Determine the amount of cash paid to suppliers of merchandise for each of the nine independent situations below. All dollars are in millions. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Situation 1 2 3 4 5 6 7 8 9 Cost of Goods sold 105 105 105 105 105 105 105 105 105 Inventory Increase (Decrease) 0 3.2 (3.2) 0 0 3.2 3.2 (3.2) (3.2) Accounts Payable Increase (Decrease) 0 0 0 7.3 (7.3) 7.3 (7.3) (7.3) 7.3 Cash Paid to Suppliers

Determine the amount of cash paid to suppliers of merchandise for each of the nine independent situations below. All dollars are in millions. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Situation 1 2 3 4 5 6 7 8 9 Cost of Goods sold 105 105 105 105 105 105 105 105 105 Inventory Increase (Decrease) 0 3.2 (3.2) 0 0 3.2 3.2 (3.2) (3.2) Accounts Payable Increase (Decrease) 0 0 0 7.3 (7.3) 7.3 (7.3) (7.3) 7.3 Cash Paid to Suppliers

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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Determine the amount of cash paid to suppliers of merchandise for each of the nine independent situations below. All dollars are in millions. Accounts Payable Increase (Decrease) Cash Paid to Suppliers Cost of Inventory Increase (Decrease) Goods Sold Situation 100 ? 3 (3) 100 ? 100 4 100 (7) 100 3 3 (3) (3) 100 (7) (7) 100 100 100
Instructions: Please DO NOT Excel. Please provide detailed explanations on how you got your answer. Calculate the average cost. cost of goods available for sale: 6,424
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Determine the amount of cash paid to suppliers of merchandise for each of the nine independent situations below. All dollars are in millions. Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Situation Cost of Goods sold 1 90 2 90 3 4 5 6 7 8 9 90 90 90 90 90 90 90 Inventory Increase (Decrease) 0 2.6 (2.6) 0 0 2.6 2.6 (2.6) (2.6) Accounts Payable Increase (Decrease) 0 0 0 6.4 (6.4) 6.4 (6.4) (6.4) 6.4 Cash Paid to Suppliers 90.0 92.6 87.4
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Based on the given information below of FDNACCT Co., how much is the cost of goods available for sale? Sales = P85,000 Merchandise Inventory, 1/1 = P20,000 Merchandise Inventory, 12/31 = P26,000 Purchases = P55,000 Purchase Discounts = P1,000 Purchase Returns & Allowances = P2,000 Freight in = P3,000 Selling Expenses = P4,500 Administrative Expenses = P3,800