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Taha Company purchased $8,000 of inventory under terms FOB destination. Freight cost amounted to $200. The cost of inventory and freight were paid with cash. Which of the following shows how the

Taha Company purchased $8,000 of inventory under terms FOB destination. Freight cost amounted to $200. The cost of inventory and freight were paid with cash. Which of the following shows how the recognition of this purchase, including freight costs if applicable, will affect the Companys financial statements? Balance Sheet Statement of Income Statement Assets Cash Flows Net Inc. Exp. Rev. Equity Inventory Liab. Cash + (8,200) NA $8,200 NA NA (8,200) 8,200 NA A. (8,200) OA (8,200) OA ($8,000) OA NA NA NA NA (8,200) (8,000) C. (8,000) D. NA 8,200 B. (200) 200 NA NA 8,000 NA NA NA NA NA 8,000 NA

Mar 02 2020 Read more Less More

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