Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Compute the amount of cash paid to the creditors from the following data while preparing the cash budget for the month of April 2020. Total

Compute the amount of cash paid to the creditors from the following data while preparing the cash budget for the month of April 2020. Total sales for the month of April was OMR 30,000 of which 60% was cost of sales and during the same month the ending inventory and beginning inventory were OMR 20,000, OMR 10,000 respectively. The March month purchases were OMR 34,000.

a.

OMR 44,000

b.

OMR 8,000

c.

OMR 10,000

d.

OMR 28,000

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

Step: 3

blur-text-image

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

Rehabilitation Tax Credit IRS Audit Techniques Guide

Authors: Internal Revenue Service

1st Edition

1304114686, 978-1304114686

More Books

Students also viewed these Accounting questions