grades for summer 07
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Liberty University *
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110
Subject
Accounting
Date
Nov 24, 2024
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xls
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Financial Accounting
ACTG
110
Points Possible
Perct
Grade
Assignment
Homework
30
40
75.0% C
Quiz Chp 1
4.4
5
88.0% B
Quiz Chp 3
4.13
5
82.6% B
Quiz Chp 4
3.75
5
75.0% C
Quiz Chp 5
3.88
5
77.6% C
Quiz Chp 6
3.84
5
76.8% C
Quiz Chp 7
4
5
80.0% B
Quiz Chp 8
3.83
5
76.6% C
Quiz Chp 9
2.6
3
86.7% B
Quiz Chp 10
8
2
80.0% B
Quiz Chp 11
8
0
80.0% B
Test 1
103
120
85.8% B
Test 2
95
120
79.2% C
Test 3
102
120
85.0% B
Total
376.43
440
85.6% B
Management Accounting
ACTG
111
Quiz 1
5
10
50.0% F
Quiz 2
10
10
100.0% A
Quiz 3
10
10
100.0% A
Test 1
84
100
84.0% B
Test 2
66
100
66.0% D
Total
175
230
76.1% C
4
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TABLE 1Present value of R1Periods 4% 6% 8% 10% 12% 14%
1 0.962 0.943 0.926 0.909 0.893 0.877
2 0.925 0.890 0.857 0.826 0.797 0.769
3 0.889 0.840 0.794 0.751 0.712 0.675
4 0.855 0.792 0.735 0.683 0.636 0.592
5 0.822 0.747 0.681 0.621 0.567 0.519
6 0.790 0.705 0.630 0.564 0.507 0.456
7 0.760 0.665 0.583 0.513 0.452 0.400
8 0.731 0.627 0.540 0.467 0.404 0.351
9 0.703 0.592 0.500 0.424 0.361 0.308
10 0.676 0.558 0.463 0.386 0.322 0.270
TABLE 2Present value of an Annuity of R1Periods 4% 6% 8% 10% 12% 14% 1 0.962 0.943 0.926 0.909 0.893 0.877 2 1.886 1.833 1.783 1.736 1.690 1.647 3 2.775 2.673 2.577 2.487 2.402 2.322 4 3.630 3.465 3.312…
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<
+
..
+
Sheet1
FINA310 IP TEMPLATE FOR STUDENTS
Student name:
Date:
ACTUAL
FORECAST
Current Year
Next Year
Total Revenue
71,879
Cost of Revenue
(51,125)
Gross Profit
20,754
Operating Expenses:
Selling, General, and Administrative
(14,248)
Research and Development
Special Income/Other Charges
S
(2,194)
Total Operating Expenses
(16,442)
Operating Income
S
4,312
Net Interest Income
(666)
edite
Pre-Tax Income
3,646
Provision for Income Tax (19.5%)
(711)
Net Income
2,935
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7:43 O
80
TP-PRELIMS.docx
The adjusted account balances of UTV Corp. for the year ended December 31, 2020 are as follows:
Cash and cash equivalents
Bank overdraft
P400,000
100,000
900,000
Accounts receivable
Allowance for doubtful accounts
40,000
Raw materials
Goods in process
Finished goods
Financial assets at fair value through other comprehensive income
Land, at fair market value 12/31/20
Building
Accumulated depreciation - building
Plant and equipment
Accumulated depreciation - plant and equipment
Patent
Goodwill, recognized in Jan. 2019 thru a business combination
Note payable, bank - due June 30, 2021
560,000
600,000
1,400,000
2,500,000
1,000,000
6,000,000
1,600,000
2.400.000
400,000
800,000
1,400,000
1,300,000
Note payable, bank - due June 30, 2022
Accounts payable
Employee benefit provisions
Warranty liabilities
Income tax payable
Deferred tax liability
Accumulated profits, January 1, 2020
Revaluation surplus on Land, January 1, 2020
Unrealized gain on financial assets,…
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Calculator
Lower-of-Cost-or-Market Inventory
On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the for
Inventory
Cost Per
Market Value per Unit
Product
Quantity
Unit
(Net Realizable Value)
Class 1:
Model A
46
$191
061$
Model B
95
6
60T
Model C
41
42
Class 2:
Model D
45
197
213
Model E
71
8.
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a. Determine the value of the inventory at the lower of cost or market applied to each item in the inventory.
Inventory at the Lower of Cost or Market
Market Value
Cost
Market
Lower of Cost or Market
Inventory
Cost
per Unit
Quantity per Unit (Net Realizable Value)
Product
Model A
Model B
Model C
Model D
Model E
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Changes in Current Operating Assets and Liabilities-Indirect Method
Covington Corporation's comparative balance sheet for current assets and liabilities was as follows:
Dec. 31, 20Y2
Dec. 31, 20Y1
Accounts receivable
$15,300
Inventory
66,500
67,200
Accounts payable
20,100
0098
Dividends payable
000'
Adjust net income of $84,200 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
( Previou:
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Question 1 - Unit 8 X
ter 9 Homework Assignment i
ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fpost.blackboard.com%252Fwebap
Bookshelf: Survey o X
Income statements for Burch Company for Year 3 and Year 4 follow:
Sales
Cost of goods sold
Selling expenses
Exercise 9-3A (Static) Horizontal and vertical analysis LO 9-1
Administrative expenses
Interest expense
Total expenses
Income before taxes
Income taxes expense
Net income
BURCH COMPANY
Income Statements
Required A
Et
Outlook
Required B
Year 4
$240,000
Required
a. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4.
b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year.
