The Merchandise Inventory for Year 1 Was $100,000 and for Year

question 29

Multiple Choice

The Merchandise Inventory for Year 1 was $100,000 and for Year 2 was $94,000.The Accounts Payable account for Year 1 was $40,000 and for Year 2 was $42,000.Cost of goods sold for Year 2 was $460,000.What was the total amount for cash payments for merchandise for Year 2?

• A)$448,000
• B)$449,000
• C)$452,000
• D)$456,000
• E)$84,000

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Definitions:

Maxillary

Pertaining to the maxilla, the upper jawbone that forms part of the facial structure.

Lacrimal

Relating to the tears or the glands that produce tears, involved in lubricating and protecting the eye.

Mandible

The lower jawbone, which is the largest and strongest bone of the face and holds the lower teeth.

Squamous Suture

A cranial suture located between the parietal and temporal bones of the skull.