Asked by Jessika Patterson on Jun 07, 2024
Verified
In computing cash payments for operating expenses a decrease in prepaid expenses is ______________ and an increase in accrued expenses payable is ______________ to (from) operating expenses exclusive of depreciation.
Prepaid Expenses
Expenses paid for in advance of the period in which they will be used or consumed, recorded as assets on a balance sheet until the benefit is received.
Accrued Expenses Payable
Liabilities for expenses that have been incurred but not yet paid, recorded on a company's balance sheet.
- Determine cash inflows and outflows resulting from operational processes.
Verified Answer
SB
Learning Objectives
- Determine cash inflows and outflows resulting from operational processes.
Related questions
Clare Company Had Total Operating Expenses of $185000 in 2016 ...
The General Ledger of Link Company Provides the Following Information ...
Dense Company's Income Statement Showed Revenues of $275000 and Operating ...
The Income Statement of Frank Company Is Shown Below Additional ...
The Income Statement for Jones Company Showed Cost of Goods ...