Ans: Journal Entry
Date | Account title and explanation | Debit($) | Credit($) |
Jan 4 | Accounts Receivable | 632 | |
Sales Revenue{79*8} | 632 | ||
{ to record Cost of Goods Sold} | |||
Jan 11 | Purchases {145*6} | 870 | |
Accounts payable | 870 | ||
{ to record the purchase} | |||
Jan 13 | Accounts Receivable | 1,035 | |
Sales Revenue{115*9} | 1,035 | ||
{ to record the cost of Goods Sold} | |||
Jan 20 | Purchases{162*6} | 972 | |
Accounts payable | 972 | ||
{ to record the purchase} | |||
Jan 27 | Accounts receivable | 1,070 | |
Sales Revenue{107*10} | 1,070 | ||
{ to record the cost of Goods Sold} | |||
Marigold Company sells one product. Presented below is information for January for Marigold Company. Jan. 1...
Coronado Company sells one product. Presented below is information for January for Coronado Company. Jan. 1 Inventory 104 units at $5 each 4 Sale 79 units at $8 each 11 Purchase 145 units at $6 each 13 Sale 115 units at $9 each 20 Purchase 162 units at $6 each 27 Sale 107 units at $10 each Coronado uses the FIFO cost flow assumption. All purchases and sales are on account. (a) Assume Coronado uses a periodic system. Prepare all...
Splish Company sells one product. Presented below is information for January for Splish Company. Jan. 1 Inventory 124 units at $4 each 4 Sale 100 units at $8 each 11 Purchase 162 units at $7 each 13 Sale 134 units at $9 each 20 Purchase 151 units at $7 each 27 Sale 96 units at $11 each Splish uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Splish uses a periodic system. Prepare all necessary...
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 $7 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 system. Prepare all necessary...
Oriole Company sells one product. Presented below is information for January for Oriole Company Jan. 1 Inventory 4 Sale 11 Purchase 13 Sale 20 Purchase 27 Sale 120 units at $5 each 96 units at $8 each 141 units at $7 each 113 units at $9 each 160 units at $7 each 104 units at $11 each Oriole uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Oriole uses a periodic system. Prepare all necessary...
Mariaold Company sellsone product. Presented below armation for anary for Marigold Company Jan. 1 Inventory 4 Sale 11 Purchase 13 Sale 20 Purchase 27 Sale 104 units at $ cach 79 units Sexch 145 units at $é cach 115 units each 162 units at $ecach 107 units at $10 each Marigold uses the FIFO custow 3sumption. All purchases and sales are on account f goods sold physical count indicates that the ending inventory for anary is units. entry required, select...
Bramble Company sells one product. Presented below is information for January for Bramble Company. Jan. 1 4 11 Inventory Sale Purchase Sale Purchase Sale 114 units at $5 each 89 units at $8 each 156 units at $7 each 126 units at $9 each 158 units at $7 each 103 units at $11 each 13 20 27 Bramble uses the FIFO cost flow assumption. All purchases and sales are on account. (a) Your answer is correct. Assume Bramble uses a...
Novak Company sells one product. Presented below is information
for January for Novak Company.
Novak Company sells one product. Presented below is information for January for Novak Company. Jan. 1 4 11 13 20 27 Inventory Sale Purchase Sale Purchase Sale 125 units at $4 each 104 units at $8 each 158 units at $6 each 130 units at $9 each 149 units at $6 each 87 units at $11 each Novak uses the FIFO cost flow assumption. All purchases...
Pina Company sells one product. Presented below is information for January for Pina Company. Jan. 1 4 11 13 20 27 Inventory Sale Purchase Sale Purchase Sale 123 units at $5 each 98 units at $8 each 136 units at $6 each 103 units at $9 each 169 units at $7 each 108 units at $11 each Pina uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Pina uses a periodic system. Prepare all necessary...
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...
Exercise 8-09 Swifty Company sells one product. Presented below is information for January for Swifty Company. Jan. 1 4 11 13 20 27 Inventory Sale Purchase Sale Purchase Sale 103 units at $5 each 82 units at $8 each 82 units 135 units at $7 each 102 units at $9 each 167 units at $7 each 108 units at $11 each Swifty uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Swifty uses a periodic...