Homework Answers
Solution:
| Journal Entries | |||
| Event | Particulars | Debit | Credit |
| 1 | Inventory Dr | $2,675.00 | |
| To Accounts payable | $2,675.00 | ||
| (To record purchase of inventory) | |||
Add Answer to:
1. Data Table Aug 1 Beginning inventory .... 15 Purchase 26 Purchase 9 units @ $...
Requirements or Big Fis ations fro Journalize the following for Big Fish Company under the perpetual...
Requirements or Big Fis ations fro Journalize the following for Big Fish Company under the perpetual system: 1. Total August purchases in one summary entry. All purchases were on credit. 2. Total August sales and cost of goods sold in two summary entries. The selling price was $625 per unit, and all sales were on credit. Assume that Big Fish uses the FIFO inventory method. 3. Under FIFO, how much gross profit would Big Fish earn on for the month...
Wiose mu ments. em Journalize for Big Fis were on credit. Assu cording the entry for...
Wiose mu ments. em Journalize for Big Fis were on credit. Assu cording the entry for A Journalize the following for Big Fish Company under the perpetual system: 1. Total August purchases in one summary entry. All purchases were on credit. 2. Total August sales and cost of goods sold in two summary entries. The selling price was $625 per unit, and all sales were on credit. Assume that Big Fish uses the FIFO inventory method. 3. Under FIFO, how...
f goods sold units sold ar ost, then (c) hding Rour Jul 1 Beginning inventory..... 15...
f goods sold units sold ar ost, then (c) hding Rour Jul 1 Beginning inventory..... 15 Purchase 26 Purchase 9 units @ $ 5 units @ 13 units @ 165 = $ 1,485 166 = $ 830 175 = $ 2,275 Print Done Fields and then click Check Answer. Clear All A P CUEU L UCU U Triar ELETTRICITICIARELUUTISTE pute cost of goo number of units ) average cost, the ventory using all final ans 1. Compute cost of goods...
materials. (Record deb i Data Table $ Raw Materials Inventory, beginning balance Purchases of canvas, on...
materials. (Record deb i Data Table $ Raw Materials Inventory, beginning balance Purchases of canvas, on account Purchases of sewing machine lubricating oil, on account Material requisitions: Canvas Sewing machine lubricating oil 34,000 68,000 1,100 64,000 500 Print Done account and determine the ending balance in Raw Materials Inventory. ut fields and then continue to the next question. This Question: 1 pt 14 of 15 (0 complete) Pack 'n Go manufactures backpacks. Its plant records include the following materials-related data...
Homework: Chapter 6 Homework Save 3 of 8 (3 complete) HW Score: 22.86%, 4.57 of 20...
Homework: Chapter 6 Homework Save 3 of 8 (3 complete) HW Score: 22.86%, 4.57 of 20 pts COL Score: 0.57 of 2 pts %E6-16A (book/static) Question Help Griffin Company's inventory records for its retail division show the following at December 31: (Click the icon to view the accounting records.) At December 31, 11 of these units are on hand. fork Read the woments Test Requirement 1. Journalize for Griffin total December purchases in one summary entry, under the perpetual system....
Juuditze uie clues ICldunny Minun ru Begin by journalizing the entry for the purchase of materials...
Juuditze uie clues ICldunny Minun ru Begin by journalizing the entry for the purchase of materials on account Date Accounts Debit Accounts Payable Accounts Receivable Cash Cost of Goods Sold Finished Goods Inventory Manufacturing Overhead Raw Materials Inventory Sales Revenue Wages Payable Work-in-Process Inventory Choose from any list or enter any number in the input fields and then click Check Answer Uute TUDIC 49,000 40,600 Purchases of materials, on account Materials requisitions: Direct materials Indirect materials Labor incurred (not yet...
On February 1, 2019, Jurgen Company purchased inventory costing $92,000 by signing a 6 %, nine-month,...
On February 1, 2019, Jurgen Company purchased inventory costing $92,000 by signing a 6 %, nine-month, short-term note payable. Jurgen will pay the entire note (principal and interest) on the note's maturity date. Journalize the company's (a) purchase of inventory; and (b) accrual of interest on the note payable on August 31, 2019. (Record debits first, then credits. Exclude explanations from any journal entries.) (a) Journalize the company's purchase of inventory. Journal Entry Accounts Date Debit Credit 2019 Inventory 92,000...
Dec. 1 Beginning merchandise inventory 13 units @ $9 each 8 Sale 8 units @ $22...
Dec. 1
Beginning merchandise inventory
13
units @
$9
each
8
Sale
8
units @
$22
each
14
Purchase
16
units @
$14
each
21
Sale
14
units @
$22
each
Assume that Toys Galore store bought and sold a line of dolls during December as follows: (Click the icon to view the transactions.) Toys Galore uses the perpetual inventory system. Read the requirements. Unce all of tne transactions nave peen entered into the perpetual record, calculate the quantity and...
are on hand. A Data Table of goods sold of units sold ar cost, then (c)...
are on hand. A Data Table of goods sold of units sold ar cost, then (c) hiding inventory using (a) specific Round all final answers to the nearest Oct 1 Beginning inventory.... 10 units @ $ 15 Purchase 5 units @ 26 Purchase ............ 14 units @ 160 = $ 1,600 161 = $ 805 170 = $ 2,380 Print Done t fields and then click Check Answer. Clear All Check Answer o Bts e Ô . 9 record accouri...
