Reference no: EM132052566

Questions -

Question 1. Calculate the cash payment for income taxes for Markowitz Corporation based on the following information: income tax expense $93,000, $8,000 decrease in federal income taxes payable and $10,000 increase in state income taxes payable during the year.

$91,000

$85,000

$83,000

$75,000

Question 2. During the year Sibila Company increased its inventory by $75,000, cost of goods sold was 105,000, and accounts payable decreased by $11,000. Calculate the company's cash payments to suppliers.

$86,000

$116,000

$180,000

$191,000

Question3. Martinez, Inc. had the following information: cash sales $700,000, credit sales $1,350,000, and accounts receivable decreased by $50,000 for the year. Calculate how much money the company had received from its customers.

$2,000,000

$2,100,000

$2,050,000

$2,000,000

Question 4. Cruz Trading's beginning and ending balance accounts receivable for the year were $30,000 and $200,000 respectively, while the credit sales were $825,000. Calculate the cash collections from customers for the year.

$655,000

$625,000

$595,000

$555,000

Question 5. Bauer International's salaries payable decreased by $17,000 during the year. Calculate the cash paid to employees if salary expense was $215,000 for the year.

$198,000

$215,000

$232,000

$250,000