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Shown below in T-account format are the beginning and ending balances ($ in millions) of both inventory and accounts payable. Inventory Beqinning balance 105.0 109.5
Shown below in T-account format are the beginning and ending balances ($ in millions) of both inventory and accounts payable. Inventory Beqinning balance 105.0 109.5 Ending balance Accounts Payable 30.0 Beqinning balance 33.6 Endinq balance Use a T-account analysis to determine the amount of cash paid to suppliers of merchandise during the reporting period if cost of goods sold was $270 million. (Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Cash paid to suppliers million No Event General Journal Debit Credit 1 Cost of goods sold Inventory Accounts payable Cash Determine the amount of cash paid to bondholders for bond interest for each of the six independent situations below. All dollars are in millions. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Bond Interest Payable Increase (Decrease) Situation Bond Interest Expense Unamortized Discount Cash Paid for Increase (Decrease) Interest 13.0 0 2 13.0 2.4 3 13.0 (2.4) 4 13.0 (3.4) 5 13.0 2,4 (3.4) 6 13.0 (2.4) (3.4)
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