a. What Is the amount that Home Furnishings must pay Una's Imports on April 15? b. Record the events In a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for Investing activity, FA for financing activity, or NC for net change In cash. If the element Is not affected by the event, leave the cell blank. c. How much must Home Furnishings pay for the merchandise purchased if the payment Is not made until April 20? d. Record the payment of the merchandise In Requirement (C) designate operating activity. IA for Investing activity, FA for financing activity, or NC for net change In cash. If the element Is not affected by the event, leave the cell blank. a hortzontal statements model. In the Cash Flow column, use OA to
a. What Is the amount that Home Furnishings must pay Una's Imports on April 15? b. Record the events In a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for Investing activity, FA for financing activity, or NC for net change In cash. If the element Is not affected by the event, leave the cell blank. c. How much must Home Furnishings pay for the merchandise purchased if the payment Is not made until April 20? d. Record the payment of the merchandise In Requirement (C) designate operating activity. IA for Investing activity, FA for financing activity, or NC for net change In cash. If the element Is not affected by the event, leave the cell blank. a hortzontal statements model. In the Cash Flow column, use OA to
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please help me with this question

Transcribed Image Text:On April 6, Home Furmishings purchased $25,200 of merchandise from Una's Imports, terms 2/10, n/45. On April 8, Home Furnishings
returned $2,400 of the merchandise to Una's Imports for credit. Home Fumishings pald cash for the merchandise on April 15.
Required
a What Is the amount that Home Furnishings must pay Una's Imports on April 15?
b. Record the events In a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for
Investing activity, FA for financing activity, or NC for net change In cash. If the element Is not affected by the event, leave the cell
blank.
c. How much must Home Furnishings pay for the merchandise purchased if the payment Is not made until Apnl 20?
d. Record the payment of the merchandise In Requirement (C) In a hortzontal statements model. In the Cash Flow column, use OA to
designate operating activity. IA for Investing activity, FA for financing activity, or NC for net change In cash. If the element Is not
affected by the event, leave the cell blank.
Complete this question by entering your answers in the tabs below.
Required A
Required B
Required C
Rec
Record the payment of the merchandise in Requirement (c) in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IF
FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank. (Enter any decreases to account balances
a minus sign. Not all cells require entry.)
HOME FURNISHINGS
Effect of Events on the Financial Statements
Balance Sheet
Income Statement
Stockholders' Equity
Statement of Cash
Flows
= Liabilities +
Accounts
Payable
Assets
Net
Retained Revenue
Earnings
Events
Expenses =
Common
Stock
Income
Merchandise
Inventory
Cash
Paid aopounts payable
< Required C
4 of 13
Next >
Prev

Transcribed Image Text:ork (LOs 1,23.4,6,8)
On April 6, Home Fumishings purchased $25,200 of merchandise from Una's Imports, terms 2/10, n/45. On April 8. Home Furnishings
retumed $2,400 of the merchandise to Una's Imports for credit. Home Fumishings pald cash for the merchandise on April 15.
Required
a. What Is the amount that Home Furnishings must pay Una's Imports on April 15?
b. Record the events In a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for
Investing actvity, FA for financing activity, or NC for net change In cash. If the element Is not affected by the event, leave the cell
blank.
c. How much must Home Furnishings pay for the merchandise purchased If the payment Is not made until April 20?
d. Record the payment of the merchandise In Requirement (C) In a hortzontal statements model. In the Cash Flow column, use OA to
designate operating activity. IA for Investing activity, FA for financing activity, or NC for net change In cash. If the element Is not
affected by the event, leave the cell blank.
Complete this question by entering your answers in the tabs below.
Required A
Required Required C
Required D
Record the events in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for investing activity, FA for financing acti
change in cash. If the element is not affected by the event, leave the cell blank. (Enter any decreases to account balances and cash outflows with a minus sign. No
HOME FURNISHINGS
Effect of Events on the Financial Statements
Balance Sheet
Income Statement
Stockholders Equity
Statement of Cash
= Liabilities +
Accounts
Payable
Assets
Net
Flows
Retained Revenue
Earnings
Events
Expenses =
Common
Stock
Merchandise
Income
Cash
Inventory
Purchase inventory
Return inventony
Record discount
Paid accounts payable
< Required A
Required C >
< Prev
4 of 13
Next >
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