Homework Answers
|
a. |
Accounts Payable |
$45100 |
|
b. |
Accounts Receivable |
$88300 |
|
c. |
Cash |
$22200 |
|
d. |
Inventory |
$254000 |
|
e. |
Sales Revenue |
$117300 |
a. Accounts Payable = 14300+77300-46500 = $45100
b. Accounts Receivable = 21700+112000-45400 = $88300
c. Cash = 16400+60900-55100= $22200
d. Inventory = 12500-2200+77300-62200= $25400
e. Sales Revenue = 112000+5300 = 117,706
Add Answer to:
Exercise 7-14 Selected account balances for Oriole Company at January 1, 2020, are presented below. Accounts...
Exercise 7-14 Selected account balances for Cullumber Company at January 1, 2020, are presented below. Accounts...
Exercise 7-14 Selected account balances for Cullumber Company at January 1, 2020, are presented below. Accounts Payable Accounts Receivable Cash Inventory $13,400 21,800 17,800 14,300 Cullumber's sales journal for January shows a total of $110,000 in the selling price column, and its one-column purchases journal for January shows a total of $77,800 The column totals in Cullumber's cash receipts journal are Cash Dr. $60,600; Sales Discounts Dr. $2,700; Accounts Receivable Cr. $45,900; Sales Revenue Cr. $5,900; and Other Accounts Cr....
Selected account balances for Carla Vista Company at January 1, 2020, are presented below. Accounts Payable...
Selected account balances for Carla Vista Company at January 1, 2020, are presented below. Accounts Payable Accounts Receivable Cash Inventory $13,100 22,500 17,400 13,900 Carla Vista's sales journal for January shows a total of $110,000 in the selling price column, and its one-column purchases journal for January shows a total of $76,600. The column totals in Carla Vista's cash receipts journal are Cash Dr. $60,900; Sales Discounts Dr. $1,800; Accounts Receivable Cr. $45,800; Sales Revenue Cr. $5,000; and Other Accounts...
Problem 7-4A Selected accounts from the chart of accounts of Mercer Company are shown below 101...
Problem 7-4A Selected accounts from the chart of accounts of Mercer Company are shown below 101 Cash 112 Accounts Receivable 412 Sales Returns and Allowances 120 Inventory 126 Supplies 157 Equipment 201 Accounts Payable 401 Sales Revenue 414 Sales Discounts 505 Cost of Goods Sold 726 Salaries and Wages Expense The cost of all merchandise sold was 60% of the sales price. During January, Mercer completed the following transactions Jan. 3 Purchased merchandise on account from Gallagher Co. $9,000 4...
Please try to keep the same format! Problem 7-04A Selected accounts from the chart of accounts...
Please try to keep the same format!
Problem 7-04A Selected accounts from the chart of accounts of Blossom Company are shown below. 101 Cash 401 Sales Revenue 112 Accounts Receivable 412 Sales Returns and Allowances 120 Inventory 414 Sales Discounts 126 Supplies 505 Cost of Goods Sold 157 Equipment 726 Salaries and Wages Expense 201 Accounts Payable The cost of all merchandise sold was 60% of the sales price. During January, Blossom completed the following transactions. Jan. 3 Purchased merchandise...
Selected accounts from the chart of accounts of Nader Company are shown below. 101 Cash 401...
Selected accounts from the chart of accounts of Nader Company are shown below. 101 Cash 401 Sales Revenue 112 Accounts Receivable 412 Sales Returns and Allowances 120 Inventory 414 Sales Discounts 126 Supplies 505 Cost of Goods Sold 157 Equipment 726 Salaries and Wages Expense 201 Accounts Payable The cost of all merchandise sold was 60% of the sales price. During January, Nader completed the following transactions. • Jan. 3 Purchased merchandise on account from Gallagher Co. $9,000. • 4...
complete the worksheet The trial balance of Oriole Company contained the following accounts at November 30,...
complete the worksheet
The trial balance of Oriole Company contained the following accounts at November 30, the end of the company's fiscal year. The company uses the perpetual inventory system. Oriole Company Trial Balance November 30, 2019 Credit Debit $ 8,600 30,500 44,200 6,200 131,000 $ 26,000 55,000 33,900 60,000 40,000 Cash Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Cost of Goods Sold Salaries and...
Problem 7-3A receipts journal (perpetual The cash receipts journal shown below contains five entries. All five...
Problem 7-3A receipts journal (perpetual The cash receipts journal shown below contains five entries. All five entries are for legiti mentory mate cash receipt transactions, but the journal contains some errors in recording the transactions. In fact, only one entry is correct, and each of the other four entries contains Corrected cash receipts one error. Total debit to Cash, $83,000 423 Chapter 7 Accounting Information Systems Page 22 Cash Receipts Journal Other Accounts Debits Sold Dr Post Amount Inventory Sales...
Current Attempt in Progress Oriole Company sells one product. Presented below is information for January for...
Current Attempt in Progress Oriole Company sells one product. Presented below is information for January for Oriole Company Jan. 1 Inventory 120 units at $5 each 4 Sale 96 units at $8 each 11 Purchase 141 units at $7 each 13 Sale 113 units at $9 each 20 Purchase 160 units at $ each 27 Sale 104 units at $11 each Oriole uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Oriole uses a periodic...
Wildlife Wholesale Supply sold birdseed to a retailer for $2,060, receiving cash at the time of...
Wildlife Wholesale Supply sold birdseed to a retailer for $2,060, receiving cash at the time of sale. The cost of the birdseed was $1,570. When recording the collection from the customer, in its cash receipts journal, Wildlife would enter Multiple Choice $2,060 in the Cash Dr. column and $2,060 in the Accounts Receivable Cr. column. $1,570 in the Cash Dr. column and $1,570 in the Accounts Receivable Cr. column. $2,060 in the Cash Dr. column; $2,060 in the Sales Cr....
