Use the following data to prepare card store by using Fifo method, Lifo method and av. cost : 1-1/6 The balance ( 30 ) unit in price ( 1000 )D. To unit. 2-2/7 Purchase ( 50 Junit in price (1100 )D. To unit . 3-7/8 Expend ( 40 Junit to the production. 4-11/9 purchase ( 35 Junit in price ( 1130 )D. To unit. 5-14/9 Expend ( 35 )unit to the production. 6-17/10 Purchase ( 25 ) unit in price (1135 )D. to unit.
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- EA10. LO 6.4Record the journal entries for the following sales transactions of Apache Industries. Nov. 7Sold 10 computers on credit for $870 per computer. Terms of the sale are 5/10, n/60, invoice dated November 7. The cost per computer to Apache is $560. Nov. 14The customer returned 2 computers for a full refund from Apache. Apache returns the computers to their inventory at full cost of $560 per computer. Nov. 21The customer paid their account in full from the November 7 sale.Parrish pg 37 Please solve for the missing amount in this T-Account. Explain in depth and show how you found the missing amound (method, formula etc) Inventory 4/1 Beginning Balance 40,000 4/15 Transaction B 5,000 Ending Balance UNKOWN CRs Transaction A 8,000 4/28 Transaction C 25,000PB3. LO 6.2Costume Warehouse sells costumes and accessories and purchases their merchandise from a manufacturer. Review the following transactions and prepare the journal entry or entries if Costume Warehouse uses the perpetual inventory system the periodic inventory system Jun. 4 Costume Warehouse purchases 88 costumes on credit at a purchase price of $15 per costume. The terms of the purchase are 5/15, n/30, with an invoice date of June 4. Jun. 12 Costume Warehouse returns 20 costumes to the manufacturer for a full refund. Jun. 19 Costume Warehouse pays in full for the remaining costumes, less the return.
- EB6. LO 7.3Record the following transactions in the purchases journal: Feb. 2 Purchased inventory on account from Pinetop Inc. (vendor account number 3765), Purchase Order (PO) # 12345 in the amount of $3,456. Feb. 8 Purchased inventory on account from Sherwood Company (vendor account number 5461), PO# 12346, in the amount of $2,951. Feb. 12 Purchased inventory on account from Green Valley Inc. (vendor #4653), PO# 12347, in the amount of $4,631.Question Content Area Merchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $19,700. What is the amount of sales discount allowable? a. $189 b. $142 c. $201 d. $394BUS 038 : Business Computations9. You purchase goods on an invoice dated July 5 with terms of 4/15, n/45 ROG. If you receive the goods on July 23, calculate (a) the last day of the discount period, and (b) the last day of the credit period. b. Last day of credit period:
- MF2 9 Purchased merchandise from Keene Co. for $9,100 under credit terms of 2/15, n/60, FOB destination. Analysis Component: As the senior purchaser for Belton Company, you are concerned that the purchase discounts you have negotiated are not being taken advantage of by the accounts payable department. Calculate the cost of the lost discount regarding the July 9 purchase. Assume a 6% interest rate. (Do not round intermediate calculations. Round your final answer to 2 decimal places. Assume 365 days a year.)BUS 038 : Business Computatns10. You purchase goods on an invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last day of the discount period, and (b) the last day of the credit period.D Traders purchased a product for R1 450 (excluding VAT). It was resold for R2 100 (excluding VAT) Calculate the mark-up on cost for this product.
- PB13. LO 3.5Post the following November transactions to T-accounts for Accounts Payable, Inventory, and Cash, indicating the ending balance. Assume no beginning balances in Accounts Payable and Inventory, and a beginning Cash balance of $21,220. purchased merchandise inventory on account, $9,900 paid vendors for part of inventory purchased earlier in month, $6,500 purchased merchandise inventory for cash, $4,75038 BB Corp.’s accounts receivable subsidiary ledger shows the following information: Customer Account BalanceDecember 31, 2022 Sales Invoices Date Amount Pray Inc. P 35,180 12/6/2022 P 14,000 11/29/2022 21,180 Patience Co. 20,920 9/27/2022 12,000 8/20/2022 8,920 Love Corp. 30,600 12/8/2022 20,000 10/25/2022 10,600 Happy Co. 45,140 11/17/2022 23,140 10/9/2022 22,000 Kindness Corp. 31,600 12/12/2022 19,200 12/2/2022 12,400 Gentleness Inc. 17,400 9/12/2022 17,400 The estimated bad debts rates below are based on BB’s receivable collection experience. Age of Accounts Rate 0 -30 days 1.00% 31- 60 days 1.50% 61-90 days 3.00% 91 - 120 days 10.00% over 120 days 50.00% The allowance for bad debts had beginning balance of P6,500. Statement 1: The net realizable value of the accounts receivable at December 31, 2022 is P165,170. Statement 2:…TB MC Qu. 6-34 (Algo) For Case (B) above, what is the... Case (A) Case (B) Case (C) Beginning Balance (BB) $ 53,520 $ 32,100 $ 22,600 Ending Balance (EB) ? 28,400 29,200 Transferred In (TI) 183,200 ? 87,100 Transferred Out (TO) 181,400 110,200 ? For Case (B) above, what is the Transferred-In (TI)? Multiple Choice A) $106,500. B) $49,700. C) $170,700. D) $113,900.