Score: 0 of 1 pt 8 of 13 (7 complete) HW Score: 46.73%, 7.48 of 16...
Score: 0 of 1 pt 8 of 13 (7 complete) HW Score: 46.73%, 7.48 of 16 S3-12 (book/static) RitePacks manufactures backpacks. Its plant records include the following materials-related transactions EEB (Click the icon to view the transactions.) Make the journal entries to record these transactions. Post these transactions to the Raw Materials Inventory account. If the company had S37,000 of Raw Materials Question Help Inventory at the beginning of the period, what is the ending balance of Raw Materials Inventory?...
Requirements or Big Fis ations fro Journalize the following for Big Fish Company under the perpetual system: 1. Total August purchases in one summary entry. All purchases were on credit. 2. Total August sales and cost of goods sold in two summary entries. The selling price was $625 per unit, and all sales were on credit. Assume that Big Fish uses the FIFO inventory method. 3. Under FIFO, how much gross profit would Big Fish earn on for the month...
Wiose mu ments. em Journalize for Big Fis were on credit. Assu cording the entry for A Journalize the following for Big Fish Company under the perpetual system: 1. Total August purchases in one summary entry. All purchases were on credit. 2. Total August sales and cost of goods sold in two summary entries. The selling price was $625 per unit, and all sales were on credit. Assume that Big Fish uses the FIFO inventory method. 3. Under FIFO, how...
f goods sold units sold ar ost, then (c) hding Rour Jul 1 Beginning inventory..... 15 Purchase 26 Purchase 9 units @ $ 5 units @ 13 units @ 165 = $ 1,485 166 = $ 830 175 = $ 2,275 Print Done Fields and then click Check Answer. Clear All A P CUEU L UCU U Triar ELETTRICITICIARELUUTISTE pute cost of goo number of units ) average cost, the ventory using all final ans 1. Compute cost of goods...
materials. (Record deb i Data Table $ Raw Materials Inventory, beginning balance Purchases of canvas, on account Purchases of sewing machine lubricating oil, on account Material requisitions: Canvas Sewing machine lubricating oil 34,000 68,000 1,100 64,000 500 Print Done account and determine the ending balance in Raw Materials Inventory. ut fields and then continue to the next question. This Question: 1 pt 14 of 15 (0 complete) Pack 'n Go manufactures backpacks. Its plant records include the following materials-related data...
Homework: Chapter 6 Homework Save 3 of 8 (3 complete) HW Score: 22.86%, 4.57 of 20 pts COL Score: 0.57 of 2 pts %E6-16A (book/static) Question Help Griffin Company's inventory records for its retail division show the following at December 31: (Click the icon to view the accounting records.) At December 31, 11 of these units are on hand. fork Read the woments Test Requirement 1. Journalize for Griffin total December purchases in one summary entry, under the perpetual system....
Juuditze uie clues ICldunny Minun ru Begin by journalizing the entry for the purchase of materials on account Date Accounts Debit Accounts Payable Accounts Receivable Cash Cost of Goods Sold Finished Goods Inventory Manufacturing Overhead Raw Materials Inventory Sales Revenue Wages Payable Work-in-Process Inventory Choose from any list or enter any number in the input fields and then click Check Answer Uute TUDIC 49,000 40,600 Purchases of materials, on account Materials requisitions: Direct materials Indirect materials Labor incurred (not yet...
On February 1, 2019, Jurgen Company purchased inventory costing $92,000 by signing a 6 %, nine-month, short-term note payable. Jurgen will pay the entire note (principal and interest) on the note's maturity date. Journalize the company's (a) purchase of inventory; and (b) accrual of interest on the note payable on August 31, 2019. (Record debits first, then credits. Exclude explanations from any journal entries.) (a) Journalize the company's purchase of inventory. Journal Entry Accounts Date Debit Credit 2019 Inventory 92,000...
Dec. 1
Beginning merchandise inventory
13
units @
$9
each
8
Sale
8
units @
$22
each
14
Purchase
16
units @
$14
each
21
Sale
14
units @
$22
each
Assume that Toys Galore store bought and sold a line of dolls during December as follows: (Click the icon to view the transactions.) Toys Galore uses the perpetual inventory system. Read the requirements. Unce all of tne transactions nave peen entered into the perpetual record, calculate the quantity and...
are on hand. A Data Table of goods sold of units sold ar cost, then (c) hiding inventory using (a) specific Round all final answers to the nearest Oct 1 Beginning inventory.... 10 units @ $ 15 Purchase 5 units @ 26 Purchase ............ 14 units @ 160 = $ 1,600 161 = $ 805 170 = $ 2,380 Print Done t fields and then click Check Answer. Clear All Check Answer o Bts e Ô . 9 record accouri...
Score: 0 of 1 pt 8 of 13 (7 complete) HW Score: 46.73%, 7.48 of 16 S3-12 (book/static) RitePacks manufactures backpacks. Its plant records include the following materials-related transactions EEB (Click the icon to view the transactions.) Make the journal entries to record these transactions. Post these transactions to the Raw Materials Inventory account. If the company had S37,000 of Raw Materials Question Help Inventory at the beginning of the period, what is the ending balance of Raw Materials Inventory?...
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