Determining selected amounts for cash flows from operating activities—direct method selected data taken from the accounting records of ginis inc. for the current year ended december 31 are as follows: balance, december 31 balance, january 1 accrued expenses payable (operating expenses) $12,650 $14,030 accounts payable (merchandise creditors) 96,140 105,800 inventories 178,020 193,430 during the current year, the cost of merchandise sold was $1,031,550 and the operating expenses other than depreciation were $179,400. the direct method is used 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. $ 1,025,800 b. determine the amount reported on the statement of cash flows for cash payments for operating expenses.

Assume that all of thurmond company’s sales are credit sales. it has been the practice of thurmond company to provide for uncollectible accounts expense at the rate of one-half of one percent of net credit sales. for the year 20x1 the company had net credit sales of $2,021,000 and the allowance for doubtful accounts account had a credit balance, before adjustments, of $630 as of december 31, 20x1. during 20x2, the following selected transactions occurred: jan. 20 the account of h. scott, a deceased customer who owed $325, was determined to be uncollectible and was therefore written off. mar. 16 informed that a. nettles, a customer, had been declared bankrupt. his account for $898 was written off. apr. 23 the $906 account of j. kenney & sons was written off as uncollectible. aug. 3 wrote off as uncollectible the $750 account of clarke company. oct. 20 wrote off as uncollectible the $1,130 account of g. michael associates. oct. 27 received a check for $325 from the estate of h. scott. this amount had been written off on january 20 of the current year. dec. 20 cater company paid $7,000 of the $7,500 it owed thurmond company. since cater company was going out of business, the $500 balance it still owed was deemed uncollectible and written off. required: prepare journal entries for the december 31, 20x1, and the seven 20x2 transactions on the work sheets provided at the back of this unit. then answer questions 8 and 9 on the answer sheet. t-accounts are also provided for your use in answering these questions. 8. which one of the following entries should have been made on december 31, 20x1?

Why should managers invest any excess cash

20. to add body to a hearty broth, you may use a. onions. b. pasta. c. cheese. d. water.