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On April 6, Home Furnishings purchased $25,200 of merchandise from Una's Imports, terms 2/10, n/45. On April returned $2400 of the merchandise to Una's Imports for credit. Home Furnishings pald cash for the merchandise on April 15. Home Furnishings 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 April 20? d. 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, IA for Investlng 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 C Required D Required B What is the amount that Home Furnishings must pay Una's Imports on April 15? Net amount due Rerired A Required B >

On April 6, Home Furnishings purchased $25,200 of merchandise from Una's Imports, terms 2/10, n/45. On April returned $2400 of the merchandise to Una's Imports for credit. Home Furnishings pald cash for the merchandise on April 15. Home Furnishings 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 April 20? d. 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, IA for Investlng 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 C Required D Required B What is the amount that Home Furnishings must pay Una's Imports on April 15? Net amount due Rerired A Required B >

FINANCIAL ACCOUNTING
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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On April 6, Home Furnishings purchased $25,200 of merchandise from Una's Imports, terms 2/10, n/45. On April 8, Home Furnishings returned $2400 of the merchandise to Una's Imports for credit Home Furnishings 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 horlzontal 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 cll 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 actvity, 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 Required C Required D Required B What is the amount that Home Furnishings must pay Una's Imports on April 15? Net amount due Required B > Next > Prev 4 of 13
Transcribed Image Text:On April 6, Home Furnishings purchased $25,200 of merchandise from Una's Imports, terms 2/10, n/45. On April 8, Home Furnishings returned $2400 of the merchandise to Una's Imports for credit Home Furnishings 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 horlzontal 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 cll 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 actvity, 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 Required C Required D Required B What is the amount that Home Furnishings must pay Una's Imports on April 15? Net amount due Required B > Next > Prev 4 of 13
https://ezto.mheducation.com/ext/map/index.html?_con3Dcon&e 70% work (LOS 1,2,3,4.6.8) Search Seved On April 6, Home Furnishings 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 Furnishings 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 E 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 activity, or NC 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. Not all cells re HOME FURNISHINGS Effect of Events on the Financial Statements. Balance Sheet. Income Statement Statement of Cash Flows = Liabilities + Accounts Inventory Payable 25,200 (2,400) + (458) + Assets Stockholders' Equity Net Events Common Stock Retained Revenue -Expenses Earnings Income Cash + Merchandise Purchase inventory Return inventory 25,200 = (2.400) = Record discount (22,344) (22,344) + (22,244) + Paid accounts payable < Required A Required C > 4 of 13 Next > Prev
Transcribed Image Text:https://ezto.mheducation.com/ext/map/index.html?_con3Dcon&e 70% work (LOS 1,2,3,4.6.8) Search Seved On April 6, Home Furnishings 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 Furnishings 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 E 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 activity, or NC 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. Not all cells re HOME FURNISHINGS Effect of Events on the Financial Statements. Balance Sheet. Income Statement Statement of Cash Flows = Liabilities + Accounts Inventory Payable 25,200 (2,400) + (458) + Assets Stockholders' Equity Net Events Common Stock Retained Revenue -Expenses Earnings Income Cash + Merchandise Purchase inventory Return inventory 25,200 = (2.400) = Record discount (22,344) (22,344) + (22,244) + Paid accounts payable < Required A Required C > 4 of 13 Next > Prev
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