Tx16. Pay supplier - $6,000
The net profit brought forward is $160.
What do we have more of, or perhaps less of, as a result of this transaction?
If you are using version 4.2 materials, this transaction did not exist (although you can add it yourself of course!).
There are no videos (yet) for this transaction.
Image Tx16-1: Solution
What do we have more of, or perhaps less of, as a result of this transaction?
If you are using version 4.2 materials, this transaction did not exist (although you can add it yourself of course!).
There are no videos (yet) for this transaction.
Image Tx16-1: Solution
Observations:
This obligation was created on January 31 (Tx4) when we purchased the equipment for $6,000 on 30 days payment terms. That means the due date for this payment was March 2 (if we assume February had 28 days). We paid on March 31, some 4 weeks late.
Does this matter?
The net profit at the end of the activity is $160.