Determine what is the amount of the cash paid to suppliers

Assignment Help Financial Accounting
Reference no: EM132717990

Problem 1: If a company's Cost of Goods Sold is $159,000 for the period, beginning and ending Inventory balances are $18,500 and $13,500, respectively, and the beginning and ending Accounts Payable balances are $21,500 and $8,000, respectively, what is the amount of the cash paid to suppliers?

Reference no: EM132717990

Questions Cloud

Discuss the technical skills required : Discuss the technical skills required to have a CSIRT response team consisting of employees with other job duties (i.e., not a full-time CSIRT job category)?
Where the parent company does not hold equity : Where the parent company does not hold 100 percent equity of the subsidiary company, what portion of the intra-group transactions between the parent entity.
Journalize entries for conversion costs : During the month, 1,050 units are manufactured in the cell. The estimated materials cost is $46 per unit. Journalize entries for conversion costs
Testing for detection and intrusion of risks : Explain the importance of testing for the detection and intrusion of risks.
Determine what is the amount of the cash paid to suppliers : Determine what is the amount of the cash paid to suppliers? If a company's Cost of Goods Sold is $159,000 for the period, beginning and ending Inventory balance
Industry experts believe blockchain is technology : Industry experts believe blockchain is a technology that has the potential to affect the business of most IT professionals in the next five years.
How emerald co would record a debit of : Sold during this accounting period for $31,900 in cash, and purchased new equipment for cash of $148,700. Emerald Co. would record a debit of
What was logical assumption of decrease of patent account : Patent account decreased by $2,000 in 2019. During 2019 the company purchased patent in the amount of $7,000. What was the most logical assumption.
Discuss two short stories from the modern period : Discuss two short stories from the Modern Period, namely: How Much Land does a Man Need by Tolstoy and Metamorphosis by Kafka, in terms of their elements

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is the cost of goods available for sale

Bonita Industries for 2020, The cost of goods sold is equal to 400% of selling expenses. What is the cost of goods available for sale?

  Explain how supply chain and macroeconomic environment

Which costing system would be more efficient when direct materials and direct labor costs are high, and overhead costs are low and why? Which costing system would be more efficient when direct labor costs and direct materials are low, and overhead is..

  Compare and contrast the asset liability method

Discuss the criteria for recoginizing deferred tax assets and differed tax liabilities under the provisions of SFAS No. 109. Compare and contrast the asset-liability method and the deferred method.

  Prepare the necessary adjusting entry for inventory

Presented below is information related to Taylor Co. for the month of January 2014. Prepare the necessary adjusting entry for inventory

  Selling price newport should negotiate for the special order

Newport Manufacturing makes and sells backyard fire pits. Each fire pit regularly sells for $269. The following cost data per unit are based on a full capacity of 3,000 fire pits produced each period. What is the minimum selling price Newport should ..

  What is the amortization amount for every intangible asset

What is the amortization amount for every intangible asset in the existing year?

  Prepare journal entries for each transaction

Prepare journal entries for each transaction. Prepare the equity section of the balance sheet at each year-end, December 31.

  Completing a project valuation using dcf

When completing a project valuation using DCF; How to I incorporate working capital and capex in terminal year

  Prepare the lessee journal entries required on january

Prepare the lessee's journal entries required on January 1, 20X0, the commencement date of the lease, including payment of the legal fees.

  Compute the ratios using ratio analysis

Analyze Ryan Boot Company, using ratio analysis. Compute the ratios.

  What communications would you be required

The portfolio, which consisted of traded securities, had increased in market value by $5 million. Materiality for the audit was $10 million. What communications would you be required to make to those charged with governance?

  Calculate the cost of goods sold and gross profit

Calculate the Cost of goods sold and Gross profit.Beavercreek Company sold 14,000 jars of its organic honey in the most current year

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd