Homework Answers
| a) | Net amount due | 30968 | |||||||||||
| (40000-8400)*98% | |||||||||||||
| Balance sheet | Income statement | ||||||||||||
| Assets | liabilities | Equity | Net | Statement of cash flow | |||||||||
| b) | Events | Cash | Inventory | A/P | CS | RE | Revenue | Expense | income | ||||
| 1 | pur inv | 40,000 | 40,000 | NA | |||||||||
| 2 | Ret inv | -8,400 | -8,400 | NA | |||||||||
| 3 | Disc | -632 | -632 | NA | |||||||||
| 4 | pd.AC | -30968 | -30968 | -30968 | OA | ||||||||
| c) | Payment | 31600 | |||||||||||
| d) | Balance sheet | Income statement | |||||||||||
| Assets | liabilities | Equity | Net | Statement of cash flow | |||||||||
| Events | Cash | Inventory | A/P | CS | RE | Revenue | Expense | income | |||||
| 4 | pd.AC | -31600 | -31600 | -31600 | OA | ||||||||
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On April 6, 2018, Home Furnishings purchased $40,000 of merchandise from Una's Imports, terms 2/10 n/45....
On April 6, 2018, Home Furnishings purchased $36,000 of merchandise from Una's Imports, terms 1/10 n/45. On April 8, Home Furnishings returned $7,600 of the merchandise to Una's Imports for cr...
On April 6, 2018, Home Furnishings purchased $36,000 of merchandise from Una's Imports, terms 1/10 n/45. On April 8, Home Furnishings returned $7,600 of the merchandise to Una's Imports for credit. Home Furnishings paid cash for the merchandise on April 15, 2018. Required What is the amount that Home Furnishings must pay Una's Imports on April 15? Record the events in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for investment activity,...
Saved On April 6, Home Furnishings purchased $45,000 of merchandise from Una's Imports, terms 1/10,n/45. On...
Saved On April 6, Home Furnishings purchased $45,000 of merchandise from Una's Imports, terms 1/10,n/45. On April 8, Home Furnishings returned $9,500 of the merchandise to Una's Imports for credit. Home Furnishings paid 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,...
On April 6. Home Furnishings purchased $45,000 of merchandise from Una's Imports, terms 1/10, 1/45. On...
On April 6. Home Furnishings purchased $45,000 of merchandise from Una's Imports, terms 1/10, 1/45. On April 8, Home Furnishings returned $9,500 of the merchandise to Una's Imports for credit. Home Furnishings paid 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,...
On April 6, Home Furnishings purchased $45.000 of merchandise from Una's Imports terms 110, n. 45....
On April 6, Home Furnishings purchased $45.000 of merchandise from Una's Imports terms 110, n. 45. On April 8 Home Furnishings returned $9.500 of the merchandise to Una's Imports for credit Home Furnishings paid cash for the merchandise on April 15. Required o. What is the amount that Home Furnishings must pay Una's Imports on April 157 b. Record the events in a horizontal statements model in the Cash Flow column, use OA to designate operating activity. IA for Investing...
On April 6, Year 1, Home Furnishings purchased $32,000 of merchandise from Una Imports, terms 3/10...
On April 6, Year 1, Home Furnishings purchased $32,000 of merchandise from Una Imports, terms 3/10 n/45. On April 8, Home returned $6,700 of the merchandise to Una Imports for credit. Home paid cash for the merchandise on April 15, Year 1. Required a. What is the amount that Home must pay Una Imports on April 15? b. Record the events in a horizontal statements model. c. How much must Home pay for the merchandise purchased if the payment is...
Cash Discounts and Purchase Returns On April 6, 2018, Home Furnishings purchased $25,200 of merchandise from...
Cash Discounts and Purchase Returns On April 6, 2018, 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 paid cash for the merchandise on April 15, 2018 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 like the following one. - Llab. + Rev....
On April 6, Home Furnishings purchased $26,300 of merchandise from Una's Imports, terms 2/10, n/30. On...
On April 6, Home Furnishings purchased $26,300 of merchandise from Una's Imports, terms 2/10, n/30. On April 8, Home Furnishings returned $4,720 of the merchandise to Una's Imports for credit. Home Furnishings paid cash for the merchandise on April 20. What is the amount that Home Furnishings must pay Una's Imports?
On April 6, Year 1, Home Furnishings purchased $34,000 of merchandise from Una Imports, terms 2/10 n/45. On April 8, Home returned $7,100 of the merchandise to Una Imports for credit. Home paid cash...
