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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0ba9a53b-55f9-4172-a80d-cee6ac31f4d2%2Fcd20a29c-1940-4ddb-a083-9c19bc2da0bb%2Fy1c2l86_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
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