Complete this question by entering your answers in the tabs below.
ME
X
M Scholarships - Midl X Submission - Goap X G Gmail: Pri
Year 3
$200,000
180,000
124,000
26,000
20,000
12,000
18,000…
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E6A-27 Computim
Learning Objective 7
Appendix 6A
ventory
Consider the data of the following companies which use the PEHOUI
system:
Beginning
Merchandise
Inventory
Ending
Merchandise
Inventory
Cost of
Goods Sold
Net Cost of
Net Sales
Gross Profit
Purchases
Company
Revenue
$ 105,000
$ 23,000
$ 59,000
$ 22,000
24
(a)
$ 45,000
Large
Small
(b)
27,000
94,000
(c)
99,000
40,000
Medium
96,000
(d)
58,000
24,000
68,000
(e)
Petite
80,000
8,000
(f)
6,500
(g)
44,000
Requirements
1. Supply the missing amounts in the preceding table.
2. Prepare the income statement for the year ended December 31, 2019, for Large
Company, which uses the periodic inventory system. Include a complete headıng
and show the full computation of cost of goods sold. Large's operating expenses
for the year were $12,000.
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7:28S W
□
e6-20
Learning Objectives 2, 3
1. COGS $2,140
⠀⠀⠀
Assume that AB Tire Store completed the following perpetual inventory
transactions for a line of tires:
May 1 Beginning merchandise inventory
11
Purchase
23 Sale
26 Purchase
29 Sale
QAA
C
16 tires @ $65 each
363/ 1480
10 tires @ $78 each
12 tires @ $88 each
14 tires @ $ 80 each
Requirements
1. Compute cost of goods sold and gross profit using the FIFO inventory
costing method.
18 tires @ $ 88 each
5G 70%
Ę
2. Compute cost of goods sold and gross profit using the LIFO inventory
costing method.
GO ||| 0 <
:
×
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The adjusted trial balance for Chiara Company as of December 31 follows.
Cash
Accounts receivable
Interest receivable
Notes receivable (due in 90 days)
Office supplies
Automobiles
Accumulated depreciation-Automobiles
COME
Equipment
equip
Accumulated depreciation-Equipment
AULI
P
Land
Accounts payable
Decou
Interest payable
CHERA
Salaries payable
TUTOR
Unearned revenue
Long-term notes payable
commo
Common stock
Retained earnings
Dividends
Services revenue
Interest revenue
Depreciation expense-Automobiles
Depreciation expense-Equipment
Salaries expense
Wages expense
Interest expense
Office supplies expense
Advertising expense
Repairs expense-Automobiles
Totals
Debit
$ 118,100
54,000
22,800
169,000
15,500
170,000
140,000
77,000
52,000
27,000
19,000
183,000
41,000
34,000
35,200
61,000
29,200
$1,247,800
Credit
$ 100,000
21,000
95,000
35,000
15,000
36,000
148,000
29,580
266,220
474,000
28,000
$ 1,247,800
Required:
Use the information in the adjusted trial balance to prepare (a) the income…
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Horizontal analysis
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Need help putting in this equation
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plzz answer it properly
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PM Sat Mar 6
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Required information
Problem 17-2A Ratios, common-size statements, and trend
Part 1 of 2
percents LO P1, P2, P3
[The following information applies to the questions displayed below.]
25
Selected comparative financial statements of Korbin Company follow.
points
KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2019, 2018, and 2017
2019
2018
2017
еВook
$ 401,594 $307,654
192,899
114,755
42,456
27,074
69,530
45,225
9,271
Sales
$213,500
241,760
159,834
Cost of goods sold
Gross profit
Selling expenses
Administrative expenses
136,640
76,860
28,182
57,026
36,143
93,169
66,665
12,400
Ask
17,721
45,903
30,957
6,284
Total expenses
Income before taxes
Print
Income tax expense
Net income
$ 54,265
$ 35,954 $ 24,673
References
KORBIN COMPANY
Comparative Balance Sheets
December 31, 2019, 2018, and 2017
2019
2018
2017
Assets
$ 59,658
$ 39,929
$ 53,376
3,870…
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Current position analysis
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MODUFAM
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B Learning Module 8 - ACCT1105: Financial Accounting II (..
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Changes in Current Operating Assets and Liabilities
Jasneet Corporation's comparative balance sheet for current assets and liabilities was as follows:
Dec. 31, Year 2 Dec. 31, Year 1
Accounts receivable
$20,200
$22,900
Inventory
13,000
10,700
Accounts payable
10,900
9,400
Dividends payable
25,100
30,700
Adjust net income of $185,000 for changes in operating assets and liabilities to arrive at net cash flows from operating activities.
