Determining selected Amounts for Cathostrom Operating Activ-Oect Hethod Selected data taken from the accounting records...
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Determining selected Amounts for Cathostrom Operating Activ-Oect Hethod Selected data taken from the accounting records of GinnFor the current year ended December 31 are as follows: Balonce, December 31 Balance, January 1 Accrued expenses payable operating expenses) $6,610 $7.220 Accounts payable (merchandise creditors) 34,450 38,020 Inventories 65.380 71,060 During the current year, the cost of merchandise sold was $281.400, and the operating expenses other than depreciation were 588,300The direct method is for presenting the cash flows from operating activities on the statement of cash flows. a. Determine the amount reported on the statement of cash flows for cash payments for merchandise 412,330 X b. Determine the amount reported on the statement of cash flows for cash payments for operating expenses
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