Farley Company reported the following information for 2012:
-Operating expenses are: Salaries, $50,000; Depreciation, $20,000; Rent, $10,000; Utilities, $14,000.
-Operating expenses are paid during the month incurred.
-Accounts payable is used only for inventory acquisitions.
How much is the budgeted amount of cash to be paid for operating expenses in November?

Question

Farley Company reported the following information for 2012:  
-Operating expenses are: Salaries, $50,000; Depreciation, $20,000; Rent, $10,000; Utilities, $14,000.
-Operating expenses are paid during the month incurred.
-Accounts payable is used only for inventory acquisitions.
How much is the budgeted amount of cash to be paid for operating expenses in November?

Quizplus · Accepted Answer

The Answer of Farley Company reported the following information for 2012:  
-Operating expenses are: Salaries, $50,000; Depreciation, $20,000; Rent, $10,000; Utilities, $14,000.
-Operating expenses are paid during the month incurred.
-Accounts payable is used only for inventory acquisitions.
How much is the budgeted amount of cash to be paid for operating expenses in November?

Farley Company Reported the Following Information for 2012