Purchase Order Acme Plywood Co. 1234 West Ave. Somewhere, OH 00000 P.O. # Date: Vendor: Ship Via: Please refer to this P.O. number on all correspondence. Prepared by: Item # Description Quantity Cost Extension
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Acme Plywood Company uses the purchase order shown in the diagram.
Acme business rules:
1. Each vendor may supply many items; an item is supplied by only one vendor.
2. A purchase order may list many items; an item may be listed on many purchase orders.
3. An employee may complete several purchase orders, but only one employee may fill out an individual PO.
Prepare the 3FN base tables needed to produce this purchase order.
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- Please refer to the picture below for information. Kindly show the complete solution using MS Excel or Table. Thank you so much. Question: Using Periodic system and FIFO method, and Perpetual system and FIFO Method what is the amount of inventory as of December 31, respectively.? Choices For Periodic system/FIFO Method: a. P59,000 b. P57,000 c. P61,600 d. P60,210 Choices for Perpetual System/FIFO Method: a. P59,000b. P57,000c. P61,600d. P60,210eBook Show Me How Question Content Area Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar. Merchandise FreightPaid by Seller Freight Terms Credit forRefunds andAllowances a. $5,850 $100 FOB shipping point, 2/10, n/30 $1,550 b. 2,800 500 FOB destination, 1/10, n/30 1,100eBook Show Me HowSpreadsheetPrint Item Question Content Area Inventory Write-Down The following information is taken from Aden Company's records: Product Group Units Cost/Unit Market/Unit A 1 700 $1.10 $0.90 B 1 250 1.50 1.55 C 2 150 4.90 5.15 D 2 100 6.50 6.40 E 3 80 25.00 24.60 Required: What is the correct inventory value if the company applies the LCNRV rule to each of the following? Individual items Product A $fill in the blank 1 630 Product B fill in the blank 2 375 Product C fill in
- Purchase-Related Transactions Journalize entries for the following related transactions of Greenville Heating & Air Company: If an amount box does not require an entry, leave it blank. a. Purchased $24,000 of merchandise from Foster Co. on account, terms 2/10, n/30. fill in the blank 9546a7fcdff6053_2 fill in the blank 9546a7fcdff6053_3 fill in the blank 9546a7fcdff6053_5 fill in the blank 9546a7fcdff6053_6 b. Paid the amount owed on the invoice within the discount period. fill in the blank 208338fa001ef91_2 fill in the blank 208338fa001ef91_3 fill in the blank 208338fa001ef91_5 fill in the blank 208338fa001ef91_6 c. Discovered that $4,800 of the merchandise purchased in (a) was defective and returned items, receiving credit for $4,704 [$4,800 – ($4,800 × 2%)] fill in the blank 0c1296034072fc0_2 fill in the blank 0c1296034072fc0_3 fill in the blank 0c1296034072fc0_5 fill in the blank 0c1296034072fc0_6…Question The following information is taken from the records of Wildlife florist.The company uses the perpetual inventory system Date Description units unit cost (RM) DEC1 Opening inventory 200 20 Dec5 Sale 108 Dec6 Purchase 200 18 Dec 12 Purchase 125 17 Dec 13 Sale 300 Dec 19 Purchase 350 21 Dec 29 Purchase 150 18 Dec 30 Sale 400 Required : (a) Calculate cost of goods sold and the cost of ending inventory under each of the following inventory cost flow assunmptions: i) FIFO ii) Weighted average (b) Assume each unit sold for RM25. Complete the following partial income statements: FIFO…Identify Postings from Purchases Journal Using the following purchases journal, identify each of the posting references, indicated by a letter, as representing (1) a posting to a general ledger account, (2) a posting to a subsidiary ledger account, or (3) that no posting is required: PURCHASES JOURNAL Page 49 Date Account Credited Post.Ref. AccountsPayableCr. StoreSuppliesDr. OfficeSuppliesDr. OtherAccountsDr. Post.Ref. Amount 20Y9 Jan. 4 Coastal Equipment Co. (a) 5,325 Warehouse Equipment (g) 5,325 Jan. 6 Arrow Supply Co. (b) 4,000 4,000 Jan. 9 Valley Products (c) 1,875 1,600 275 Jan. 14 Office Warehouse (d) 2,200 Office Equipment (h) 2,200 Jan. 20 Office Warehouse (e) 6,000 Store Equipment (i) 6,000 Jan. 25 Metro Supply Co. (f) 2,740 2,740 Jan. 30 22,140 4,340 4,275 13,525 (j) (k) (l) (m) Post reference represents: a. b. c.…
- baby Company provided the followingdata:Items included in thebodega 4,000,000Items included in the specificallysegregated per sale oncontract 100,000Items in receiving department,returned by customer, in goodcondition 50,000Items ordered and in thereceiving department 400,000Items ordered, invoice receivedbut goods not received. Freightis on account on seller 300,000Items shipped today, invoicemailed, FOB shipping point 250,000Items shipped today, invoicemailed, FOB destination 150,000Items currently being used forwindow display 200,000Items on counter for sale 800,000Items in receiving department,refused because of damage 50,000Items in the shippingDepartment 250,000 How much is the cost of ending inventory?Please refer to the picture below for information. Kindly show the complete solution using MS Excel or Table. Thank you so much. Question: Using Perpetual system and LIFO method, what is the amount of inventory as of December 31? a. P59,000 b. P57,000 c. P61,600 d. P60,210Present the Journal entries in the books of Greenland Supplies Co. and the corresponding Journal entry in the book of its its suppliers for all of the transactions related to the following purchase invoices. Assume that Greenland Supplies Co. and its suppliers use the periodic inventory system. Supplier: Three Stars Co. P20,000 Date of Invoice: May 13 Freight P200 Credit Terms: 2/10, n/30 Freight terms: FOB Shipping Point Freight paid by: Greenland Supplies Co. Date Account paid: May 25 Supplier: Sterling Paper Products P12,000 Date of Invoice: May 17 Freight P100 Credit terms: 2/10, 1/15, n/30 Freight terms: FOB Destination Freight…
- Question Content Area Purchase-Related Transactions Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $28,500, terms n/30. The cost of the merchandise sold is $17,100. Showcase Co. issues a credit memo for $5,100 as a price adjustment prior to Balboa Co. paying the original invoice. Question Content Area a. Journalize Balboa Co.’s entry for the purchase. If an amount box does not require an entry, leave it blank. Question Content Area b. Journalize Balboa Co.’s entry for the credit memo. If an amount box does not require an entry, leave it blank. Question Content Area c. Journalize Balboa Co.’s entry for the payment of the invoice. If an amount box does not require an entry, leave it blank.company A issues an invoice upon selling its product to company bBelow is the information extracted from the invoiceprice : $ 100quantity: 50Term: n/3; 2/10date : 2022-oct-10 find the discount amount? and discount period?Calculate the cost of material available for use, cost of material issued and cost of material ending under FIFO and LIFO methods (periodic system). Also give the journal entries under each of the method. Date detail Units cost per unit Rs. Total cost Rs. Jan 1 beg inventory 20 10 200 Jan 5 Purchases 50 11 550 Jan 6 issued 30 Jan 9 Purchases 40 12 480 Jan 15 Purchases 20 13 260 Jan 20 Issued 60 Jan 28 Purchases 10 15 150