Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. at the end of august there was $180,000 in invento

At the end of August there was $180,000 in inventory. At the end of September...

70.2K

Verified Solution

Question

Accounting

At the end of August there was $180,000 in inventory. At the end of September there was $190,000 in inventory. During August, $100,000 was paid to suppliers for purchases made in August and $10,000 was paid for purchases made prior to August. Septembers cost of goods sold was $420,000. The company pays for 80% of a months purchases in the month of the purchase and pays 20% in the month following the purchase. What is the total amount of cash disbursements made in September for purchases?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

1. A proposed cost-saving project requires a device with an installed cost of $540,000. The project...

Finance
Q

The Prince-Robbins partnership has the following capital account balances on January 1, 2018: Prince, Capital $...

Accounting
Q

Identify the explanatory variable and the response variable.A teacher wants to determine if the teaching...

Basic Math
Q

Find the domain of the function f x x 2 A x22 C no solutions...

Calculus
Q

6 Rewrite the fraction with 33 as the denominator

Algebra
Q

many miles they run each week The following is the data collected from the team...

Algebra
Q

Covid-19 has created a volatile operating environment for all companies and one major concern is...

Accounting
Q

During Year 4, Lamb Inc. suered a tax loss of $(200,000). Lamb qualies for a...

Accounting
Q

Required: 1. Calculate the expected cash collections for April, May, and June. 2. Calculate the...

Accounting
Q

Question 2 From the following Information for the month ending October, 2013, prepare Process Cost...

Accounting
Q

(Annuity payments) to pay for your education, you ve taken out $24,000 in student loans....

Finance
Q

You need a new car and the dealer has offered you a price of $20,000,...

Finance