On April 6, Year 1, Home Furnishings purchased $34,000 of merchandise from Una Imports, terms 2/10 n/45. On April 8, Home returned $7,100 of the merchandise to Una Imports for credit. Home paid cash for the merchandise on April 15, Year 1. Required a. What is the amount that Home must pay Una Imports on April 15? b. Record the events in a horizontal statements model like the following one c. How much must Home pay for the merchandise purchased...
On April 6. Year 1, Home Furnishings purchased $32,000 of merchandise from Una Imports, terms 3/10...
On April 6. Year 1, Home Furnishings purchased $32,000 of merchandise from Una Imports, terms 3/10 n/45. On April 8, Home returned $6,700 of the merchandise to Una Imports for credit. Home paid cash for the merchandise on April 15. Year 1. Required a. What is the amount that Home must pay Una Imports on April 15? b. Record the events in a horizontal statements model. c. How much must Home pay for the merchandise purchased if the payment is...
Dan Watson started a small merchandising business in 2018. The business experienced the following events during...
Dan Watson started a small merchandising business in 2018. The
business experienced the following events during its first year of
operation. Assume that Watson uses the perpetual inventory
system.
Acquired $30,000 cash from the issue of common stock.
Purchased inventory for $18,000 cash.
Sold inventory costing $15,000 for $32,000 cash.
Required
Record the events in a horizontal statement model. In the Cash Flow
column, use OA to designate operating activity, IA for investment
activity, FA for financing activity, or NC...
Saved On April 6, Home Furnishings purchased $45,000 of merchandise from Una's Imports, terms 1/10,n/45. On April 8, Home Furnishings returned $9,500 of the merchandise to Una's Imports for credit. Home Furnishings paid 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,...
On April 6. Home Furnishings purchased $45,000 of merchandise from Una's Imports, terms 1/10, 1/45. On April 8, Home Furnishings returned $9,500 of the merchandise to Una's Imports for credit. Home Furnishings paid 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,...
On April 6, Home Furnishings purchased $45.000 of merchandise from Una's Imports terms 110, n. 45. On April 8 Home Furnishings returned $9.500 of the merchandise to Una's Imports for credit Home Furnishings paid cash for the merchandise on April 15. Required o. What is the amount that Home Furnishings must pay Una's Imports on April 157 b. Record the events in a horizontal statements model in the Cash Flow column, use OA to designate operating activity. IA for Investing...
On April 6, Year 1, Home Furnishings purchased $32,000 of merchandise from Una Imports, terms 3/10 n/45. On April 8, Home returned $6,700 of the merchandise to Una Imports for credit. Home paid cash for the merchandise on April 15, Year 1. Required a. What is the amount that Home must pay Una Imports on April 15? b. Record the events in a horizontal statements model. c. How much must Home pay for the merchandise purchased if the payment is...
Cash Discounts and Purchase Returns On April 6, 2018, 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 paid cash for the merchandise on April 15, 2018 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 like the following one. - Llab. + Rev....
On April 6, Home Furnishings purchased $26,300 of merchandise from Una's Imports, terms 2/10, n/30. On April 8, Home Furnishings returned $4,720 of the merchandise to Una's Imports for credit. Home Furnishings paid cash for the merchandise on April 20. What is the amount that Home Furnishings must pay Una's Imports?
On April 6, Year 1, Home Furnishings purchased $34,000 of merchandise from Una Imports, terms 2/10 n/45. On April 8, Home returned $7,100 of the merchandise to Una Imports for credit. Home paid cash for the merchandise on April 15, Year 1. Required a. What is the amount that Home must pay Una Imports on April 15? b. Record the events in a horizontal statements model like the following one c. How much must Home pay for the merchandise purchased...
On April 6. Year 1, Home Furnishings purchased $32,000 of merchandise from Una Imports, terms 3/10 n/45. On April 8, Home returned $6,700 of the merchandise to Una Imports for credit. Home paid cash for the merchandise on April 15. Year 1. Required a. What is the amount that Home must pay Una Imports on April 15? b. Record the events in a horizontal statements model. c. How much must Home pay for the merchandise purchased if the payment is...
Dan Watson started a small merchandising business in 2018. The
business experienced the following events during its first year of
operation. Assume that Watson uses the perpetual inventory
system.
Acquired $30,000 cash from the issue of common stock.
Purchased inventory for $18,000 cash.
Sold inventory costing $15,000 for $32,000 cash.
Required
Record the events in a horizontal statement model. In the Cash Flow
column, use OA to designate operating activity, IA for investment
activity, FA for financing activity, or NC...
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