Question
You have been provided with the following T-Accounts for Asay Company at the end of 20X2: Inventory Beg. Bal. $65,000 ??? $167,000 End. Bal. $70,000
You have been provided with the following T-Accounts for Asay Company at the end of 20X2:
| Inventory | |||
| Beg. Bal. | $65,000 | ||
| ??? | $167,000 | ||
| End. Bal. | $70,000 | ||
| Accounts Payable | |||
| $40,000 | Beg. Bal. | ||
| ??? | ??? | ||
| $33,000 | End. Bal. | ||
| Dividends Payable | |||
| $27,000 | Beg. Bal. | ||
| ??? | $15,000 | ||
| $32,000 | End. Bal. | ||
NOTE: All inventory purchases are made on account.
What is the amount of cash paid to inventory suppliers by Asay Company in 20X2?
Please show work!
multiple choice
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$167,000
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$179,000 (Correct)
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$189,000
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$172,000
-
$162,000
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$169,000
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Corporate Financial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
12th edition
1305041399, 1285078586, 978-1-133-9524, 9781133952428, 978-1305041394, 9781285078588, 1-133-95241-0, 978-1133952411
