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irga5000 [103]
3 years ago
7

Electronic Superstore's inventory increases during the year by $3.8 million, and its accounts payable to suppliers increases by

$5.8 million during the same period. What is the amount of cash paid to suppliers of merchandise during the reporting period if its cost of goods sold is $33.0 million? (Round your answers to 1 decimal place. Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).)
Business
1 answer:
Mrrafil [7]3 years ago
3 0

Answer:

$31 million

Explanation:

The computation of the amount of cash paid to suppliers of merchandise during the reporting period is shown below:

= Costs of goods sold + increase in inventory - increase in accounts payable

= $33 million + $3.8 million - $5.8 million

= $31 million

The Costs of goods sold + increase in inventory is also known as purchase of inventory

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An office building owned by Milo was destroyed by Hurricane Mel on September 25, Year 4. On October 2, Year 4, the President of
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Answer:

December 31, year 9

Explanation:

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We are told from the question that Milo received the recovery on January 2, Year 5, the property would have to be replaced within 4 years from the end of Year 5 or by December 31, Year 9

3 0
3 years ago
LYZ sells product P for $40 per unit. The cost of one unit of P is $36, and the replacement cost is $35. The estimated cost to d
Aleks04 [339]

Answer:

B. $32

Explanation:

3 0
3 years ago
Which of the following is not included in the typical pattern of behavior for a poverty-stricken person? a. higher crime rate c.
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A person is poverty-stricken if they are considered to be very poor. A higher standard of living is not a typical pattern of behavior for a poverty-stricken person.

<h3>Who is poverty-stricken poverty?</h3>

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There are few jobs for farmers who have moved to cities from poverty-stricken areas in search of work.

It is characterized by excessive indulgence,  low self-regulation, exploitation of others, and limited motivation and effort.

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6 0
2 years ago
Godfrey Corporation holds, as a long-term investment available-for-sale securities costing $69,000. At December 31, 2017, the fa
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Answer:

Godfrey Corporation

GOLDFREY CORPORATION

Balance Sheet (Partial)

December 31, 2017

Noncurrent assets:

Investments:

Investment In Stock, at fair value  $64,100

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Common stock

Retained earnings

Less :

Unrealized loss  $4,900

Explanation:

a) Data and Calculations:

Long-term investment available for sale:

Cost =               $69,000

Fair value             64,100

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