need help please SALE HY INSTRUCTOR ESCRINI ERI Brief Exercise 9-08 Bumble Company signed a long-term noncancelable...
Brief Exercise 9-08 Sunland Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2021 at a cost of $919,600. At December 31, 2020, the raw materials to be purchased have a market value of $869,100. In 2021, Sunland paid $919,600 to obtain the raw materials which were worth $869,100. Prepare the entry to record the purchase. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry...
signment TOP CHE INTER VERSION MACK NEXT Brief Exercise 9-08 Waterway Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2021 at a cost of $983,500. At December 31, 2020, the raw materials to be purchased have a market value of $929,100. In 2021. Waterww paid $93.500 to obtain the raw materials which were worth 5929,100. Prepare the entry to record the purchase. (Credit account ties are automatically indented when amount is entered....
Brief Exercise 9-8 Tamarisk Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2018 at a cost of $1,001,000. At December 31, 2017, the raw materials to be purchased have a market value of $955,300. In 2018, Tamarisk paid $1,001,000 to obtain the raw materials which were worth $955,300. Prepare the entry to record the purchase. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry...
Windsor Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2021 at a cost of $981,000. At December 31, 2021, the raw materials to be purchased have a market value of $932,500. Prepare any necessary December 31, 2021 entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Account Titles...
Brief Exercise 8-10 Sheffield Corp., a public company using IFRS, signed a long-term non-cancellable purchase commitment with a major supplier to purchase raw materials at an annual cost of $2,300,000. At December 31, 2019, the raw materials to be purchased in 2020 have a market price of $2,250,000. Prepare any December 31, 2019 entry that is needed. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry"...
0.6 Question 4 View Policies Show Attempt History Current Attempt in Progress . Your answer is partially correct. Kingbird Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2021 at a cost of $966,100. At December 31, 2020, the raw materials to be purchased have a market value of $921,000. In 2021, Kingbird paid $966,100 to obtain the raw materials which were worth $921,000. Prepare the entry to record the purchase. (Credit account...
Brief Exercise 8-10 Bridgeport Corp., a public company using IFRS, signed a long-term non-cancellable purchase commitment with a major supplier to purchase raw materials at an annual cost of $1,500,000. At December 31, 2019, the raw materials to be purchased in 2020 have a market price of $1,357,000. Prepare any December 31, 2019 entry that is needed. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry"...
Grouper Corp., a public company using IFRS, signed a long-term non-cancellable purchase commitment with a major supplier to purchase raw materials at an annual cost of $2,600,000. At December 31, 2019, the raw materials to be purchased in 2020 have a market price of $2,540,000. Prepare any December 31, 2019 entry that is needed. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account...
BE9.8 (LO 3) Use the information for Kemper Company from BE9.7. In 2021, Kemper paid $1,000,000 to obtain the raw materials which were worth $950,000. Prepare the entry to record the purchase BE9.7 (LO 3) Kemper Company signed a long- term noncancelable purchase commitment with a major supplier to purchase raw materials in 2021 at a cost of $1,000,000. At December 31, 2020, the raw materials to be purchased have a market value of $950,000. Prepare any necessary December 31,...
Flounder Company has been having difficulty obtaining key raw materials for its manufacturing process. The company therefore signed a long-term noncancelable purchase commitment with its largest supplier of this raw material on November 30, 2020, at an agreed price of $430,400. At December 31, 2020, the raw material had declined in price to $394,050. What entry would you make on December 31, 2020, to recognize these facts? (Credit account titles are automatically indented when amount is entered. Do not indent...