Sunland Inc. reports the following:InventoryAccounts PayableEnd of YearBeginning of Year$24400$385002670019500If Cost of Goods Sold for the year is $129000, the amount of cash paid to suppliers is$150300.○ $112300.○ $107700.○ $121800.

The objective of the question is to calculate the amount of cash paid to suppliers by Sunland Inc.…

Answered: Sunland Inc. reports the following:…

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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Financial information is presented below: Operating Expenses 91400 Sales Returns and 18400 Allowances Sales Discounts 12700 Sales Revenue 320900 Cost of Goods Sold 173100 The amount of net sales on the income statement would be O $ 302500. O $ 308200. O $ 320900. O $ 289800.
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Suppose the following:Beginning Inventory = 11257Ending Inventory= 12407Beginning Receivables = 6167Ending Receivables = 6879Beginning Payables = 8498Ending Payables = 8829Credit Sales = 93480Cost of Goods Sold = 72325Calculate the following (round final answers to 2 decimal places):Operating Cycle = daysCash Cycle = days
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Metlock's Market recorded the following events involving a recent purchase of inventory: Received goods for $78200, terms 2/9, n/30. Returned $1700 of the shipment for credit. Paid $700 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's inventory increased by $74970. increased by $75670. increased by $77200. O increased by $75656. O O
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Sunland Inc. reports the following: Inventory Accounts Payable End of Year Beginning of Year $24400 $38500 26700 19500 If Cost of Goods Sold for the year is $129000, the amount of cash paid to suppliers is $150300. ○ $112300. ○ $107700. ○ $121800.