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3. (a) Did the Company’s “Trade accounts payable” increase or decrease over the last year?4. (a) Did the Company’s “Net sales” increase or decrease over the last year?5. (a) Did the Company’s “Interest Expense” increase or decrease over the last year?
6. Assume that, during 2014, the Company purchased an additional $38.3 million in raw materials inventory for cash.Write the journal entry necessary to record this transaction.AccountDebitCreditRaw Material$38.3MCash$38.3M7. Assume that interest of $49.7 million was due and paid for by the Company during 2014. Write the journal entrynecessary to record these transactions.AccountDebitCreditInterest expense$49.7MCash$49.7M8. Assume thatallof the Company’s net sales are “on account.” Write the journal entry necessary to record total netsales for 2014.AccountDebitCreditAccounts receivable$4,243.2MSales Revenue$4,243.2M9. Write the journal entry necessary to record the Company’s “Selling, general, and administrative expenses” for2014, assuming that 90 percent of the expense was paid for with cash while 10 percent was paid for on credit toregular suppliers. (2 pts)On page 45:AccountDebitCreditSelling, general and administrative expenses$1,122MCash$1,009.8MAccounts Payable$1,112.2M