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Cash Flows Event No. Balance Sheet Inventory Cash + = 229,600 (56,350) (46,710) 0 (57,636) 68,904...
The Brick Company had cash sales of $229,600 for Year 1, its first year of operation. On April 2, the company purchased...
The Brick Company had cash sales of $229,600 for Year 1, its first year of operation. On April 2, the company purchased 230 units of inventory at $245 per unit. On September 1, an additional 173 units were purchased for $270 per unit. The company had 65 units on hand at the end of the year. The company's income tax rate is 40 percent. All transactions are cash transactions. Required a. The preceding paragraph describes five accounting events: (1) a...
The Brick Company had cash sales of $229,900 for Year 1, its first year of operation....
The Brick Company had cash sales of $229,900 for Year 1, its first year of operation. On April 2, the company purchased 226 units of Inventory at $175 per unit. On September 1, an additional 170 units were purchased for $193 per unit. The company had 62 units on hand at the end of the year. The company's income tax rate is 40 percent. All transactions are cash transactions. Required a. The preceding paragraph describes five accounting events: (1) a...
The Brick Company had cash sales of $229,400 for Year 1, its first year of operation. On April 2, the company pu...
The Brick Company had cash sales of $229,400 for Year 1, its first year of operation. On April 2, the company purchased 208 units of inventory at $195 per unit. On September 1, an additional 156 units were purchased for $215 per unit. The company had 36 units on hand at the end of the year. The company's income tax rate is 40 percent. All transactions are cash transactions. Required a. The preceding paragraph describes five accounting events: (1) a...
The Brick Company had cash sales of $222,400 for Year 1, its first year of operation....
The Brick Company had cash sales of $222,400 for Year 1, its first year of operation. On April 2, the company purchased 206 units of inventory at $170 per unit. On September 1, an additional 155 units were purchased for $187 per unit. The company had 43 units on hand at the end of the year. The company's income tax rate is 40 percent. All transactions are cash transactions. Required a. The preceding paragraph describes five accounting events: (1) a...
ONLY NEED NUMBER C! Balance sheet, statement of cash flows, and income statement please! INIC ac...
ONLY NEED NUMBER C! Balance sheet, statement of cash flows, and
income statement please!
INIC ac ng ICULUS ULANICU UTALII, C. CLICCICU LIIC BOIRIWIng talanes a UL Jalaly I, Ica 2. Cash Beginning inventory Common stock Retained earnings $36,000 24,000 (200 units a $120) 25,000 The following five transactions occurred in Year 2: 1. First purchase (cash) 130 units @ $124 2. Second purchase (cash) 220 units @ $128 3. Sales (all cash) 350 units @ $320 4. Paid $24,000...
Need the balance sheet and statement if cash flows that's all really. The accounting records of...
Need the balance sheet and statement if cash flows that's all
really.
The accounting records of Wall's China Shop reflected the following balances as of January 1, 2018: Cash Beginning inventory Common stock Retained earnings $16,500 19,110 (210 units @ $91) 15,400 20, 210 The following five transactions occurred in 2018: 1. First purchase (cash) 120 units @ $93 2. Second purchase (cash) 200 units @ $101 3. Sales (all cash) 360 units @ $186 4. Paid $13,950 cash for...
The accounting records of Wall's China Shop reflected the following balances as of January 1, Year 2: Cash $ 19,0...
The accounting records of Wall's China Shop reflected the following balances as of January 1, Year 2: Cash $ 19,000 Beginning inventory 15,040 (160 units @ $94) Common stock 15,500 Retained earnings 18,540 The following five transactions occurred in Year 2: First purchase (cash) 115 units @ $96 Second purchase (cash) 200 units @ $104 Sales (all cash) 420 units @ $187 Paid $14,500 cash for salaries expenses. Paid cash for income tax at the rate of 40 percent of...
The accounting records of Wall's China Shop reflected the following balances as of January 1. Year...
The accounting records of Wall's China Shop reflected the following balances as of January 1. Year 2 Cash Beginning inventory Common stock Retained earnings $80, 100 33,000 (220 units @ $150) 50,000 63,100 ook The following five transactions occurred in Year 2- 1. First purchase (cash) 150 units @ $155 2. Second purchase (cash) 160 units @ $160 3. Sales (all cash): 410 units @ $320 4. Paid $38,000 cash for salaries expense 5. Paid cash for income tax at...
Daniel Company uses a periodic inventory system. Data for the current year: beginning merchandise inventory (ending...
