Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

30 - 34 , solve all. 30. Purple Fleur S.A., a retailer of floral products, reported cost of goods sold for the year of S75

30 - 34 , solve all.

image text in transcribed

30. Purple Fleur S.A., a retailer of floral products, reported cost of goods sold for the year of S75 million. Total assets increased by $55 million, but inventory declined by $6 million. Total liabilities increased by 545 million, and accounts payable increased by $2 million. The cash paid by the company to its suppliers is most likely closest to: A. 567 million. B. $79 million C. $83 million. 31. White Flag, a women's clothing manufacturer, reported salaries expense of $20 million. The beginning balance of salaries payable was $3 million, and the ending balance of salaries payable was $1 million How much cash did the company pay in salaries? A. $18 million B. $21 million C. $22 million 32. An analyst gathered the following information from a company's 2010 financial statements in S millions): Year ended 31 December 2009 2010 Net sales 245.8 254.6 Cost of goods sold 1683 175.9 Accounts receivable 73.2 68.3 Inventory 39,0 47.8 Accounts payable 20.3 22.9 Based only on the information above, the company's 2010 statement of cash flows in the direct format would include amounts in S millions) for cash received from customers and cash paid to suppliers, respectively, that are closest to: Cash received from customers Cash paid to suppliers A 249.7 169.7 B 259.5 174.5 259.5 33. Golden Cumulus Corp., a commodities trading company, reported interest expense of $19 million and taxes of S6 million. Interest payable increased by $3 million, and taxes payable decreased by S4 million over the period. How much cash did the company pay for interest and taxes? A. S22 million for interest and $10 million for taxes. B. $16 million for interest and $2 million for taxes. C. $16 million for interest and $10 million for taxes 34. An analyst gathered the following information from a company's 2010 financial statements in s millions); Balances as of Year Ended 31 December 2009 2010 Retained earnings 120 145 Accounts receivable 38 43 Inventory 45 48 Accounts payable 36 29 182.1 171

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Patient Centered Audit

Authors: Kruse

1st Edition

0875272479, 978-0875272474

More Books

Students also viewed these Accounting questions

Question

Explain how to choose a career path based on a persons education.

Answered: 1 week ago