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On April 6 , Home Furnishings purchased $ 3 9 , 0 0 0 of merchandise from Una's Imports, terms 1 1 0 , n
On April Home Furnishings purchased $ of merchandise from Una's Imports, terms On April Home Furnishings returned $ of the merchandise to Una's Imports for credit. Home Furnishings paid cash for the merchandise on April Required: a What is the amount that Home Furnishings must pay Una's Imports on April b Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities OA investing activities IA or financing activities FA c How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April d Record the payment for the merchandise in Requirement c in the horizontal financial statements model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities OA investing activities IA or financing activities FA Complete this question by entering your answers in the tabs below. Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifi the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities OA investing activities IA or financing activities Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed. tableHOME FURNISHINGSEffect of Events on the Financial StatementsEventsBalance Sheet,Income Statement, tableStatement of CashFlowsAssetstable
On April Home Furnishings purchased $ of merchandise from Una's Imports, terms On April Home Furnishings returned $ of the merchandise to Una's Imports for credit. Home Furnishings paid cash for the merchandise on April
Required:
a What is the amount that Home Furnishings must pay Una's Imports on April
b Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities OA investing activities IA or financing activities FA
c How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April
d Record the payment for the merchandise in Requirement c in the horizontal financial statements model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities OA investing activities IA or financing activities FA
Complete this question by entering your answers in the tabs below.
Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifi the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities OA investing activities IA or financing activities Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed.
tableHOME FURNISHINGSEffect of Events on the Financial StatementsEventsBalance Sheet,Income Statement,
tableStatement of CashFlowsAssetstable
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