Turquoise, Incorporated is trying to decide whether to purchase identical Inventory from one of the following...
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Turquoise, Incorporated is trying to decide whether to purchase identical Inventory from one of the following suppliers Supplier A $100 1/10, n/30 FOB shipping point $10 Supplier 8 $110 2/10, n/30 FOB destination $12 Cost Invoice teres Shipping teres Shipping cost Required: Assume the company will pay within the discount period. What is the actual cost of the inventory if purchased from each supplier? 26 (Round your final answers to 2 decimal pleces.) Supplier A Supplier B Actual cost company is 4U%. $ 369, 340 789,950 5, 200 7,700 13,000 225,900 690, 500 143, 300 299,700 92, 600 Cash Accounts Receivable Interest Receivable Prepaid Insurance Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Revenue Income Tax Payable Salaries and Wages Payable Notes Payable (long-term) Long-Term Debt Common Stock Retained Earnings Dividends Service Revenue Interest Revenue Supplies Expense Repairs and Maintenance Expense Depreciation Expense Rent Expense Income Tax Expense 28, 800 374,040 247,600 402, 200 221,800 23,600 958, 000 132,100 354, 200 262, 300 61,350 32,300 Unknown Required: a. Calculate the income before income tax. b. Calculate the income tax expense. c. Calculate the net income. Income Before Income Tax Income Tax Expense Net Income Turquoise, Incorporated is trying to decide whether to purchase identical Inventory from one of the following suppliers Supplier A $100 1/10, n/30 FOB shipping point $10 Supplier 8 $110 2/10, n/30 FOB destination $12 Cost Invoice teres Shipping teres Shipping cost Required: Assume the company will pay within the discount period. What is the actual cost of the inventory if purchased from each supplier? 26 (Round your final answers to 2 decimal pleces.) Supplier A Supplier B Actual cost company is 4U%. $ 369, 340 789,950 5, 200 7,700 13,000 225,900 690, 500 143, 300 299,700 92, 600 Cash Accounts Receivable Interest Receivable Prepaid Insurance Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Revenue Income Tax Payable Salaries and Wages Payable Notes Payable (long-term) Long-Term Debt Common Stock Retained Earnings Dividends Service Revenue Interest Revenue Supplies Expense Repairs and Maintenance Expense Depreciation Expense Rent Expense Income Tax Expense 28, 800 374,040 247,600 402, 200 221,800 23,600 958, 000 132,100 354, 200 262, 300 61,350 32,300 Unknown Required: a. Calculate the income before income tax. b. Calculate the income tax expense. c. Calculate the net income. Income Before Income Tax Income Tax Expense Net Income
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