Gates Corporation reported utilities expense of $112,800 on its income statement for 2014.For the year,The the beginning balance in Uutilities Ppayable was $8,000 and the ending balance was $4,000.The amount of cash that Gates paid for utilities in 2014during the year was $116,800.

Question

Quizplus · Accepted Answer

Beginning balance of Utilities Payable + Utilities expense - Cash outflows for utilities = Ending balance of Utilities Payable

Gates Corporation Reported Utilities Expense of $112,800 on Its Income