d. Calculate the amount of cash Heidi's paid suppliers of retail merchandise, which includes the food and beverages it sells to retail customers, during the current year. 33. Inferring cash flows from balance sheet and income statement data. (Based on a problem prepared by Stephen A. Zeff.) You work for the Plains State Bank as an analyst special- izing in the financial statements of small businesses seeking loans from the bank. Digit Retail Enterprises Inc. provides you with its balance sheet for December 31, 2012 and 2013 (Exhibit 6.21), and its income statement for 2013 (Exhibit 6.22). Digit Retail Enterprises, Inc., acquired no new property, plant, and equipment during the year. a. Calculate the amount of cash received from customers during 2013. b. Calculate the acquisition cost of merchandise purchased during 2013. c. Calculate the amount of cash paid to suppliers of merchandise during 2013. d. Calculate the amount of cash paid to salaried employees during 2013.

d. Calculate the amount of cash Heidi's paid suppliers of retail merchandise, which includes the food and beverages it sells to retail customers, during the current year. 33. Inferring cash flows from balance sheet and income statement data. (Based on a problem prepared by Stephen A. Zeff.) You work for the Plains State Bank as an analyst special- izing in the financial statements of small businesses seeking loans from the bank. Digit Retail Enterprises Inc. provides you with its balance sheet for December 31, 2012 and 2013 (Exhibit 6.21), and its income statement for 2013 (Exhibit 6.22). Digit Retail Enterprises, Inc., acquired no new property, plant, and equipment during the year. a. Calculate the amount of cash received from customers during 2013. b. Calculate the acquisition cost of merchandise purchased during 2013. c. Calculate the amount of cash paid to suppliers of merchandise during 2013. d. Calculate the amount of cash paid to salaried employees during 2013.

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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