Question
2019 2020 2019 2020 Cash $400 $250 Accounts payable $260 $290 Accounts receivable $880 $1,220 Utilities payable $310 $360 Inventory $160 $280 Salaries payable $1,200
2019 2020 2019 2020
| Cash | $400 | $250 | Accounts payable | $260 | $290 | |||
| Accounts receivable | $880 | $1,220 | Utilities payable | $310 | $360 | |||
| Inventory | $160 | $280 | Salaries payable | $1,200 | $900 | |||
| Prepaid insurance | $50 | $20 | Notes payable | $6,000 | $6,500 | |||
| Equipment | $4,000 | $4,000 | Interest payable | $400 | $550 | |||
| Accum. depreciation | ($1,100) | ($1,300) | Common stock | $1,000 | $1,000 | |||
| Land | $6,000 | $7,600 | Retained earnings | $1,220 | $2,470 | |||
| $10,390 | $12,070 | $10,390 | $12,070 | |||||
How much was paid to suppliers if cost of goods sold was $24,000 during 2020?
A. $24,400
B. $24,150
C. $24,120
D. $24,090
E. None of the above
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Taxation Of Individuals And Business Entities 2015
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
6th Edition
9780077862367
