Speedo Paint company completed the following selected transactinos
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During August the Paver Paint Company completed 87,350 cans of paint. At the beginning of August,...
During August the Paver Paint Company completed 87,350 cans of paint. At the beginning of August, the company had 805 units that were 80 percent complete with respect to material and 50 percent complete with respect to conversion costs. During the month, the company started production of 92,440 units. How many units were in Work in Process at the end of August?
You Can Paint Too completed the following production cost re ducts. You Can Paint Too has...
You Can Paint Too completed the following production cost re ducts. You Can Paint Too has two departments: Blending and ng of the blending procese ldveel and at the end of the packaging lending Departmer 0 Data Table - ach process. ment. Also, pr ny journal ent the assignment of martment. Assume la assignment of direct 0 gallons 9,000 gallons 4,000 gallons 5,000 gallons Gallons Beginning Work-in-Process Inventory Started in production Completed and transferred out to Packaging in May Ending...
The following were selected from among the transactions completed by Babcock Company during November of the...
The following were selected from among the transactions completed by Babcock Company during November of the current year. Babcock uses the net method under a perpetual inventory system. Nov. 3 Purchased merchandise on account from Moonlight Co., list price $89,000, trade discount 30%, terms FOB destination, 2/10, n/30. 4 Sold merchandise for cash, $38,210. The cost of the goods sold was $20,810. 5 Purchased merchandise on account from Papoose Creek Co., $51,550, terms FOB shipping point, 2/10, n/30, with prepaid...
The following were selected from among the transactions completed by Babcock Company during November of the...
The following were selected from among the
transactions completed by Babcock Company during November of the
current year. Babcock uses the net method under a perpetual
inventory system.
Nov. 3 Purchased merchandise on account from Moonlight
Co., list price $85,000, trade discount 25%, terms FOB destination,
2/10, n/30.
4 Sold merchandise for cash, $37,680. The cost of goods sold was
$22,600
5 Purchased merchandise on account from Papoose Creek Co., $47,500,
terms FOB shipping point, 2/10, n/30, with prepaid freight...
The following were selected from among the transactions completed by Theisen Company during December of the...
The following were selected from among the transactions completed by Theisen Company during December of the current year: Dec. 3. Purchased merchandise on account from Shipley Co., list price $480,000, trade discount 25%, terms FOB shipping point, 2/10, n/30, with prepaid transportation costs of $122,500 added to the invoice. 5. Purchased merchandise on account from Kirch Co., $100,250, terms FOB destination, 2/10, n/30. 6. Sold merchandise on account to Murdock Co., list price $360,000, trade discount 35%, terms 2/10, n/30....
Instructions The following selected transactions were completed by Air Systems Company during January of the current...
Instructions The following selected transactions were completed by Air Systems Company during January of the current year. Air Systems Company uses the periodic inventory system. Purchased $18,700 of merchandise on account, FOB shipping Jan. 2 point, terms 2/15, n/30. Paid freight of $240 on the January 2 purchase. 5 Returned $2,400 of the merchagdise purchased on January 2 6 Sold merchandise on account, $34,100, FOB destination, 1/10, 13 n/30. The cost of merchandise sold was $22,200. Paid freight of $245...
help with journalizing The following were selected from among the transactions completed by Babcock Company during...
help with journalizing
The following were selected from among the transactions completed by Babcock Company during November of the current year Nov. 3 4 5 6 Purchased merchandise on account from Moonlight Co., list price $94,000, trade discount 25%, terms FOB destination, 2/10, n/30 Sold merchandise for cash, $37,230. The cost of the goods sold was $22,500 Purchased merchandise on account from Papoose Creek Co., $48,450, terms FOB shipping point 2/10, 1/30, with prepaid freight of $800 added to the...
The following selected transactions were completed by Capers Company during October of the current year: Oct....
The following selected transactions were completed by Capers Company during October of the current year: Oct. 1 Purchased merchandise from UK Imports Co., $13,377, terms FOB destination, n/30. 3 Purchased merchandise from Hoagie Co., $10,650, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $230 was added to the invoice. 4 Purchased merchandise from Taco Co., $14,350, terms FOB destination, 2/10, n/30. 6 Issued debit memo to Taco Co. for $5,000 of merchandise returned from purchase on October 4. 13...
