The GAP purchased inventories totalling 10392 for the fiscal year ended Feb 2, 2019. I need to use a Financial Statements Effects template to record the cost of goods sold for the Gap's fiscal year ended Feb 2nd, 2019. Accounts I am using is Merchandise inventory 0 2019 - 2131, Feb 2018 1997. And accounts payable Feb 2019-1126 and Feb 2018-1181. I also need to know how to determine how much the company pays to suppliers during the year? Balance Sheet Income Statement Transaction Cash + Noncash Assets = Liabilties + Contributed Capitial + Earned Capitial Revenues - Expenses = Net Income $ 2,131 $ 1,126 Purchase Inventory + $ 10,392.00 + $ 10,392.00 Inventory Accounts Payable Accounts Payable
The GAP purchased inventories totalling 10392 for the fiscal year ended Feb 2, 2019. I need to use a Financial Statements Effects template to record the cost of goods sold for the Gap's fiscal year ended Feb 2nd, 2019. Accounts I am using is Merchandise inventory 0 2019 - 2131, Feb 2018 1997. And accounts payable Feb 2019-1126 and Feb 2018-1181. I also need to know how to determine how much the company pays to suppliers during the year? Balance Sheet Income Statement Transaction Cash + Noncash Assets = Liabilties + Contributed Capitial + Earned Capitial Revenues - Expenses = Net Income $ 2,131 $ 1,126 Purchase Inventory + $ 10,392.00 + $ 10,392.00 Inventory Accounts Payable Accounts Payable
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter14: Adjustments For A Merchandising Business
Section: Chapter Questions
Problem 3MC: Under the periodic inventory system, what account is debited when an estimate is made for the cost...
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The GAP purchased inventories totalling 10392 for the fiscal year ended Feb 2, 2019. I need to use a Financial Statements Effects template to record the cost of goods sold for the Gap's fiscal year ended Feb 2nd, 2019. Accounts I am using is Merchandise inventory 0 2019 - 2131, Feb 2018 1997. And accounts payable Feb 2019-1126 and Feb 2018-1181.
I also need to know how to determine how much the company pays to suppliers during the year?
Balance Sheet | Income Statement | ||||||||||||||||||
Transaction | Cash | + | Noncash Assets | = | Liabilties | + | Contributed Capitial | + | Earned Capitial | Revenues | - | Expenses | = | Net Income | |||||
$ 2,131 | $ 1,126 | ||||||||||||||||||
Purchase Inventory | + | $ 10,392.00 | + | $ 10,392.00 | |||||||||||||||
Inventory | Accounts Payable | ||||||||||||||||||
Accounts Payable |
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