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15 July, 15:19

At the beginning of the period, Utilities Payable equals $500. At the end of the period, Utilities Payable equals $700. If Utilities Expense for the period equals $1,500, what was the cash paid for utilities for the period?

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  1. 15 July, 15:59
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    Answer: $1,300

    Explanation:

    Beginning Period for Utilities = $500

    Ending Period for Utilities = $700

    Expenses for the period = $1,500

    Cash paid for the period =

    $500 + $1,500 = $2,000

    less ending period utilities bal = $700

    = $2,000 - $700 = $1,300

    Cash paid during the period is $1,300
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