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Total liabilities and stockholders' equity $1,279,600 Accounts payable at the end of December would be:
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Total liabilities and stockholders' equity $1,279,600 Accounts payable at the end of December would be:

User Mamdouh Saeed
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1 Answer

4 votes

Answer:

d. $258,700

Step-by-step explanation:

Note: The full question is attached as picture below

Purchase Budget for December

Particulars Amount

Cost of goods sold (65% of 390,000) $253,500

Add: Desired ending inventory $208,000

(80% of following monthly COGS)

Total inventory required $461,500

Less: Beginning inventory $202,800

Purchases $258,700

Thus, the Accounts payable at the end of December is $258,700

Total liabilities and stockholders' equity $1,279,600 Accounts payable at the end-example-1
Total liabilities and stockholders' equity $1,279,600 Accounts payable at the end-example-2
Total liabilities and stockholders' equity $1,279,600 Accounts payable at the end-example-3
User Oleksii Shmalko
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