The following selected transactions were completed by Betz Company during July of the current year. Betz...
The following selected
transactions were completed by Betz Company during July of the
current year. Betz Company uses the net method under a perpetual
inventory system.
July
1
Purchased merchandise from Sabol Imports Co., $13,701, terms
FOB destination, n/30.
3
Purchased merchandise from Saxon Co., $8,950, terms FOB
shipping point, 2/10, n/eom. Prepaid freight of $225 was added to
the invoice.
5
Purchased merchandise from Schnee Co., $13,450, terms FOB
destination, 2/10, n/30.
6
Issued debit memo to Schnee Co....
8. Daniels Company is owned and operated by Thomas Daniels. The following selected transactions were completed...
8. Daniels Company is owned and operated by Thomas Daniels. The following selected transactions were completed by Daniels Company during May: 11. Received cash from owner as additional investment $55,000. 2. Paid creditors on account $7,000. |3. Billed customers for services on account, $2,565. 4. Received cash from customers on accounts $8,450. 5. Paid cash to owner for personal use, $2,500. 16. Received the utility bill $160, to be paid next month. g . Indicate the effect of each transaction...
During August the Paver Paint Company completed 87,350 cans of paint. At the beginning of August, the company had 805 units that were 80 percent complete with respect to material and 50 percent complete with respect to conversion costs. During the month, the company started production of 92,440 units. How many units were in Work in Process at the end of August?
You Can Paint Too completed the following production cost re ducts. You Can Paint Too has two departments: Blending and ng of the blending procese ldveel and at the end of the packaging lending Departmer 0 Data Table - ach process. ment. Also, pr ny journal ent the assignment of martment. Assume la assignment of direct 0 gallons 9,000 gallons 4,000 gallons 5,000 gallons Gallons Beginning Work-in-Process Inventory Started in production Completed and transferred out to Packaging in May Ending...
The following were selected from among the
transactions completed by Babcock Company during November of the
current year. Babcock uses the net method under a perpetual
inventory system.
Nov. 3 Purchased merchandise on account from Moonlight
Co., list price $85,000, trade discount 25%, terms FOB destination,
2/10, n/30.
4 Sold merchandise for cash, $37,680. The cost of goods sold was
$22,600
5 Purchased merchandise on account from Papoose Creek Co., $47,500,
terms FOB shipping point, 2/10, n/30, with prepaid freight...
Instructions The following selected transactions were completed by Air Systems Company during January of the current year. Air Systems Company uses the periodic inventory system. Purchased $18,700 of merchandise on account, FOB shipping Jan. 2 point, terms 2/15, n/30. Paid freight of $240 on the January 2 purchase. 5 Returned $2,400 of the merchagdise purchased on January 2 6 Sold merchandise on account, $34,100, FOB destination, 1/10, 13 n/30. The cost of merchandise sold was $22,200. Paid freight of $245...
help with journalizing
The following were selected from among the transactions completed by Babcock Company during November of the current year Nov. 3 4 5 6 Purchased merchandise on account from Moonlight Co., list price $94,000, trade discount 25%, terms FOB destination, 2/10, n/30 Sold merchandise for cash, $37,230. The cost of the goods sold was $22,500 Purchased merchandise on account from Papoose Creek Co., $48,450, terms FOB shipping point 2/10, 1/30, with prepaid freight of $800 added to the...
The following selected
transactions were completed by Betz Company during July of the
current year. Betz Company uses the net method under a perpetual
inventory system.
July
1
Purchased merchandise from Sabol Imports Co., $13,701, terms
FOB destination, n/30.
3
Purchased merchandise from Saxon Co., $8,950, terms FOB
shipping point, 2/10, n/eom. Prepaid freight of $225 was added to
the invoice.
5
Purchased merchandise from Schnee Co., $13,450, terms FOB
destination, 2/10, n/30.
6
Issued debit memo to Schnee Co....
8. Daniels Company is owned and operated by Thomas Daniels. The following selected transactions were completed by Daniels Company during May: 11. Received cash from owner as additional investment $55,000. 2. Paid creditors on account $7,000. |3. Billed customers for services on account, $2,565. 4. Received cash from customers on accounts $8,450. 5. Paid cash to owner for personal use, $2,500. 16. Received the utility bill $160, to be paid next month. g . Indicate the effect of each transaction...
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