Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 13, 2024

Cold and Flu Corp. reported the following information for 2018 and 2019. Inventory is not reported as there was no change in inventory from 30

Cold and Flu Corp. reported the following information for 2018 and 2019. Inventory is not reported as there was no change in inventory from 30 June 2018 to 30 June 2019.

Accounts Payable, 30 June 2018 95,000

Accounts payable, 30 June 2019 50,000

Cost of goods sold in 2018/19 financial year560,000

How much cash was paid for inventory during the 2018/19 financial year?

d. $60 5000

a. $6 55000

C. $515 000

b.$610 000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 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

Managerial Accounting

Authors: Karen W. Braun, Wendy M. Tietz

5th edition

134128524, 978-0134128528

More Books

Students also viewed these Accounting questions

Question

★★★★★

Emrich Processing is a small custom stainless steel parts processor. Customers send new and used stainless steel parts to Emrich for cleaning in various acid baths to remove small imperfections or...

Answered: 1 week ago

Question

★★★★★

What are the changes that McDonalds has been undertaking in order to reinvent its business? What are the potential benefi ts and risks associated with those changes for the future of the business?

Answered: 1 week ago

Question

★★★★★

d. Does it specify a particular area of health psychology (e.g., pain management, smoking cessation, obesity)?

Answered: 1 week ago

Question

★★★★★

The common stock of Union Jack Flags is currently selling for $28 per share. The companys stock has been growing at a constant annual rate of 4 percent, and this growth is expected to continue for an...

Answered: 1 week ago

Question

★★★★★

At the end of the year you sell at $75 a stock that you have acquired at $68 at the beginning of the year. During the year the stock paid $1.50 in dividends. Capital gains tax rate = 15%, marginal...

Answered: 1 week ago

Question

★★★★★

A CANDU 9 Reactor is at 100% full power operating in Alternate Mode, with Average Liquid Zone Level at 50% and zero Power Error. The inlet valves (all 14) on the Liquid Zone system fail closed...

Answered: 1 week ago

Question

★★★★★

2.) Suppose that X~ NB(4, 0.3), and Y = (X-3) 1/2. Determine the PMF of Y, (y). 3.) Suppose that X~ Exp(1/4) and Y = x - 2. Determine the PDF of Y, fy(y).

Answered: 1 week ago

Question

★★★★★

Let's consider that we have trained a word2vec model from scratch with a vocabulary size of 20,000, having 500 neurons in the hidden layer. What will be the size of the word embedding of each word?...

Answered: 1 week ago

Question

★★★★★

From the following Information for the month ending October, 2013, prepare Process Cost accounts for Process III. Use First-in-fist-out (FIFO) method to value equivalent production. Direct materials...

Answered: 1 week ago

Question

★★★★★

Why is the government responsible for long-term care? Or your parents or neighbors or friends LTC needs and costs? At the tune of $40,000 a year for a long-term care stay for skilled nursing who is...

Answered: 1 week ago

Question

★★★★★

The quality manager of a computer services company wants to create a specification for the amount of time it takes the company to respond to problems reported by customers. The goal time limits is 10...

Answered: 1 week ago

Question

★★★★★

Diane carries out routine processing of invoices in the purchasing department of L Co. Joanne is Diane's supervisor. Lesley is trying to decide how many staff will be needed if some proposed new...

Answered: 1 week ago

Question

★★★★★

1. To provide an insight into why a communication situation can be perceived differently depending on which psychological framework we choose to use.

Answered: 1 week ago

Question

★★★★★

4. What is the meaning of this statement, we should always demarcate a problem in accordance with our objectives, or with what we are trying to understand? a) Give at least three examples that shed...

Answered: 1 week ago

Question

★★★★★

3. Discuss the following statements: a) The way in which a problem is structured provides many of the premises for the actual solution. b) Our assumptions about the demarcation of a problem will...

Answered: 1 week ago

Previous Question Next Question