GOAT Corporation reported the following selected account bal…

GOAT Corporation reported the following selected account balances on its financial statements for the two most recent reporting periods (Year 2 is the most current):   Account Title Year 2 Year 1 Cash $224,000 $185,000 Accounts Receivable (net) 39,000 47,000 Inventory 108,000 73,000 Accounts Payable 17,000 26,000 Sales 432,000 369,000 Cost of Goods Sold 152,000 143,000 Operating Expenses 103,000 94,000 How much cash was paid to suppliers in Year 2?

On August 3, Vicky-Vesta Dance Corporation paid $400,000 to…

On August 3, Vicky-Vesta Dance Corporation paid $400,000 to Flavius Aetius Builders for the construction of a building.  Construction was completed on October 16; during this period, Vicky-Vesta calculated actual interest of $32,000 and avoidable interest of $18,000.  The cost basis of the building should be:

Titanic Corporation exchanged an old boat, previously used i…

Titanic Corporation exchanged an old boat, previously used in operations, to Jack & Rose Partners, for a new boat.  At the time of the exchange, the old boat had a recorded cost of $720,000, Accumulated Depreciation of $140,000, and a fair market value of $600,000.  Titanic also paid $145,000 cash for the new

GOAT Corporation reported the following selected account bal…

GOAT Corporation reported the following selected account balances on its financial statements for the two most recent reporting periods (Year 2 is the most current):   Account Title Year 2 Year 1 Cash $224,000 $185,000 Accounts Receivable (net) 39,000 47,000 Inventory 108,000 73,000 Accounts Payable 17,000 26,000 Sales 432,000 369,000 Cost of Goods Sold 152,000 143,000 Operating Expenses 103,000 94,000 How much cash was collected from customers in Year 2?