Daniel Company uses a periodic inventory system. Data for the
current year: beginning merchandise inventory (ending inventory
December 31, prior year), 2,000 units at $38; purchases, 8,000
units at $40; expenses (excluding income taxes), $184,500; ending
inventory per physical count at December 31, current year, 1,800
units; sales, 8,200 units; sales price per unit, $75; and average
income tax rate, 30 percent.
Compute cost of goods sold under the FIFO, LIFO, and average cost inventory costing methods. (Do not round...
The following information pertains to Mason Company for Year 2: $20 Beginning inventory Units purchased 90...
The following information pertains to Mason Company for Year 2: $20 Beginning inventory Units purchased 90 units 280 units @ @ $25 Ending inventory consisted of 40 units. Mason sold 330 units at $50 each. All purchases and sales were made with cash. Operating expenses amounted to $4100. Required a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. b. What is the amount of net income using...
The Brick Company had cash sales of $229,600 for Year 1, its first year of operation. On April 2, the company purchased 230 units of inventory at $245 per unit. On September 1, an additional 173 units were purchased for $270 per unit. The company had 65 units on hand at the end of the year. The company's income tax rate is 40 percent. All transactions are cash transactions. Required a. The preceding paragraph describes five accounting events: (1) a...
The Brick Company had cash sales of $229,900 for Year 1, its first year of operation. On April 2, the company purchased 226 units of Inventory at $175 per unit. On September 1, an additional 170 units were purchased for $193 per unit. The company had 62 units on hand at the end of the year. The company's income tax rate is 40 percent. All transactions are cash transactions. Required a. The preceding paragraph describes five accounting events: (1) a...
The Brick Company had cash sales of $229,400 for Year 1, its first year of operation. On April 2, the company purchased 208 units of inventory at $195 per unit. On September 1, an additional 156 units were purchased for $215 per unit. The company had 36 units on hand at the end of the year. The company's income tax rate is 40 percent. All transactions are cash transactions. Required a. The preceding paragraph describes five accounting events: (1) a...
The Brick Company had cash sales of $222,400 for Year 1, its first year of operation. On April 2, the company purchased 206 units of inventory at $170 per unit. On September 1, an additional 155 units were purchased for $187 per unit. The company had 43 units on hand at the end of the year. The company's income tax rate is 40 percent. All transactions are cash transactions. Required a. The preceding paragraph describes five accounting events: (1) a...
ONLY NEED NUMBER C! Balance sheet, statement of cash flows, and
income statement please!
INIC ac ng ICULUS ULANICU UTALII, C. CLICCICU LIIC BOIRIWIng talanes a UL Jalaly I, Ica 2. Cash Beginning inventory Common stock Retained earnings $36,000 24,000 (200 units a $120) 25,000 The following five transactions occurred in Year 2: 1. First purchase (cash) 130 units @ $124 2. Second purchase (cash) 220 units @ $128 3. Sales (all cash) 350 units @ $320 4. Paid $24,000...
Need the balance sheet and statement if cash flows that's all
really.
The accounting records of Wall's China Shop reflected the following balances as of January 1, 2018: Cash Beginning inventory Common stock Retained earnings $16,500 19,110 (210 units @ $91) 15,400 20, 210 The following five transactions occurred in 2018: 1. First purchase (cash) 120 units @ $93 2. Second purchase (cash) 200 units @ $101 3. Sales (all cash) 360 units @ $186 4. Paid $13,950 cash for...
The accounting records of Wall's China Shop reflected the following balances as of January 1. Year 2 Cash Beginning inventory Common stock Retained earnings $80, 100 33,000 (220 units @ $150) 50,000 63,100 ook The following five transactions occurred in Year 2- 1. First purchase (cash) 150 units @ $155 2. Second purchase (cash) 160 units @ $160 3. Sales (all cash): 410 units @ $320 4. Paid $38,000 cash for salaries expense 5. Paid cash for income tax at...
Daniel Company uses a periodic inventory system. Data for the
current year: beginning merchandise inventory (ending inventory
December 31, prior year), 2,000 units at $38; purchases, 8,000
units at $40; expenses (excluding income taxes), $184,500; ending
inventory per physical count at December 31, current year, 1,800
units; sales, 8,200 units; sales price per unit, $75; and average
income tax rate, 30 percent.
Compute cost of goods sold under the FIFO, LIFO, and average cost inventory costing methods. (Do not round...
The following information pertains to Mason Company for Year 2: $20 Beginning inventory Units purchased 90 units 280 units @ @ $25 Ending inventory consisted of 40 units. Mason sold 330 units at $50 each. All purchases and sales were made with cash. Operating expenses amounted to $4100. Required a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. b. What is the amount of net income using...
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