Business, 11.02.2021 21:20 bumeh511

Inventory that had cost $21,200 was sold for $39,900 under terms 2/20, net/30. Customers returned merchandise to Ozark five days after the purchase. The merchandise had been sold for a price of $1,520. The merchandise had cost Ozark $920. All customers paid their accounts within the discount period. Selling and administrative expenses amounted to $4,200. Interest expense paid amounted to $360. Land that had cost $8,000 was sold for $9,250 cash. Determine the amount of net sales Prepare a multistep income statement.
Where would the interest expense be shown on the statement of cash flows?
Operating activities
Investing activities
Financing activities
How would the sale of the land be shown on the statement of cash flows?
The full sales price of the land, $9,250, would be shown as a cash inflow from financing activities on the statement of cash flows.
The full sales price of the land, $9,250, would be shown as a cash inflow from investing activities on the statement of cash flows.
The full sales price of the land, $9,250, would be shown as a cash inflow from operating activities on the statement of cash flows

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 06:00

For 2018, rahal's auto parts estimates bad debt expense at 1% of credit sales. the company reported accounts receivable and an allowance for uncollectible accounts of $86,500 and $2,100, respectively, at december 31, 2017. during 2018, rahal's credit sales and collections were $404,000 and $408,000, respectively, and $2,340 in accounts receivable were written off.rahal's accounts receivable at december 31, 2018, are:

Answers: 2

Answer

Business, 22.06.2019 18:00

Abbington company has a manufacturing facility in brooklyn that manufactures robotic equipment for the auto industry. for year 1, abbingtonabbington collected the following information from its main production line: actual quantity purchased-200 units, actual quantity used-110 units, units standard quantity-100 units, actual price paid-$8 per unit, standard price-$10 per unit. atlantic isolates price variances at the time of purchase. what is the materials price variance for year 1? 1. $400 favorable. 2. $400 unfavorable. 3. $220 favorable. 4. $220 unfavorable.

Answers: 2

Answer

Business, 22.06.2019 21:30

Zara, a global retail and apparel manufacturer based in spain that has successfully implemented this idea by having a continuous flow of new products that are typically limited in supply. zara has created a system that draws its clientèle into its stores, on average, 17 times per year as compared to 4 times per year for most stores. how is zara using it to gain competitive advantage? what specific technologies are used by zara to maintain this advantage over its competition?

Answers: 3

Answer

Business, 22.06.2019 23:00

If the reserve requirement is 10 percent, what amount of excess reserves does a bank acquire when a business deposits a $500 check drawn on another bank?

Answers: 2

Answer

You know the right answer?

Inventory that had cost $21,200 was sold for $39,900 under terms 2/20, net/30. Customers returned me...

Questions