Partial Balance Sheets and Additional Information Are Listed Below for Ensign

question 40

Essay

Partial balance sheets and additional information are listed below for Ensign Company.
Additional information for 2009:
Net income was $170,000.
Depreciation expense was $30,000.
Sales totaled $400,000.
Cost of goods sold totaled $145,000.
Required:
Calculate the amount of cash paid to merchandise suppliers during 2009.
Ensign Company
Partial Balance Sheets
as of December 31
$\begin{array} { l r r } \text { Assets } & \mathbf { 2 0 0 9 } & \mathbf { 2 0 0 8 } \\ \text { Cash } & \$ 20,000 & \$ 40,000 \\ \text { Accounts receivable } & 90,000 & 60,000 \\ \text { Inventory } & 20,000 & 25,000 \\ \text { Liabilities } & & \\ \text { Accounts payable } & \$ 72,000 & \$ 58,000 \end{array}$

---

Definitions:

Implicit Memory

A type of long-term memory that operates below conscious awareness, influencing thoughts, behaviors, and skills without deliberate recall.

Proactive Interference

The phenomenon where older memories inhibit the ability to remember new information.

Source Amnesia

A memory disorder in which an individual can remember information but not the context or source from which they learned it.

Unintentionally Plagiarizing

Accidentally copying someone else's work or ideas without proper acknowledgment, often due to carelessness or lack of awareness about plagiarism rules.