Homework Answers
| Account Titles and Explanation | Debit | Credit |
| Notes receivable | 52000 | |
| Sales revenue | 52000 | |
| (To record sales) | ||
| Cost of goods sold (40 x $900) | 36000 | |
| Inventory | 36000 | |
| (To record cost of goods sold) |
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Problem 18-5 (Part Level Submission) Concord Ranch & Marigold is a distributor of ranch and farm...
Problem 18-5 (Part Level Submission) Concord Ranch & Marigold is a distributor of ranch and farm...
Problem 18-5 (Part Level Submission) Concord Ranch & Marigold is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing, grain dryers, and barn winches. Most products are sold direct via its company catalog and Internet site. However, given some of its specialty products, select farm implement stores carry Concord's products. Pricing and cost information on three of Concord's most popular products are as follows. Item Mini-trencher Power fence hole auger...
Crane Ranch & Cheyenne is a distributor of ranch and farm equipment. Its products range from...
Crane Ranch & Cheyenne is a distributor of ranch and farm
equipment. Its products range from small tools, power equipment for
trench-digging and fencing, grain dryers, and barn winches. Most
products are sold direct via its company catalog and Internet site.
However, given some of its specialty products, select farm
implement stores carry Crane’s products. Pricing and cost
information on three of Crane’s most popular products are as
follows.
Item
Standalone
Selling Price (Cost)
Mini-trencher
$ 3,700
($2,100
)
Power...
Problem 18-05 (Part Level Submission) Pronghorn Ranch & Farm is a distributor of ranch and farm...
Problem 18-05 (Part Level Submission) Pronghorn Ranch & Farm is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing, grain dryers, and barn winches. Most products are sold direct via its company catalog and Internet site. However, given some of its specialty products, select farm implement stores carry Pronghorn's products. Pricing and cost information on three of Pronghorn's most popular products are as follows. Item Mini-trencher Power fence hole auger...
Oriole Ranch & Waterway is a distributor of ranch and farm equipment. Its products range from...
Oriole Ranch & Waterway is a distributor of ranch and farm
equipment. Its products range from small tools, power equipment for
trench-digging and fencing, grain dryers, and barn winches. Most
products are sold direct via its company catalog and Internet site.
However, given some of its specialty products, select farm
implement stores carry Oriole’s products. Pricing and cost
information on three of Oriole’s most popular products are as
follows.
Item
Standalone
Selling Price (Cost)
Mini-trencher
$ 3,600
($2,000
)
Power...
Crane Ranch & Farm is a distributor of ranch and farm equipment. Its products range from...
Crane Ranch & Farm is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing, grain dryers, and bam winches. Most products are sold direct via its company catalog and Internet site. However, given some of its specialty products, select farm implement stores carry Crane's products. Pricing and cost information on three of Crane's most popular products are as follows. Standalone Selling Price (Cost) ($2,000 ) (900 ) (11,000 ) Item...
Cullumber Ranch & Riverbed is a distributor of ranch and farm equipment. Its products range from...
Cullumber Ranch & Riverbed is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing, grain dryers, and barn winches. Most products are sold direct via its company catalog and Internet site. However, given some of its specialty products, select farm implement stores carry Cullumber's products. Pricing and cost information on three of Cullumber's most popular products are as follows Standalone Selling Price (Cost) Item $4,000 ($2,000) Mini-trencher Power fence hole...
Carla Ranch & Farm is a distributor of ranch and farm equipment. Its products range from...
Carla Ranch & Farm is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing, grain dryers, and barn winches. Most products are sold direct via its company catalog and Internet site. However, given some of its specialty products, select farm implement stores carry Carla's products. Pricing and cost information on three of Carla's most popular products are as follows. Item Mini-trencher Power fence hole auger Grain/hay dryer Standalone Selling Price...
Sage Ranch & Farm is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing, grain dryers, and barn winches. Most products are sold direct via its company catalog and Internet site. H
Sage Ranch & Farm is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing, grain dryers, and barn winches. Most products are sold direct via its company catalog and Internet site. However, given some of its specialty products, select farm implement stores carry Sage’s products. Pricing and cost information on three of Sage’s most popular products are as follows.ItemStandaloneSelling Price (Cost)Mini-trencher$ 3,900($2,000)Power fence hole auger1,300(900)Grain/hay dryer12,900(11,000)Respond to the requirements related to the following independent...
Economy completes manual omy and Epic have documented the warehouse arrange ready to ship, and Economy...
