None DKnowledge Check 01Cost of goods sold was $159,400 for the period. The beginning and ending Inventory balances for the period were $18,700 and$13,700, respectively. The beginning and ending Accounts Payable balances for the period were $22,500 and $8,200, respectively.What was the amount of the cash paid to suppliers during the period?Cash paid to suppliers

Step 1: Determine the purchases made on account by using the inventory t-account. These purchases on…

Answered: D Knowledge Check 01 Cost of goods sold…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 9BE

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Consider the following financial statement information: Item Beginning Year Ending Inventory € 9.780 € 11.380 € 4.108 € 4.938 € 7.636 € 7.927 Accounts Receivable Accounts Payable Credit Sales Cost of Goods Sold € 89.804 € 56.384 Calculate the operating and cash cycles. How do you interpret your answer?
Question Content Area Based on the following data, what is the accounts receivable turnover? Sales on account during year $700,000 Cost of merchandise sold during year 270,000 Accounts receivable, beginning of year 45,000 Accounts receivable, end of year 35,000 Merchandise inventory, beginning of year 90,000 Merchandise inventory, end of year 110,000 a.20.0 b.15.5 c.2.6 d.17.5
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Question Content Area Based on the following data for the current year, what is the number of days' sales in receivables (rounded to one decimal place)? Assume 365 days a year. Sales on account during year $461,647 Cost of merchandise sold during year 196,997 Accounts receivable, beginning of year 41,839 Accounts receivable, end of year 52,205 Merchandise inventory, beginning of year 85,575 Merchandise inventory, end of year 109,714 a.155.7 days b.37.2 days c.77.2 days d.86.7 days
Question Content Area Based on the following data for the current year, what is the number of days' sales in receivables (rounded to one decimal place)? Assume 365 days a year. Sales on account during year $591,010 Cost of merchandise sold during year 158,044 Accounts receivable, beginning of year 44,597 Accounts receivable, end of year 46,544 Merchandise inventory, beginning of year 92,783 Merchandise inventory, end of year 119,254
Cash Payments for Merchandise-Direct Method Cost of merchandise sold reported on the Income statement was $760,400. The accounts payable balance decreased $56,100, and the inventory balance Increased by $41,900 over the year. Determine the amount of cash pald for merchandise. 12:25
Cash Payments for Merchandise—Direct Method Cost of merchandise sold reported on the income statement was $482,200. The accounts payable balance decreased $58,000, and the inventory balance increased by $51,700 over the year. Determine the amount of cash paid for merchandise.$fill in the blank 1
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