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The financial statements of Garver,Inc. ,provide the following information for the current year:

-Compute the cash payments for purchases of merchandise during the current year.
A)$260,000
B)$250,000
C)$266,000
D)$254,000

Question

[The following information applies to the questions displayed below.]
The financial statements of Garver,Inc. ,provide the following information for the current year:
 
-Compute the cash payments for purchases of merchandise during the current year.
A)$260,000 
B)$250,000 
C)$266,000 
D)$254,000

Quizplus · Accepted Answer

The cash payments for purchases of merchandise during the current year is $266,000. This is calculated by adding the beginning balance of accounts payable to the purchases made during the year and then subtracting the ending balance of accounts payable.

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