Economy completes manual omy and Epic have documented the warehouse arrange ready to ship, and Economy may not sell these units to other customers. The (1) February 1, 2017, and (2) April 1, 2017 P18-5 (L02,3,4) (Allocate Transaction Price, Retums, and Consignments) Ritt Ranch & Farm is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing grain dryers, and barn winches. Most products are sold direct via its company catalog...
what is the answer for part b? THanks Question 8 Concord Limited, a private company following...
what is the answer for part b?
THanks
Question 8 Concord Limited, a private company following ASPE, includes one coupon in each box of soap powder that it produces, and 8 coupons are redeemable for a premium (a kitchen utensil). In 2020, Concord Corporation purchased 8,810 premiums at $0.80 each and sold 97,600 boxes of soap powder at $2.80 per box. In total, 32,000 coupons were presented for redemption in 2020. It is estimated that 60% of the coupons will...
Problem 18-5 (Part Level Submission) Concord Ranch & Marigold is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing, grain dryers, and barn winches. Most products are sold direct via its company catalog and Internet site. However, given some of its specialty products, select farm implement stores carry Concord's products. Pricing and cost information on three of Concord's most popular products are as follows. Item Mini-trencher Power fence hole auger...
Crane Ranch & Cheyenne is a distributor of ranch and farm
equipment. Its products range from small tools, power equipment for
trench-digging and fencing, grain dryers, and barn winches. Most
products are sold direct via its company catalog and Internet site.
However, given some of its specialty products, select farm
implement stores carry Crane’s products. Pricing and cost
information on three of Crane’s most popular products are as
follows.
Item
Standalone
Selling Price (Cost)
Mini-trencher
$ 3,700
($2,100
)
Power...
Problem 18-05 (Part Level Submission) Pronghorn Ranch & Farm is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing, grain dryers, and barn winches. Most products are sold direct via its company catalog and Internet site. However, given some of its specialty products, select farm implement stores carry Pronghorn's products. Pricing and cost information on three of Pronghorn's most popular products are as follows. Item Mini-trencher Power fence hole auger...
Oriole Ranch & Waterway is a distributor of ranch and farm
equipment. Its products range from small tools, power equipment for
trench-digging and fencing, grain dryers, and barn winches. Most
products are sold direct via its company catalog and Internet site.
However, given some of its specialty products, select farm
implement stores carry Oriole’s products. Pricing and cost
information on three of Oriole’s most popular products are as
follows.
Item
Standalone
Selling Price (Cost)
Mini-trencher
$ 3,600
($2,000
)
Power...
Crane Ranch & Farm is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing, grain dryers, and bam winches. Most products are sold direct via its company catalog and Internet site. However, given some of its specialty products, select farm implement stores carry Crane's products. Pricing and cost information on three of Crane's most popular products are as follows. Standalone Selling Price (Cost) ($2,000 ) (900 ) (11,000 ) Item...
Cullumber Ranch & Riverbed is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing, grain dryers, and barn winches. Most products are sold direct via its company catalog and Internet site. However, given some of its specialty products, select farm implement stores carry Cullumber's products. Pricing and cost information on three of Cullumber's most popular products are as follows Standalone Selling Price (Cost) Item $4,000 ($2,000) Mini-trencher Power fence hole...
Carla Ranch & Farm is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing, grain dryers, and barn winches. Most products are sold direct via its company catalog and Internet site. However, given some of its specialty products, select farm implement stores carry Carla's products. Pricing and cost information on three of Carla's most popular products are as follows. Item Mini-trencher Power fence hole auger Grain/hay dryer Standalone Selling Price...
Economy completes manual omy and Epic have documented the warehouse arrange ready to ship, and Economy may not sell these units to other customers. The (1) February 1, 2017, and (2) April 1, 2017 P18-5 (L02,3,4) (Allocate Transaction Price, Retums, and Consignments) Ritt Ranch & Farm is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing grain dryers, and barn winches. Most products are sold direct via its company catalog...
what is the answer for part b?
THanks
Question 8 Concord Limited, a private company following ASPE, includes one coupon in each box of soap powder that it produces, and 8 coupons are redeemable for a premium (a kitchen utensil). In 2020, Concord Corporation purchased 8,810 premiums at $0.80 each and sold 97,600 boxes of soap powder at $2.80 per box. In total, 32,000 coupons were presented for redemption in 2020. It is estimated that 60% of the coupons will...
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