On April 6, Home Furnishings purchased $46,000 of merchandise from Una's Imports, terms 2/10, n/45. On April 8, Home Furnishings returned $9,700 of the merchandise to Una's Imports for credit. Home Furnishings paid cash for the merchandise on April 15. Required a. What is the amount that Home Furnishings must pay Una's Imports on April 15? b. Record the events in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for investing activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank. c. How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April 20? d. Record the payment of the merchandise in Requirement (c) in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for investing activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank. Complete this question by entering your answers in the tabs below. Required A Required B Required c Required D What is the amount that Home Furnishings must pay Una's Imports on April 15? Net amount due Required A Required B > Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Record the events in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for investing activity, FA for financing activi If the element is not affected by the event, leave the cell blank. (Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require e HOME FURNISHINGS Effect of Events on the Financial Statements Balance Sheet Income Statement Assets Liabilities + Stockholders' Equity Events Statement of Cash Flows Revenue Expenses Net Income Cash Merchandise + Inventory Accounts Payable Common Stock + + Retained Earnings = + + + Purchase inventory Return inventory Record discount Paid accounts payable + + + + + + + + + Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Record the payment of the merchandise in Requirement (c) in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for ir financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank. (Enter any decreases to account balances and cash out all cells require entry.) HOME FURNISHINGS Effect of Events on the Financial Statements Balance Sheet Income Statement = Liabilities + Events Assets Merchandise Inventory Statement of Cash Flows Net Income Accounts Payable Stockholders' Equity Common Retained Revenue - Expenses = Stock Earnings Cash Paid accounts payable
