A portion of the work sheet of Sadie's Flowers for the year ended December 31 is as follows: (image below)Required:1. Determine the entries that appeared in the Adjustments columns and present them in general journal form on page 41. 2. Determine the net income for the year.3. What is the amount ending capital? ....PROBLEM 11-3A A portion of the work sheet of Sadie's Flowers for theDecember 31 is as follows:yearendedGH.AINCOME STATEMENTCREDITBALANCE SHEETCREDITDEBITDEBIT6.CashMerchandise InventorySupplies10ACCOUNT NAME9,340.0076,940.00256.0089Prepaid Insurance11240.0039,280.00Store Equipment12Accumulated Depreciation, Store EquipmentAccounts PayableS. R. Rodriguez, Capital1526,220.0014,600.0068,940.00131427,600.00S. R. Rodriguez, DrawingSales173,420.00161,520.0082,312.0017Sales Returns and Allowances18Purchases940.0019Purchases Returns and Allowances20Purchases Discounts1,600.001,948.0037,560.0014,800.0021Freight In22Salary Expense23Rent Expense2476,940.00Income SummaryDepreciation Expense, Store EquipmentInsurance ExpenseSupplies ExpenseSalaries Payable65,680.004,040.00760.00252627944.0028560.002930209,564.00252,900.00153,656.00110,320.0031Sheet1Sheet2 Sheet3Required1. Determine the entries that appeared in the Adjustments columns and present themin general journal form on page 41.2. Determine the net income for the year.3. What is the amount of the ending capital?Check FIncrease45

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A portion of the work sheet of Sadie's Flowers for the year ended December 31 is as follows: (image below) Required: 1. Determine the entries that appeared in the Adjustments columns and present them in general journal form on page 41. 2. Determine the net income for the year. 3. What is the amount ending capital

A portion of the work sheet of Sadie's Flowers for the year ended December 31 is as follows: (image below) Required: 1. Determine the entries that appeared in the Adjustments columns and present them in general journal form on page 41. 2. Determine the net income for the year. 3. What is the amount ending capital

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter6: Receivables And Inventories

Section: Chapter Questions

Problem 6.2MBA: Allowance method Using transactions listed in £6-S. indicate the effects of each transaction on the...

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Allowance method Using transactions listed in £6-S. indicate the effects of each transaction on the liquidity metric days’ sales in receivables and profiability metric return on sales.
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7. Use the following excerpts from Jasper Company’s financial statements and complete the worksheets below to determine cash paid to suppliers for inventory in 2018. From Balance Sheets: Dec. 31, 2018 Dec.31, 2017 Inventory $35,000 $31,000 From Income Statement: 2018 Cost of Goods Sold 175,900 PLEASE NOTE: You are to follow the format shown in the textbook. Step01: Inventory Purchased ["", "", "", "", ""] ["", "", "", "", ""] ["", "", "", "", ""] ["", "", "", "", ""] ["", "", "", "", ""] ["", "", "", "", ""] ["", "", "", "", ""] ["", "", "", "", ""] ["", "", "", "", ""] ["", "", "", "", ""] Step02: Cash paid for Inventory Purchases ["", "", "", "", ""] ["", "", "", "", ""] ["", "", "", "", ""] ["", "", "", "", ""]…
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