19. The balance in Moon Co.'s accounts payable account at December 31, 2012 was $900,000 before any necessary year-end adjustments relating to the following: Goods were in transit to Moon from a vendor on December 31, 2012. The invoice cost was $40,000. The goods were shipped f.o.b. shipping point on December 29, 2012 and were received on January 4, 2013. • Goods shipped f.o.b. destination on December 21, 2012 from a vendor to Moon were received on January 6, 2013. The invoice cost was $25,000. On December 27, 2012, Moon wrote and recorded checks to creditors totaling $30,000 that were mailed on January 10, 2013. In Moon's December 31, 2012 balance sheet, the accounts payable should be a. $930,000. b. $940,000. c. $965,000. d. $970,000.

19. The balance in Moon Co.'s accounts payable account at December 31, 2012 was $900,000 before any necessary year-end adjustments relating to the following: Goods were in transit to Moon from a vendor on December 31, 2012. The invoice cost was $40,000. The goods were shipped f.o.b. shipping point on December 29, 2012 and were received on January 4, 2013. • Goods shipped f.o.b. destination on December 21, 2012 from a vendor to Moon were received on January 6, 2013. The invoice cost was $25,000. On December 27, 2012, Moon wrote and recorded checks to creditors totaling $30,000 that were mailed on January 10, 2013. In Moon's December 31, 2012 balance sheet, the accounts payable should be a. $930,000. b. $940,000. c. $965,000. d. $970,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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