The financial statements for Ozzie Company show the following: How much cash was paid for merchandise?
A) $124,000.
B) $117,000.
C) $121,000.
D) $119,000.

Question

The financial statements for Ozzie Company show the following:  How much cash was paid for merchandise?
A) $124,000. 
B) $117,000. 
C) $121,000. 
D) $119,000.

Quizplus · Accepted Answer

To determine the cash paid for merchandise, we need to look at the "Cash Flows from Operating Activities" section, specifically the line item "Payments to suppliers for inventory." This amount is $119,000, which corresponds to choice D.

The Financial Statements for Ozzie Company Show the Following