1. Supplies expense was 100 for the year. Supplies increased from 100 to 110 during the year. What was cash paid for sup...

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1. Supplies expense was 100 for the year. Supplies increased from 100 to 110 during the year. What was cash paid for sup...

1. Supplies expense was 100 for the year. Supplies increased from 100 to 110 during the year. What was cash paid for supplies?

2. Tax expense was 1000 for the year. Tax payable went from 1000 to 1500. What was cash paid for taxes?

business accounting

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Answer 1

Answer #1

1. Cash paid for supplies = Supplies expense + Increase in supplies

= 100+(110-100)

= 110

2. Cash paid for taxes = tax expense - increase in tax payable

= 1000 -(1500-1000)

= 500

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Answer 2

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