Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 06, 2024

How much did the company pay for merchandise inventory in 2020? Inventory, 12/31/19 $70,000 A/P, 12/31/19 $40,000 Inventory, 12/31/20 $84,000 A/P, 12/31/20 $35,000 COGS, 12/31/20

How much did the company pay for merchandise inventory in 2020? Inventory, 12/31/19 $70,000 A/P, 12/31/19 $40,000 Inventory, 12/31/20 $84,000 A/P, 12/31/20 $35,000 COGS, 12/31/20 $300,000 a. $319,000 b. $309,000 C. $314,000 d. $291,000

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

Analytical Corporate Valuation Fundamental Analysis, Asset Pricing, And Company Valuation

Authors: Pasquale De Luca

1st Edition

331993550X, 9783319935508

More Books

Students also viewed these Accounting questions

Question

★★★★★

Explain how people learn in general and in terms of individual learning styles.

Answered: 1 week ago

Question

★★★★★

Find a vector a with representation given by the directed line segment AB (vector) . Draw AB (vector) and the equivalent representation starting at the origin. A(0, 3, 1), B(2, 3, -1)

Answered: 1 week ago

Question

★★★★★

What are some of the benefits of being a critical thinker? (p. 231)

Answered: 1 week ago

Question

★★★★★

The intangible assets reported by Ip Company at December 31, 2016, follow: Patent #1 was acquired in January 2015 and has an estimated useful life of 10 years. Copyright #1 was acquired in January...

Answered: 1 week ago

Question

★★★★★

You have just been hired by Hewlett-Packard (HP) in its capital budgeting division. Your first assignment is to determine the net cash flows and NPV of a proposed new type of portable computer system...

Answered: 1 week ago

Question

★★★★★

Chart of Accounts Journal Final Questions Instructions On January 6, 20Y8, Bulldog Co. purchased 34% of the outstanding common stock of Gator Co. for $180,300. Gator Co. paid total dividends of...

Answered: 1 week ago

Question

★★★★★

Blue Lagoon Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31 , 2024, the company reports the following amounts: In addition, the company...

Answered: 1 week ago

Question

★★★★★

Jamie Lee Jackson, age 25, a busy full-time student and part-time bakery clerk, has been trying to organize her priorities, including her budget. She has been wondering if she is allocating enough of...

Answered: 1 week ago

Question

★★★★★

Customer Service E-mail You recently paid $250 to Keller & Jenkins for adding a provision in your will to establish a scholarship endowment at your alma mater. While eating lunch in a crowded...

Answered: 1 week ago

Question

★★★★★

1. When a member with a minority interest in an LLC acquires enough ownership interests in the LLC to hold a majority interest: a. a change of ownership occurs b. reassessment of the entire parcel of...

Answered: 1 week ago

Question

★★★★★

13) On December 31, 2023, Vivid Corporation prepared adjusting entries that included the following items: Depreciation expense: $43,400. Accrued sales revenue: $40,600. Accrued expenses: $16,800....

Answered: 1 week ago

Question

★★★★★

3. How should the background-checking process be improved at Sunrise Academy? Sunrise Academy, a privately run technical college, has been operating now for four successful years. Executive Director...

Answered: 1 week ago

Question

★★★★★

8.2 Explain the purpose of onboarding programs.

Answered: 1 week ago

Question

★★★★★

2. Do we get treated differently based on others first impressions of us?

Answered: 1 week ago

Previous Question Next Question