Flows
Section: Chapter Questions
Problem 6PA: Use the following information from Eiffel Companys financial statements to prepare the operating...
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The following information was taken from the 2021 financial statements of Crane Company:
Inventory, January 1, 2021 | $ 170000 |
Inventory, December 31, 2021 | 230000 |
Accounts payable, January 1, 2021 | 140000 |
Accounts payable, December 31, 2021 | 230000 |
Sales revenue | 1100000 |
Cost of goods sold | 790000 |
If the direct method is used in the 2021 statement of cash flows, what amount should Crane report as cash payments to suppliers?
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