Short Problems 1.Accrued wages payable on December 31, 2008 and 2009 are $9,000 and $4,000, respectively. During 2009, wages expense is $36,000. Calculate the amount of cash paid for wages during 2009. 2.Graham, Inc. experienced the following changes in its cash balance during the current calendar year: Increases in Cash: From customers $6,000 Sale of investments 3,000 Collection of interest 800 Issue of common stock 3,000 Decreases in Cash: Payment to suppliers $3,000 Wages 1,000 Purchase of building 3,000 Payment of interest 400 Retirement of long-term debt 600 Payment of dividends 500 Payment of salespersons’ commissions 200 Prepare, in good form, a cash flow statement for the current year. 3.Beginning and ending balances for relevant balance sheet accounts are as follows: 12/31/09 1/01/09 Merchandise inventory $32,000 $21,000 Accounts payable 15,000 8,000 During 2009, cost of goods sold was $102,000. Calculate the amount of cash paid to suppliers of merchandise inventory.

Short Problems 1.Accrued wages payable on December 31, 2008 and 2009 are $9,000 and $4,000, respectively. During 2009, wages expense is $36,000. Calculate the amount of cash paid for wages during...

Short Problems

1.Accrued wages payable on December 31, 2008 and 2009 are $9,000 and $4,000, respectively. During 2009, wages expense is $36,000. Calculate the amount of cash paid for wages during 2009.

2.Graham, Inc. experienced the following changes in its cash balance during the current calendar year:

Increases in Cash:
From customers	$6,000
Sale of investments	3,000
Collection of interest	800
Issue of common stock	3,000
Decreases in Cash:
Payment to suppliers	$3,000
Wages	1,000
Purchase of building	3,000
Payment of interest	400
Retirement of long-term debt	600
Payment of dividends	500
Payment of salespersons’ commissions	200

Prepare, in good form, a cash flow statement for the current year.

3.Beginning and ending balances for relevant balance sheet accounts are as follows:

	12/31/09	1/01/09
Merchandise inventory	$32,000	$21,000
Accounts payable	15,000	8,000

During 2009, cost of goods sold was $102,000. Calculate the amount of cash paid to suppliers of merchandise inventory.

May 15, 2022

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Short Problems 1.Accrued wages payable on December 31, 2008 and 2009 are $9,000 and $4,000, respectively. During 2009, wages expense is $36,000. Calculate the amount of cash paid for wages during...

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