Maxie's Game World sold games to a customer on credit for $2,700, terms 2/10,n/30 and the cost of the games was...
Maxie's Game World sold games to a customer on credit for $2,700, terms 2/10,n/30 and the cost of the games was $1,800. When recording the sales transaction in its sales journal, Maxie's would enter: Multiple Choice $1,800 in the Accounts Receivable Dr./Sales Cr. column and $2.700 in the Cost of Goods Sold Dr./Inventory Cr.column $2.700 in the Accounts Receivable Dr./Sales Cr. column and $1,800 in the Accounts Payable Dr./Purchases Cr. column () $2,700 in the Accounts Receivable Dr./Sales Cr. column...
Exercise 7-14 Selected account balances for Cullumber Company at January 1, 2020, are presented below. Accounts Payable Accounts Receivable Cash Inventory $13,400 21,800 17,800 14,300 Cullumber's sales journal for January shows a total of $110,000 in the selling price column, and its one-column purchases journal for January shows a total of $77,800 The column totals in Cullumber's cash receipts journal are Cash Dr. $60,600; Sales Discounts Dr. $2,700; Accounts Receivable Cr. $45,900; Sales Revenue Cr. $5,900; and Other Accounts Cr....
Selected account balances for Carla Vista Company at January 1, 2020, are presented below. Accounts Payable Accounts Receivable Cash Inventory $13,100 22,500 17,400 13,900 Carla Vista's sales journal for January shows a total of $110,000 in the selling price column, and its one-column purchases journal for January shows a total of $76,600. The column totals in Carla Vista's cash receipts journal are Cash Dr. $60,900; Sales Discounts Dr. $1,800; Accounts Receivable Cr. $45,800; Sales Revenue Cr. $5,000; and Other Accounts...
Problem 7-4A Selected accounts from the chart of accounts of Mercer Company are shown below 101 Cash 112 Accounts Receivable 412 Sales Returns and Allowances 120 Inventory 126 Supplies 157 Equipment 201 Accounts Payable 401 Sales Revenue 414 Sales Discounts 505 Cost of Goods Sold 726 Salaries and Wages Expense The cost of all merchandise sold was 60% of the sales price. During January, Mercer completed the following transactions Jan. 3 Purchased merchandise on account from Gallagher Co. $9,000 4...
Please try to keep the same format!
Problem 7-04A Selected accounts from the chart of accounts of Blossom Company are shown below. 101 Cash 401 Sales Revenue 112 Accounts Receivable 412 Sales Returns and Allowances 120 Inventory 414 Sales Discounts 126 Supplies 505 Cost of Goods Sold 157 Equipment 726 Salaries and Wages Expense 201 Accounts Payable The cost of all merchandise sold was 60% of the sales price. During January, Blossom completed the following transactions. Jan. 3 Purchased merchandise...
complete the worksheet
The trial balance of Oriole Company contained the following accounts at November 30, the end of the company's fiscal year. The company uses the perpetual inventory system. Oriole Company Trial Balance November 30, 2019 Credit Debit $ 8,600 30,500 44,200 6,200 131,000 $ 26,000 55,000 33,900 60,000 40,000 Cash Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Cost of Goods Sold Salaries and...
Problem 7-3A receipts journal (perpetual The cash receipts journal shown below contains five entries. All five entries are for legiti mentory mate cash receipt transactions, but the journal contains some errors in recording the transactions. In fact, only one entry is correct, and each of the other four entries contains Corrected cash receipts one error. Total debit to Cash, $83,000 423 Chapter 7 Accounting Information Systems Page 22 Cash Receipts Journal Other Accounts Debits Sold Dr Post Amount Inventory Sales...
Current Attempt in Progress Oriole Company sells one product. Presented below is information for January for Oriole Company Jan. 1 Inventory 120 units at $5 each 4 Sale 96 units at $8 each 11 Purchase 141 units at $7 each 13 Sale 113 units at $9 each 20 Purchase 160 units at $ each 27 Sale 104 units at $11 each Oriole uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Oriole uses a periodic...
Wildlife Wholesale Supply sold birdseed to a retailer for $2,060, receiving cash at the time of sale. The cost of the birdseed was $1,570. When recording the collection from the customer, in its cash receipts journal, Wildlife would enter Multiple Choice $2,060 in the Cash Dr. column and $2,060 in the Accounts Receivable Cr. column. $1,570 in the Cash Dr. column and $1,570 in the Accounts Receivable Cr. column. $2,060 in the Cash Dr. column; $2,060 in the Sales Cr....
Maxie's Game World sold games to a customer on credit for $2,700, terms 2/10,n/30 and the cost of the games was $1,800. When recording the sales transaction in its sales journal, Maxie's would enter: Multiple Choice $1,800 in the Accounts Receivable Dr./Sales Cr. column and $2.700 in the Cost of Goods Sold Dr./Inventory Cr.column $2.700 in the Accounts Receivable Dr./Sales Cr. column and $1,800 in the Accounts Payable Dr./Purchases Cr. column () $2,700 in the Accounts Receivable Dr./Sales Cr. column...
Most questions answered within 3 hours.
-
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 23 minutes ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 54 minutes ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 2 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 2 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 3 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 5 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 5 hours ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 5 hours ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 5 hours ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 5 hours ago -
Explain in steps on the following code
What would be the output when executed
using System;...
asked 5 hours ago -
Given the information in the table, which of the following
statements is CORRECT?
Stock A
Stock...
asked 5 hours ago