7.  Use the following excerpts from Jasper Company’s financial statements and complete the worksheets below to determine cash paid to suppliers for inventory in 2018.  From Balance Sheets:                  Dec. 31, 2018            Dec.31, 2017 Inventory                                         $35,000                          $31,000 From Income Statement:                  2018 Cost of Goods Sold                         175,900    PLEASE NOTE: You are to follow the format shown in the textbook. Step01: Inventory Purchased         ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]    Step02: Cash paid for Inventory Purchases         ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]        ["", "", "", "", ""]

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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7. 

Use the following excerpts from Jasper Company’s financial statements and complete the worksheets below to determine cash paid to suppliers for inventory in 2018. 

From Balance Sheets:                  Dec. 31, 2018            Dec.31, 2017

Inventory                                         $35,000                          $31,000

From Income Statement:                  2018

Cost of Goods Sold                         175,900

  

PLEASE NOTE: You are to follow the format shown in the textbook.

Step01: Inventory Purchased  
      ["", "", "", "", ""]        ["", "", "", "", ""] 
      ["", "", "", "", ""]        ["", "", "", "", ""] 
      ["", "", "", "", ""]        ["", "", "", "", ""] 
      ["", "", "", "", ""]        ["", "", "", "", ""] 
      ["", "", "", "", ""]        ["", "", "", "", ""] 

 

Step02: Cash paid for Inventory Purchases  
      ["", "", "", "", ""]        ["", "", "", "", ""] 
      ["", "", "", "", ""]        ["", "", "", "", ""] 
      ["", "", "", "", ""]        ["", "", "", "", ""] 
      ["", "", "", "", ""]        ["", "", "", "", ""] 
      ["", "", "", "", ""]        ["", "", "", "", ""] 

 

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