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PRACTICE PROBLEM - PERIODIC Adjustment Data: For the Year Ended December 31, 2014 1) A physical merchandise inventory t...
PR 6-10A Periodic Inventory Accounts, Multiple-Step Income Statement, Closing Entries the Journalize the periodic inventory system...
PR 6-10A Periodic Inventory Accounts, Multiple-Step Income
Statement, Closing Entries
the Journalize the periodic inventory system Appendix PR 6-9A Sales-related and purchase-related transactions for buyer and seller using periodic inventory system Selected transactions during August between Summit Company and Beartooth Co. are listed in Problem 64A. Instructions Journalize the entries to record the transactions for (1) Summit Company and (2) Beartooth Co., assuming that both companies use the periodic inventory system. Appendix PR 6-10A Periodic inventory accounts, multiple-step income statement,...
Solev this problem by using periodic format TRITON DEPARTMENT STORE Adjusted Trial Balance December 31, 2018...
Solev this problem by using periodic format
TRITON DEPARTMENT STORE Adjusted Trial Balance December 31, 2018 $ Account Title Cash Accounts Receivable Merchandise Inventory (beginning) Office Supplies Furniture Accumulated Depreciation Furniture Accounts Payable Salaries Payable Unearned Revenue Notes Payable, long-term Common Stock Retained Earnings Balance Debit Credit 8,200 84,600 37,800 850 86,000 $ 18,500 29,400 2,300 14,900 36,000 60,000 22,850 88,600 374,000 295,000 Dividends Sales Revenue Purchases Purchase Returns and Allowances Purchase Discounts Freight in Selling Expense Administrative Expense Interest...
Information from the December 31, 2020, year-end unadjusted trial balance of Woodstock Store is as follows:...
Information from the December 31, 2020, year-end unadjusted trial balance of Woodstock Store is as follows: Debit Credit Cash $ 3,590 Merchandise inventory 31,490 Store supplies 1,805 Office supplies 735 Prepaid insurance 4,050 Store equipment 57,705 Accumulated depreciation, store equipment $ 6,840 Office equipment 13,190 Accumulated depreciation, office equipment 6,640 Accounts payable 4,090 Zen Woodstock, capital 52,090 Zen Woodstock, withdrawals 31,590 Rental revenue 14,690 Sales 501,610 Sales returns and allowances 3,005 Sales discounts 5,280 Purchases 330,595 Purchase returns and allowances...
Valley Company’s adjusted trial balance on August 31, 2016, its fiscal year-end, follows. Debit Credit Merchandise...
Valley Company’s adjusted trial balance on August 31, 2016, its fiscal year-end, follows. Debit Credit Merchandise inventory $ 38,000 Other (noninventory) assets 152,000 Total liabilities $ 43,890 Common stock 51,152 Retained earnings 74,433 Dividends 8,000 Sales 259,920 Sales discounts 3,977 Sales returns and allowances 17,155 Cost of goods sold 100,577 Sales salaries expense 35,609 Rent expense—Selling space 12,216 Store supplies expense 3,119 Advertising expense 22,093 Office salaries expense 32,490 Rent expense—Office space 3,119 Office supplies expense 1,040 Totals $ 429,395...
E S TETSSIBILITIES 14 XYZ Products, Selected Accounts from the Adjusted Trial Balance dated December 31,...
E S TETSSIBILITIES 14 XYZ Products, Selected Accounts from the Adjusted Trial Balance dated December 31, 2018 Sales 426,000 426,000 Sales returns 13.00 13,000 stion Inventory 28,902 Purchase discounts 2,370 Purchase returns 5,000 Transportation In 2,346 Josh Anderson, (Proprietor) 2,800 CR Sales discounts. 7,000 Depreciation expense 10,000 Purchase allowances 4,000 Sales allowances 6,000 Purchases 246,000 Purchases 246,000 Property tax expense 14,625 Store supplies expense 3,814 Wages expense 62,375 REQUIRED (NOTE THAT ALL ACCOUNTS HAVE THEIR NORMAL DEBIT OR CREDIT BALANCES):...
The following amounts appeared on Plymouth Electronics’ adjusted trial balance as of December 31, 2020. Debit...
The following amounts appeared on Plymouth Electronics’ adjusted trial balance as of December 31, 2020. Debit Credit Merchandise inventory $ 18,900 Other assets 481,785 Liabilities $ 306,370 Celine Plymouth, capital 243,975 Celine Plymouth, withdrawals 66,400 Sales 936,000 Sales discounts 13,980 Sales returns and allowances 5,115 Interest income 660 Cost of goods sold 716,000 Sales salaries expense 78,600 Office salaries expense 55,900 Rent expense, selling space 32,400 Rent expense, office space 2,400 Store supplies expense 1,560 Office supplies expense 705...
1) a) Merchandise Inventory. 10/31/2017 b) Accrued interest on Notes Receivable c) Unexpired Store Rent d)...
1) a) Merchandise Inventory. 10/31/2017 b) Accrued interest on Notes Receivable c) Unexpired Store Rent d) Depreciation on Equipment e) Accrued interest on Notes Payable f) Accrued Office Salaries g) Store Supplies on hand h) Bad debts is based on the aging of Accounts Receivable i) Expired Insurance 1 219,000 1.500 8,200 10,000 2,500 6.100 11.000 16,500 7,800 2) Prepare a Multi-Step Income Statement for the year ended October 31, 2017 OR 3) Prepare a Classified Balance Sheet as of...
Cold Cllmate Unadjusted Trial Balance December 31 Debit Account Credit Cash $95,000 Accounts Receivable 171,000 129,950...
