1. Inventory, end. ₱162,000; Net purchases, ₱216,000; Cost of goods sold, ₱144,000. How much is the Inventory, beg.? a. 90,000 b. 120,000 c. 144,000 d. 80,000 2. At the beginning of the period, Entity A’s notes payable had a balance of ₱1,200. During the period, Entity A obtained an additional loan of ₱800 and made total payments of ₱500. How much is the ending balance of Entity A’s notes payable? a. 1,800 b. 1,500 c. 1,200 d. 900

1. Inventory, end. ₱162,000; Net purchases, ₱216,000; Cost of goods sold, ₱144,000. How much is the Inventory, beg.? a. 90,000 b. 120,000 c. 144,000 d. 80,000 2. At the beginning of the period, Entity A’s notes payable had a balance of ₱1,200. During the period, Entity A obtained an additional loan of ₱800 and made total payments of ₱500. How much is the ending balance of Entity A’s notes payable? a. 1,800 b. 1,500 c. 1,200 d. 900

Name: choose the letter of the answer: 1. Inventory, end. ₱162,000; Net purc
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Description: choose the letter of the answer: 1. Inventory, end. ₱162,000; Net purchases, ₱216,000; Cost of goods sold, ₱144,000. How much is the Inventory, beg.?a. 90,000b. 120,000c. 144,000d. 80,0002. At the beginning of the period, Entity A’s notes payable had

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 37E: Analyzing the Accounts Casey Company uses a perpetual inventory system and engaged in the following...

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Analyzing the Accounts Casey Company uses a perpetual inventory system and engaged in the following transactions: a. Made credit sales of $825,000. The cost of the merchandise sold was $560,000. b. Collected accounts receivable in the amount of $752,600. c. Purchased goods on credit in the amount of $574,300. d. Paid accounts payable in the amount of $536,200. Required: Prepare the journal entries necessary to record the transactions. Indicate whether each transaction increased cash, decreased cash, or had no effect on cash.
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