Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Ending Balance $ 93,300 75,600 101,500 270,900 270,000 90,000 180,000 $ 450,900 Beginning Balance $ 112,450 81,400 92.500 286,350 259,000 64,750 194,250 $ 480,600 Accounts payable Income taxes payable Bonds payable Comon stock Retained earnings Total liabilities and stockholders' equity $ 59,200 46,000 111,000 129, See 105,200 $ 450,900 $ 105,200 59,900 92,500 111,000 112,000 $ 480,600 During the year, Ravenna paid a $11,100 cash dividend and it sold a piece of equipment for $5,550 that had originally cost $12,600 and had accumulated depreciation of $8,400. The company did not retire any bonds or repurchase any of its own common stock during the year. 6-a. If the company debited cost of goods sold and credited inventory for $740,000 during the year, what is the total amount of inventory purchases recorded on the debit side of the Inventory T-account and the credit side of the Accounts Payable T-account? 6-b What is the total amount of the debits recorded in the Accounts Payable T-account during the year? 6.c. What does the amount of these debits represent? Complete this question by entering your answers in the tabs below. Reg 6A Red 6B Reg 6C if the company debited cost of goods sold and credited Inventory for $740,000 during the year, what is the total amount of Inventory purchases recorded on the debit side of the Inventory T-account and the credit side of the Accounts Payable T. account? Purchases Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Ending Balance $ 93,300 75,600 101 580 270,900 270,000 90,000 180,000 $ 450,900 Beginning Balance $ 112,450 81,400 92,500 286350 259,000 64,250 194,250 5 480,600 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders equity $ 59,20 46,000 111,000 129.500 105 200 450.000 $ 105,200 59,900 92,500 111,800 112 000 3480,600 During the year, Ravenna paid a $11100 cash dividend and it sold a piece of equipment for $5,550 that had originally cost $12,600 and had accumulated depreciation of $8.400 The company did not retire any bonds or repurchase any of its own common stock during the year 6-a if the company debited cost of goods sold and credited inventory for $740.000 during the year, what is the total amount of Inventory purchases recorded on the debit side of the Inventory T-account and the credit side of the Accounts Payable T-account? 6 6. What is the total amount of the debits recorded in the Accounts Payable Taccount during the year? 6. What does the amount of these debits represent Complete this question by entering your answers in the tabs below. Reg A Reg 68 Red 6C What is the total amount of the debits recorded in the Accounts Payable T-account during the year? Total amount of debiti recorded Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Ending Beginning Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Balance $ 93,800 75,600 101,500 270.900 270,000 90,000 180,000 $ 450, 900 Balance $ 112,450 81,480 92.500 286,350 259,000 64,750 194,250 $ 480,600 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 59,200 46,000 111,000 129,500 105,200 $ 450,900 $ 105,200 59,900 92,500 111,000 112,000 $ 480,600 During the year, Ravenna paid a $11,100 cash dividend and it sold a piece of equipment for $5,550 that had originally cost $12,600 and had accumulated depreciation of $8,400. The company did not retire any bonds or repurchase any of its own common stock during the year. 7-a. What is the combined amount and direction (+ or -) of the inventory and accounts payable adjustments to net income in the operating activities section of the statement of cash flows? 7-6. What does this amount represent? Complete this question by entering your answers in the tabs below. Reg 2 Req 7B What is the combined amount and direction (+ or -) of the inventory and accounts payable adjustments to net income in the operating activities section of the statement of cash flows? Amount De Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows its balance sheet for this year is as follows: Ending Beginning balance Balance Cash $ 93,300 $ 112,450 Accounts receivable 75,600 81,400 Inventory 101,500 92/500 Total current assets 270.900 286) 350 Property, plant, and equipment 270.000 259.000 Less accumulated depreciation 00.000 64 250 Net property, plant, and equipment 180.000 194.250 Total assets $450.500 5 480,600 $ Accounts payable Income taxes payable Bonds payable Common stock Retained warnings Total abilities and stockholders' equity 59,200 46,000 111.000 129.500 105,200 450.000 $ 105,200 59,900 92,500 111,000 112,000 480,600 During the year Ravenna paid a $11100 cash dividend and it sold a piece of equipment for $5,550 that had originally cost $12,600 and had accumulated depreciation of $8.400 The company did not retire any bonds or repurchase any of its own common stock during the year 8-a of the company debited income tax expense and credited income taxes payable $1,390 during the year, what is the total amount of the debits recorded in the Income Taxes Payable accounts 8-6. What does the amount of these debits represent? Complete this question by entering your answers in the tabs below. ReG BA Reg 88 If the company debited income tax expense and credited income taxes payable 51,390 during the year, what is the total amount of the debits recorded in the Income Taxes Payable account? Totat mount of dois ecoded Req 8B > Ravenna Company is a merchandiser that uses the Indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Les accumulated depreciation Net property, plant, and equipment Total assets Ending Balance $ 93,500 75,600 101,500 220,900 270.000 90.000 180,000 $450,00 Beginning Balance $ 112,450 81,400 92.500 286,350 259.000 64.250 194,250 $450,000 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total abilities and stockholders' equity $ 59,200 46,000 131,000 129, 50 105,200 $450.900 105,200 59,900 92,500 111,000 112,000 $ 480,600 During the year, Ravenna paid a $11.100 cash dividend and it sold a piece of equipment for $5,550 that had orginally cost $12.600 and had accumulated depreciation of $8.400. The company did not retire any bonds or repurchase any of its own common stock during the year of the statement of cash flows? What is the amount and direction (+ or -) of the income taxes payable adjusment to net income in the operating activities section 9.6 What does this adjustment represent? Complete this question by entering your answers in the tabs below. Red 9 Re98 What is the amount and direction of the income taxes payable adjustment to net income in the operating activities section of the statement of cash flows Amount Ren 9B