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Neymar Corp. purchases all merchandise inventory on credit and uses a perpetual inventory system. The Accounts Payable account is used for recording merchandise inventory purchases
Neymar Corp. purchases all merchandise inventory on credit and uses a perpetual inventory system. The Accounts Payable account is used for recording merchandise inventory purchases only. All other current liabilities are accrued in separate accounts. You are provided with the following selected information for the most recent three years: 2015 2014 2013 $(1) $295,900 $285,400 189,000 (5) 173,600 109,600 104,100 (9) (2) 61,100 (10) 10,400 7,800 9,100 $46,800 $(6) $39,000 Income statement data Net sales Cost of goods sold Gross profit Operating expenses Income tax expense Profit Statement of financial position data Merchandise inventory Accounts payable Additional information Purchase of merchandise inventory Cash payments to suppliers $(3) $19,100 $13,000 32,500 (7) 26,000 $183,300 $(8) $171,600 (4) 208,000 165,100 NOTE: You must enter all numbers in the format of ####. Do not enter dollar signs or commas. Here are examples of the correct format: 1000 11000 111000 (1): 76350 (2): 19550 (3): (4): (5): (6): (7): (8): (9)
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