1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
S_A_V [24]
3 years ago
15

A company's Inventory balance at the end of the year was $188,000 and $200,000 at the beginning of the year. Its Accounts Payabl

e balance at the end of the year was $84,000 and $80,000 at the beginning of the year, and its cost of goods sold for the year was $720,000. The company's total amount of cash payments for merchandise during the year equals:
(A) $736,000.
(B) $728,000.
(C) $704,000.
(D) $720,000.
(E) $712,000.
Business
1 answer:
Oduvanchick [21]3 years ago
5 0

Answer:

The correct option is C. $704,000

Explanation:

The computation of total cash payments is shown below:

= Cost of goods sold - net effect of inventory balance - net effect of accounts payable balance

where,

Net effect of inventory balance = Opening inventory balance - Ending inventory balance

= $200,000 - $188,000

= $12,000

Net effect of inventory balance = Ending accounts payable balance - opening accounts payable balance

= $84,000 - $80,000

= 4,000

So, the cash payment is equals to

= $720,000 - $12,000 - $4,000

= $704,000

Hence, the correct option is C. $704,000

You might be interested in
Lyle’s manager just handed him a list of goals for the year. Because Lyle had no say in setting these goals, he isn’t sure that
abruzzese [7]

Answer: Goal acceptance

Explanation:

Most times in organizations, it is the people in leadership positions who set and manage goals for the employees and it is rare for staff to be part of the goal setting process,

Such employees are sometimes not sure of what to do and how to achieve the goals. Such employees are not in charge of their own responsibilities. Employee goal acceptance is when employees are just part of the process when making decisions even though the goals are set by the management.

6 0
3 years ago
Read 2 more answers
A project manager has to manage tasks and identify schedule problems during the
BabaBlast [244]
Duration of the project. from start to end

3 0
3 years ago
What line item flows from the statement of retained earnings to the balance​ sheet?
-Dominant- [34]

Answer:

Retained Earnings

Explanation:

The statement of retained earnings is prepared after preparing the income statement but before preparing the balance sheet. The reason behind this is that the statement of retained earnings is used to calculate the amount of retained earnings at the end of the period to be shown in the balance sheet.

3 0
3 years ago
Explain how the Federal Reserve Board can increase or decrease the money supply using each of the following tools: reserve requi
Alex17521 [72]

Answer:

Reserve requirements – Reserve requirement increases to decrease the money supply or vice versa.

Open-market activities – the Fed sell the securities to reduce money supply or purchase it to increase the money supply.

Discount rates – Decrease the discount rate to increase the money supply or vice versa.

Explanation:

The Federal Reserve increases or decreases the money supply by using various tools. So in the case of the reserve requirement, the bank increases the percentage of reserve requirement if the Fed wants to decrease the money supply and to increase the money supply it reduces the reserve requirements. In the case of open market operations, the Fed sells securities and bonds in the market in order to reduce the supply of money or to decrease the supply of money it buys the securities from the market.

In the case of a discount rate, the Fed reduces the discount rate to increase the money supply because reducing the discount rate will induce the banks to give more loans. But to decrease the money supply, the Fed increases the discount rate because an increase in the discount rate reduces the ability of banks to give loans.

6 0
3 years ago
Sammy created a new logo for his client to use on the company website and office stationery. However, the logo became a blur whe
pychu [463]

Answer:

Sammy needs to use a program and design the ad using density independent pixels.

Explanation:

Based on the scenario being described within the question it can be said that in the future Sammy needs to use a program and design the ad using density independent pixels. This will allow the design to correctly scale up and down by adding the correct ration or pixels needed so that the image is always as clear as originally intended. This will prevent such scenarios as this one.

7 0
3 years ago
Other questions:
  • rue or False: The following statement accurately describes how firms make decisions related to issuing new common stock. Taking
    14·1 answer
  • The attempt to create and defend markets that satisfy the needs of consumers and business customers is the basic thrust of:
    10·1 answer
  • A general rule to help detect pseudoscience is to: a. be highly skeptical of scientific assertions that rely on vague evidence.
    13·1 answer
  • Jackie’s Coffee is a sit-down café with a wait staff that takes customers’ orders. Jackie's competitor, Johnny's Coffee Shack, s
    7·1 answer
  • A family with 45000 in asserts and 22000 of liabilities would have a net worth of?
    7·2 answers
  • Which of the following is generally not one of the five processes integrated into an enterprise project management methodology?
    11·1 answer
  • Broker A is involved in an exclusive right to sell listing with his seller client, Seller S. After receiving the property condit
    5·1 answer
  • Sheffield Corp. has the following transactions related to notes receivable during the last 2 months of 2020. The company does no
    7·1 answer
  • What is generally one of the major differences between union and nonunion workers?
    15·1 answer
  • A business cycle reflects changes in economic activity, particularly real gdp. the stages of a business cycle are?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!