At the start of the period the accounts payable balance was P75,000 and the unused supplies has a balance of P5,000. Total purchases on account amounted to P180,000 during the period including the supplies purchase of P15,000. At the end of the year, the unused supplies balance is P5,000 and the accounts payable balance is P40,000. The supplies expense for the period is P20,000 P15,000 P4,500 P 15,500

At the start of the period the accounts payable balance was P75,000 and the unused supplies has a balance of P5,000. Total purchases on account amounted to P180,000 during the period including the supplies purchase of P15,000. At the end of the year, the unused supplies balance is P5,000 and the accounts payable balance is P40,000. The supplies expense for the period is P20,000 P15,000 P4,500 P 15,500

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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