Hull Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 (balance on hand) 4 11 18 26 100 400 200 @ $5.00 300 @ 5.30 5.35 600 5.10 5.60 Sales April 5 12 300 28 200 27 800 150
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- Bonita Company's record of transactions for the month of April was as follows. April 1 (balance on hand) (a1) 4 8 13 21 Purchases 29 Average-cost per unit 780 @ $5.90 $ 1,950 @ 6.00 1,040 @ 6.30 1,560 @ 910 @ 6.50 650 @ 6.40 6,890 6.70 April 3 Search 9 11 23 27 Sales per unit 650 @ $10.00 1,820 @ 780 @ 1,560 @ 1,170 @ 5,980 Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) 10.00 CO 11.00 11.00 12.00 DELL 9John Adams Company's record of transactions for the month of April was as follows. April 1 (balance on hand) 8 13 21 29 (a1) Purchases 600 @ $6.00 6.08 800 @ 6.40 6.50 Average-cost per unit 1,500 @ 1.200 @ 700 @ 500 @ 5,300 6.60 6.79 April 3 per unit 9 11 23 27 Sales 500 @ $10.00 1,400 10.00 600 @ 11.00 11.00 1,200 @ 900 @ 4,600 Assuming that periodic inventory records are kept in units only calculate the average-cost per unit. (Round answer to 2 decimal places, eg 2.76) 12.00ANALYSIS OF ACTIVITY MEASURES Based on the financial statement data in Exercise 24-1B, compute the following activity measures for 20-2 (round all calculations to two decimal places): (a) Accounts receivable turnover (b) Merchandise inventory turnover (c) Asset turnover
- Sold goods for $650, credit terms net 30 days. Which journal would the company use to record this transaction? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journal2.14) Find the average daily balance (new purchases included) Payment End of Day Balance Dates 3/1-3/10 3/11 3/12-3/21 3/22 3/23-3/30 Average → $165.00 Purchase $72.00 X Number of Days $215.00 x $287.00 x $287.00 x $122.00 x $122.00 x Total → 10 1 10 1 8 30 Sum of Balances $2,150.00 $287.00 $2,870.00 $122.00 $976.00Oriole Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 (balance on hand) 11 18 20 30 390 @ 690 @ 590 @ 490 @ 890 @ 490 $7.00 7.10 7.40 7.50 7.80 8.10 Sales April 5 12 27 28 590 490 1,380 150
- 14. Find the average daily balance (new purchases included). Dates Payment # of days Sum of Balances Purchase End-of-Day Balance 2/1-2/5 $600 X 5 2/6 $221.00 821.00 2/7-2/14 821.00 8 2/15 $725.00 98.00 1 2/16-2/28 96.00 X 13 TOTAL AVERAGE DAILY BALANCE %24 x ×MYD company’s record of transactions concerning part VF5 for the month of September was as follow (dalam Rp. 000.000) : Purchases Sales Sept 1 Balance on hand 600@Rp. 6 Sept 3 500@Rp. 10 Sept 4 1.500@Rp. 6.08 Sept 9 1.300@Rp. 10 Sept 8 800@Rp. 6.4 Sept 11 600@Rp. 11 Sept 13 1.200@Rp. 6.5 Sept 23 1.200@Rp. 11 Sept 21 700@Rp. 6.6 Sept 27 900@Rp. 12 Sept 29 500@Rp. 6.79 Instruction: Assuming that periodic inventory records are kept, compute the inventory at Sept 30 using: (i) First-in, First-out (FIFO) (ii) Average-cost Assuming that perpetual inventory records are kept, compute the inventory at Sept 30 using: (i) First-in, First-out (FIFO) (ii) Average-cost In an inflationary record, which inventory method will show the highest net income?The following are taken from the record of ABM Company for the year ended December 31, 20X2: DEBIT CREDIT |Sales Purchase Discount Purchase Returns and allowances Purchases Freight-in P764,985 8,200 5,465 459,990 9,180 13,300 5,455 25,000 Sales discount Sales returns and allowances Depreciation Expense Amortization expense Salaries Expense Utilities Expense Advertising Expense Rent Expense Interest Income Interest Expense Gain on sale of PPE Bad Debts Expense 10,000 80,000 55,000 35,000 60,000 5,444 5,677 5,465 ??? • Based on actual physical count, inventory balance are as follows: January 1, 20X2 December 31, 20X2 P25,455 P20,765 Bad debts expenso is 4% of net sales. Classify the bad debt expense as general and administrative expense. Determine the following by preparing a multi-step form of SCI. a. Net Sales b. Net Purchases c. Cost of goods sold d. Bad debts expense e. Gross Profit. f. Total Expenses g. Net Income/Loss
- Sheffield Company's record of transactions for the month of April was as follows. April 1 (balance on hand) 4 (a1) 8 13 21 (a2) 29 Average-cost per unit $ (b) ✓ Your answer is correct. eTextbook and Media Your Answer Purchases FIFO ✓ Your answer is correct. Average-cost $ eTextbook eTextbook and Medial Solution Correct Answer 1,260 $6.00 3,150 @ 6.08 1,680 @ 6.40 2,520 @ 1,470 @ 6.60 11.130 Inventory at April 30 Save for Later 1,050@ 6.79 Assuming that periodic inventory records are kept, calculate the average-cost per unit. (Round answer to 2 decimal places, eg. 2.76.) H Your answer is partially correct. $ eTextbook and Media 6.50 9902 9334 April 3 9 11 (1) FIFO 23 Assuming that periodic inventory records are kept, compute the inventory at April 30 using (1) FIFO and (2) average-cost. (Round answer to O decimal places, e.g. 2,760.) 27 6.35 per unit 9902 Sales 1,050 $10.00 2,940 @ 1,260 @ $ 2,520 @ 1,890 @ | | 9.660 10.00 11.00 11.00 Assuming that perpetual inventory records are kept…Oriole Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 (balance on hand) 4 11 18 26 30 390 690 590 490 890 490 Ⓡ $7.00 April 5 7.10 7.40 7.50 7.80 Sales 8.10 12 27 28 590 490 1,380 150Windsor Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 (balance on hand) 11 18 26 30 270 @ $5.80 570 @ 5.90 470 370 6.10 6.20 6.50 370 @ 6.70 770 @ Sales April 5 12 370 27 1,140 150 470 28