Selected data taken from the accounting records of Ginis Inc. for the current year ended December are as follows:
Balance December Balance, January Accrued expenses payable operating expenses$$Accounts payable merchandise creditorsInventoriesPrepaid expenses
During the current year, the cost of goods sold was $ and the operating expenses other than depreciation were $ The direct method is used for presenting the cash flows from operating activities on the statement of cash flows.
aDetermine the amount reported on the statement of cash flows for cash payments for merchandise.
$fill in the blank
bDetermine the amount reported on the statement of cash flows for cash payments for operating expenses.
$fill in the blank
