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sammy [17]
3 years ago
9

Parmesan Company uses the direct method for its statement of cash flow. It reports the following information regarding the year

2014: From the income statement: Sales Revenues, $265,000 Cost of Goods Sold, $210,000 Operating expenses, $31,000 From the balance sheet: Beginning BalanceEnding Balance Accounts Receivable:$14,500$17,800 Inventory:23,50017,800 Accounts Payable:6,00013,500 Accrued Liabilities:4,0001,500 On the statement of cash flows, what amount will be shown for payments to suppliers for inventory purchases
Business
1 answer:
Nastasia [14]3 years ago
5 0

Answer: $‭196,800‬

Explanation:

The cash payments to suppliers for inventory purchases will be:

= Cost of goods sold - Decrease in inventory -  Increase in accounts payable

Decrease in inventory = 23,500 - 17,800

= $5,700

Increase in accounts payable

= 13,500 - 6,000

= $7,500

Cash to suppliers for inventory = 210,000 - 5,700 - 7,500

= $‭196,800‬

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Sunland Company had the following account balances at year-end: Cost of Goods Sold $60,410; Inventory $15,010; Operating Expense
charle [14.2K]

Answer and Explanation:

The journal entry is shown below:

Cost of goods sold Dr $2,650   ($15,010 - $12,360)

           To Inventory $2,650

(Being the cost of goods sold)

By recording this we debited the cost of good sold as it increased the expenses and credited the inventory as it decreased the assets so that the correct recording and posting could be done

5 0
3 years ago
In a given market, the market equilibrium price and quantity are $120 and 5 million units, respectively. At a price of $100, 4.8
Aliun [14]

In this market, it can be concluded that at a price level of $100 per unit, there is <em>C. a shortage of 0.4 million units.</em>

  • This market shortage occurs because 0.4 million units of the goods were not supplied.  There is excess demand and shortage in supply.  
  • The market demand increased from the equilibrium quantity of 5 million units to 5.2 million while the market supply reduced from the equilibrium quantity of 5 million units to 4.8 million.

  • The shortage of 0.4 million units results from the difference between the quantity demanded (5.2 million) and the quantity supplied (4.8 million) as a result of reduced price.

Thus, the market shortage shows the reduced willingness of suppliers to supply goods at the new price of $100 per unit instead of at the acceptable equilibrium price of $120 per unit.

Read more about market surplus and shortage at brainly.com/question/24385458

8 0
2 years ago
Read 2 more answers
Consider the following: Lumber Revenues, $120,000; Hardware Revenues, $90,000; Cost of Sales, $130,000; All other costs and expe
ANEK [815]

Answer:

19.05%

Explanation:

Data provided in the question:

Lumber Revenues = $120,000

Hardware Revenues = $90,000

Cost of Sales = $130,000

All other costs and expenses = $35,000

Investment Income = $8,000

Income Tax Expense = $13,000

Net Income = $40,000

Now,

The net profit margin = [( Net income) ÷ (Total revenue ) ] × 100%

or

The net profit margin = [ $40,000 ÷ ( $120,000 + $90,000 ) ] × 100%

or

The net profit margin = [ $40,000 ÷ $210,000 ] × 100%

or

The net profit margin = 0.1905 × 100%

or

The net profit margin = 19.05%

5 0
3 years ago
A card which requires the cardholder to pay a sum of money equal to the credit limit is called a
Brrunno [24]
The answer is Credit card.

Credit card is a small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit.
5 0
3 years ago
Which of the following transactions will increase an asset and increase a​ liability? A. Purchasing office equipment for cash B.
Mariana [72]

Answer:C. Buying equipment on account.

Explanation:

4 0
3 years ago
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