Cold Cllmate Unadjusted Trial Balance December 31 Debit Account Credit Cash $95,000 Accounts Receivable 171,000 129,950 Inventory Store Supplies Office Supplies Accum Depreciation -Store Fixtures 2,600 2,050 1,300 Accum Depreciation- Office Furniture Accounts Payable Retained Earnings 4,230 83,000 297,670 Sales 943,755 Sales Discounts 9,500 Sales Returns and Allowances 18,500 Cost of Goods Sold 527,215 Rent Expense- Office Rent Expense - Selling Sales Salary Expense 22,900 6,000 191,000 146,000 Office Salary Expense Delivery Expense Depreciation Expense- Store Fixtures Depreciation Expense- Office...
Valley Company's adjusted trial balance on August 31, its fiscal year-end, follows. It categorizes the following...
Valley Company's adjusted trial balance on August 31, its fiscal year-end, follows. It categorizes the following accounts as selling expenses: sales salaries expense, rent expense selling space, store supplies expense, advertising expense. It categorizes the remaining expenses as general and administrative, Credit Debit $41,000 130,400 $ 25,000 104,550 8.000 225,600 Merchandise inventory (ending) Other (noninventory) assets Total liabilities K. Valley, Capital K. Valley, Withdrawals Sales Sales discounts Sales returns and allowances Cost of goods sold Sales salaries expense Rent expense Selling...
Valley Company’s adjusted trial balance on August 31, its fiscal year-end, follows. It categorizes the following...
Valley Company’s adjusted trial balance on August 31, its fiscal year-end, follows. It categorizes the following accounts as selling expenses: sales salaries expense, rent expense—selling space, store supplies expense, advertising expense. It categorizes the remaining expenses as general and administrative. Debit Credit Merchandise inventory (ending) $ 33,000 Other (noninventory) assets 132,000 Total liabilities $ 38,115 K. Valley, Capital 110,629 K. Valley, Withdrawals 8,000 Sales 225,720 Sales discounts 3,454 Sales returns and allowances 14,898 Cost of goods sold 87,857 Sales salaries...
PR 6-10A Periodic Inventory Accounts, Multiple-Step Income
Statement, Closing Entries
the Journalize the periodic inventory system Appendix PR 6-9A Sales-related and purchase-related transactions for buyer and seller using periodic inventory system Selected transactions during August between Summit Company and Beartooth Co. are listed in Problem 64A. Instructions Journalize the entries to record the transactions for (1) Summit Company and (2) Beartooth Co., assuming that both companies use the periodic inventory system. Appendix PR 6-10A Periodic inventory accounts, multiple-step income statement,...
Solev this problem by using periodic format
TRITON DEPARTMENT STORE Adjusted Trial Balance December 31, 2018 $ Account Title Cash Accounts Receivable Merchandise Inventory (beginning) Office Supplies Furniture Accumulated Depreciation Furniture Accounts Payable Salaries Payable Unearned Revenue Notes Payable, long-term Common Stock Retained Earnings Balance Debit Credit 8,200 84,600 37,800 850 86,000 $ 18,500 29,400 2,300 14,900 36,000 60,000 22,850 88,600 374,000 295,000 Dividends Sales Revenue Purchases Purchase Returns and Allowances Purchase Discounts Freight in Selling Expense Administrative Expense Interest...
E S TETSSIBILITIES 14 XYZ Products, Selected Accounts from the Adjusted Trial Balance dated December 31, 2018 Sales 426,000 426,000 Sales returns 13.00 13,000 stion Inventory 28,902 Purchase discounts 2,370 Purchase returns 5,000 Transportation In 2,346 Josh Anderson, (Proprietor) 2,800 CR Sales discounts. 7,000 Depreciation expense 10,000 Purchase allowances 4,000 Sales allowances 6,000 Purchases 246,000 Purchases 246,000 Property tax expense 14,625 Store supplies expense 3,814 Wages expense 62,375 REQUIRED (NOTE THAT ALL ACCOUNTS HAVE THEIR NORMAL DEBIT OR CREDIT BALANCES):...
1) a) Merchandise Inventory. 10/31/2017 b) Accrued interest on Notes Receivable c) Unexpired Store Rent d) Depreciation on Equipment e) Accrued interest on Notes Payable f) Accrued Office Salaries g) Store Supplies on hand h) Bad debts is based on the aging of Accounts Receivable i) Expired Insurance 1 219,000 1.500 8,200 10,000 2,500 6.100 11.000 16,500 7,800 2) Prepare a Multi-Step Income Statement for the year ended October 31, 2017 OR 3) Prepare a Classified Balance Sheet as of...
Cold Cllmate Unadjusted Trial Balance December 31 Debit Account Credit Cash $95,000 Accounts Receivable 171,000 129,950 Inventory Store Supplies Office Supplies Accum Depreciation -Store Fixtures 2,600 2,050 1,300 Accum Depreciation- Office Furniture Accounts Payable Retained Earnings 4,230 83,000 297,670 Sales 943,755 Sales Discounts 9,500 Sales Returns and Allowances 18,500 Cost of Goods Sold 527,215 Rent Expense- Office Rent Expense - Selling Sales Salary Expense 22,900 6,000 191,000 146,000 Office Salary Expense Delivery Expense Depreciation Expense- Store Fixtures Depreciation Expense- Office...
Valley Company's adjusted trial balance on August 31, its fiscal year-end, follows. It categorizes the following accounts as selling expenses: sales salaries expense, rent expense selling space, store supplies expense, advertising expense. It categorizes the remaining expenses as general and administrative, Credit Debit $41,000 130,400 $ 25,000 104,550 8.000 225,600 Merchandise inventory (ending) Other (noninventory) assets Total liabilities K. Valley, Capital K. Valley, Withdrawals Sales Sales discounts Sales returns and allowances Cost of goods sold Sales salaries expense Rent expense Selling...
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