At the end of 2019, Seiford Enterprises Accounts Payable balance was $327,000; at the end of 2020,
Question:
At the end of 2019, Seiford Enterprises’ Accounts Payable balance was $327,000; at the end of 2020, it was $243,000. Assume that the company purchased $1,900,000 of inventory during 2020 and that Cost of Goods Sold for 2020 was $1,950,000.
Required
Calculate the company’s cash payments to suppliers in 2020.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Beginning AP balance Purchase...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
2+ Reviews
10+ Question Solved
Related Book For 
Question Posted:
