Typewritten answers only, please, no handwritten answers. Thank you. On April 6, 2018, Home Furnishings purchased $37,000...

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Typewritten answers only, please, no handwrittenanswers. Thank you.
On April 6, 2018, Home Furnishings purchased $37,000 ofmerchandise from Una's Imports, terms 2/10 n/45. On April 8, HomeFurnishings returned $7,800 of the merchandise to Una's Imports forcredit. Home Furnishings paid cash for the merchandise on April 15,2018.
Required
What is the amount that Home Furnishings must pay Una's Importson April 15?
Record the events in a horizontal statements model. In the CashFlow column, use OA to designate operating activity, IA forinvestment activity, FA for financing activity, NC for net changein cash and NA to indicate the element is not affected by theevent.
How much must Home Furnishings pay for the merchandise purchasedif the payment is not made until April 20, 2018?
Record the payment of the merchandise in Requirement (c) in ahorizontal statements. In the Cash Flow column, use OA to designateoperating activity, IA for investment activity, FA for financingactivity, NC for net change in cash and NA to indicate the elementis not affected by the event.
What is the amount that Home Furnishings must payUna's Imports on April 15?
Record the events in a horizontal statements model. In the CashFlow column, use OA to designate operating activity, IA forinvestment activity, FA for financing activity, NC for net changein cash and NA to indicate the element is not affected by theevent. (Enter any decreases to account balances and cash outflowswith a minus sign.
HOMEFURNISHINGS
Effect of Eventson the Financial Statements
Events Balance Sheet Income Statement Statement of Cash Flows
Assets = Liabilities + Stockholders’Equity Revenue – Expenses = Net Income
Cash + Merchandise Inventory = Accounts Payable + Common Stock + Retained Earnings
Purchaseinventory + = + + – =
Returninventory + = + + – =
Discountpercentage + = + + – =
Paidaccounts payable + = + + – =
On April 6, 2018, Home Furnishings purchased $37,000 ofmerchandise from Una's Imports, terms 2/10 n/45. On April 8, HomeFurnishings returned $7,800 of the merchandise to Una's Imports forcredit. Home Furnishings paid cash for the merchandise on April 15,2018.
Required
What is the amount that Home Furnishings must pay Una's Importson April 15?
Record the events in a horizontal statements model. In the CashFlow column, use OA to designate operating activity, IA forinvestment activity, FA for financing activity, NC for net changein cash and NA to indicate the element is not affected by theevent.
How much must Home Furnishings pay for the merchandise purchasedif the payment is not made until April 20, 2018?
Record the payment of the merchandise in Requirement (c) in ahorizontal statements. In the Cash Flow column, use OA to designateoperating activity, IA for investment activity, FA for financingactivity, NC for net change in cash and NA to indicate the elementis not affected by the event.
HOME FURNISHINGS
Effect of Events on theFinancial Statements
Events Balance Sheet Income Statement Statement of Cash Flows
Assets = Liabilities + Stockholders’Equity Revenue – Expenses = Net Income
Cash + Merchandise Inventory = Accounts Payable + Common Stock + Retained Earnings
Paidaccounts payable + = + + – =
Typewritten answers only, please, no handwrittenanswers. Thank you.

Answer & Explanation Solved by verified expert

3.9 Ratings (756 Votes)

Solution a Amount to be paid by home furnishing on April 15 37000 7800 98 28616 solution b HOME FURNISHINGS Effect of Events on the Financial Statements Events Assets See Answer

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Typewritten answers only, please, no handwrittenanswers. Thank you.On April 6, 2018, Home Furnishings purchased $37,000 ofmerchandise from Una's Imports, terms 2/10 n/45. On April 8, HomeFurnishings returned $7,800 of the merchandise to Una's Imports forcredit. Home Furnishings paid cash for the merchandise on April 15,2018.RequiredWhat is the amount that Home Furnishings must pay Una's Importson April 15?Record the events in a horizontal statements model. In the CashFlow column, use OA to designate operating activity, IA forinvestment activity, FA for financing activity, NC for net changein cash and NA to indicate the element is not affected by theevent.How much must Home Furnishings pay for the merchandise purchasedif the payment is not made until April 20, 2018?Record the payment of the merchandise in Requirement (c) in ahorizontal statements. In the Cash Flow column, use OA to designateoperating activity, IA for investment activity, FA for financingactivity, NC for net change in cash and NA to indicate the elementis not affected by the event.What is the amount that Home Furnishings must payUna's Imports on April 15?Record the events in a horizontal statements model. In the CashFlow column, use OA to designate operating activity, IA forinvestment activity, FA for financing activity, NC for net changein cash and NA to indicate the element is not affected by theevent. (Enter any decreases to account balances and cash outflowswith a minus sign.HOMEFURNISHINGSEffect of Eventson the Financial StatementsEventsBalance SheetIncome StatementStatement of Cash FlowsAssets=Liabilities+Stockholders’EquityRevenue–Expenses=Net IncomeCash+Merchandise Inventory=Accounts Payable+Common Stock+Retained EarningsPurchaseinventory+=++–=Returninventory+=++–=Discountpercentage+=++–=Paidaccounts payable+=++–=On April 6, 2018, Home Furnishings purchased $37,000 ofmerchandise from Una's Imports, terms 2/10 n/45. On April 8, HomeFurnishings returned $7,800 of the merchandise to Una's Imports forcredit. Home Furnishings paid cash for the merchandise on April 15,2018.RequiredWhat is the amount that Home Furnishings must pay Una's Importson April 15?Record the events in a horizontal statements model. In the CashFlow column, use OA to designate operating activity, IA forinvestment activity, FA for financing activity, NC for net changein cash and NA to indicate the element is not affected by theevent.How much must Home Furnishings pay for the merchandise purchasedif the payment is not made until April 20, 2018?Record the payment of the merchandise in Requirement (c) in ahorizontal statements. In the Cash Flow column, use OA to designateoperating activity, IA for investment activity, FA for financingactivity, NC for net change in cash and NA to indicate the elementis not affected by the event.HOME FURNISHINGSEffect of Events on theFinancial StatementsEventsBalance SheetIncome StatementStatement of Cash FlowsAssets=Liabilities+Stockholders’EquityRevenue–Expenses=Net IncomeCash+Merchandise Inventory=Accounts Payable+Common Stock+Retained EarningsPaidaccounts payable+=++–=Typewritten answers only, please, no handwrittenanswers. Thank you.