How much cash did Happy Toy pay for purchases

Assignment Help Financial Accounting
Reference no: EM132886361

Question - Happy Toy Company began 20X9 with $1,000 in inventory and $4,500 in accounts payable. During the year, Happy Toy incurred cost of goods sold of $25,000. Happy Toy ended 20X9 with $2,700 in inventory and $3,800 in accounts payable. How much cash did Happy Toy pay for purchases during 20X9?

Reference no: EM132886361

Questions Cloud

Appropriate important in canadian collective bargaining : Explain what factors labour boards consider when deciding whether a bargaining unit is appropriate for collective bargaining.
News stories and public pressure drive government regulation : News stories and public pressure drive government regulations. They also drive many industries to more self-regulation
What happens in each stage of the change process : Describe what happens in each stage of the change process, according to Lewin's Process Model.
Discuss the constitutional history : Research a federal public policy topic. Using best practices for objectivity and research quality, discuss the constitutional history, the political and social
How much cash did Happy Toy pay for purchases : Happy Toy Company began 20X9 with $1,000 in inventory and $4,500 in accounts payable. How much cash did Happy Toy pay for purchases
Explain the key benefits of associating with gkm : Explain the key benefits of associating with GKM Explain the benefits of outsourcing certain finance functions of your clients
Construction management : What are the Stages of a VE study? How much retainage is usually taken out each pay period? When will the GC get the funds back?
Define the importance of hrm : Define the importance of HRM and explain why effective HRM skills improve the organization productivity.
How feasibility of compensation and benefits : How feasibility of compensation and benefits can be implemented for reducing the turnover rate?

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is the amount of additional paid in capital

What is the amount of additional paid? what is the earnings per share, assuming the weighted average shares outstanding is equal to the shares outstanding?

  Complete the last three columns of the tables

Complete the last three columns of the tables.The following tables list the hours worked by an employee over the period of a month. There are no compressed work

  What is comfy home net cash from operating activities

The company did not take out any new loans, but paid off part of an existing loan with cash. What is Comfy Home's net cash from operating activities?

  Calculate both firms inventory turnover ratio

The following information was taken from Moser & Company’s 2015 annual report: Net inventories reported on the balance sheet were $1,553 and 1,295 for years 2015 and 2014, respectively. Replacement cost exceeded LIFO value by $978 and $1,054 for year..

  Evaluate value assigned to the property

The board of directors of the entity receiving the property should guess a value for the property that will serve as a basis for the transaction

  What is the horizontal analysis

Income shows the company's position and performance, why do you think there is a need to analyze and measure these results using ratio analysis?

  Find the WACC of William Tell Computers

Find the WACC of William Tell Computers. The total book value of the firm's equity is $15 million; book value per share is $30

  Compute correct amount of the physical inventory at november

Compute the correct amount of the physical inventory at November 30, 2007. Assume that the correct amount of the inventory at November 30, 2007 was $57,700. Compute the amount of the inventory at December 31, 2007.

  Show financial statement effect of payment of case dividend

Use the template below to show the financial statement effects of the following events. Declaration and payment of the cash dividend on the preferred stock.

  Prepare a cost of production report

The increases to Work in Process-Cooking Department for Boston Beans Company for January 2008 as well as information concerning production are as follows.

  The following transactions adjusting entries and closing

the following transactions adjusting entries and closing entries were completed by king furniture co. during a

  Determining the project npv-irr in mirr

The project cost of capital is 10 per cent . what is the project pay back period, what is the project NPV, what is the project IRR in MIRR

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