Dunnsmore Company reported cost of goods sold of $318,450 on its 20X1 income statement. Other information for Dunnsmore is as follows: Inventories Accounts payable Cost of goods sold Add: Increase in inventory 1/1/20X1 $ 37,200 23,100 Required: Prepare a schedule showing the amount of cash Dunnsmore paid to suppliers in 20X1. 12/31/20X1 $ 43,400 29,900 Inventory purchases Less: Increase in accounts payable Cash paid to suppliers Answer is not complete. $ 318,450 6,200 (6,800) $ 317,850

Dunnsmore Company reported cost of goods sold of $318,450 on its 20X1 income statement. Other information for Dunnsmore is as follows: Inventories Accounts payable Cost of goods sold Add: Increase in inventory 1/1/20X1 $ 37,200 23,100 Required: Prepare a schedule showing the amount of cash Dunnsmore paid to suppliers in 20X1. 12/31/20X1 $ 43,400 29,900 Inventory purchases Less: Increase in accounts payable Cash paid to suppliers Answer is not complete. $ 318,450 6,200 (6,800) $ 317,850

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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