Feedback
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Once you have calculated the changes in the current operating assets and liabilities determine what impact those changes would
For example if accounts receivable has increased from last year to this year does that mean the company has collected more cas
If accounts payable has decreased does that mean the company has more cash or less cash?
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OSA
ess Statistics (15cr) Jan24 Y2 S2
Back
Refer to the raw data below.
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Perpetual Inventory Using LIFO
Beginning inventory, purchases, and sales for Item Foxtrot are as follows:
Mar. 1
Inventory
270 units at $18
Sale
225 units
15
Purchase
375 units at $20
27
Sale
240 units
Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method,
determine (a) the cost of merchandise sold on March 27 and (b) the inventory on March 31.
a. Cost of merchandise sold on March 27
%24
b. Inventory on March 31
4. PE.07-04B
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Perpetual Inventory Using Weighted Average
Beginning inventory, purchases, and sales for WCS12 are as follows:
Oct. 1
Inventory
300 units at $8
13
Sale
175 units
22
Purchase
375 units at $10
29
Sale
280 units
a. Assuming a perpetual inventory system and using the weighted average method,
determine the weighted average unit cost after the October 22 purchase. Round your answer…
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Hambelton Ltd. issued $5,000,000 of 5% bonds payable on 1 September 20X9 to yield 4%. Interest on the bonds is paid semi-annually
and is payable each 28 February and 31 August. The bonds were dated 1 March 20X8, and had an original term of five years. The
accounting period ends on 31 December. The effective-interest method is used. (PV of $1, PVA of $1, and PVAD of $1.) (Use
appropriate factor(s) from the tables provided.)
Required:
1. Determine the price at which the bonds were issued. (Round time value factor to 5 decimal places. Do not round intermediate
calculations. Round your final answer to the nearest whole dollar amount.)
Price of Bond
2. Prepare a bond amortization table for the life of the bond. (Round time value factor to 5 decimal places. Do not round
intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no cells blank - be certain to enter
"O" wherever required.)
Interest
Interest
Premium
Unamortized
Net Bond
Date
Payment
Expense…
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ACADEMIC AFFAIRS
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Problem 4-8.pdf
Republic of the Philippines
City of Olongapo
CLONGALO
Olongapo City Sports Complex, East Tapinac, Olongapo City
Tel. No. (047) 224-2089 loc. 314
GORDON COLLEGE
Problem 4-8 (Determining the Missing Element of the Income Statement)
The partial income statement of five different companies are as follows:
1
2
3
4
5
Net Sales
d
250,000
400,000
120,000
a
290,000
Merch. Inventory 1/1/20
50,000
j
160,000
70,000
Net Cost of Purchases
80,000
e
390,000
Good Available for Sale
110,000
160,000
h
k
m
Merch. Inventory 12/31/20
40,000
f
30,000
70,000
Cost of Goods Sold
140,000
230,000
1
380,000
Gross Profit
50,000
40,000
i
160,000
Required: Replace the lettered blanks with the appropriate amounts. (Show your complete solution).
Fundamentals of Accounting Part 1 - 1ª Semester AY 2020-2021
NOT FOR SALE EXCLUSIVE FOR GORDON COLLEGE ONLY
OLLEGE
GORDON
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C3
71
3 24
4 25
5 26
6 27
7 28
▼
A
Age
X✓ fx
0
=F3
-F4
=F5
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B
Beginning
Balance
0.061
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-$C$3
-$C$3
-$C$3
C
Return
Rate (%)
=C3 83
=C4 B4
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=C6 B6
-C7'B7
D
Interest
Earned
5000
=$E$3
-$E$3
-$E$3
-$E$3
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Annual
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F
Ending
Balance
-83+D3+E3
=B4+D4+E4
=B5+D5+E5
=B6+D6+E6
=B7+D7+E7
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please dont provide answer in image format thank you
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4G
2:31 PM ě
0.0KB/s 1ll
82
01:00:19 Remaining
Multiple Choice
How much is the company's cost of
goods sold during the year?
1 attachment
following data about a company:
nt ratio
3.
est ratio
3.
nt liabilities at year-end
tory, beginning of the year
tory turnover
O P400,000
O P600,000
O P1,600,000
O P800,000
14 of 20
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7:30 S&WYDO
□
E6A-27 Computing periodic inventory amounts
Learning Objective 7 Appendix 6A
:::
e6a-27
Consider the data of the following companies which use the periodic inventory
system:
Company Net
Large
Small
Medium
Petite
Sales
Revenue
$
105,000
Requirements.
(b)
96,000
80,000
Beginning Net Cost
Merchandise of
Inventory
$ 23,000 $ 59,000
27,000
(d)
Purchases
8,000
94,000
58,000
366/ 1480
QAA
(f)
Ending
Merchandise of
Inventory
Cost
Goods
Sold
5G l 69%
$ 22,000 $ (a)
Gross
Profit
$
45,000
(c) 99,000 40,000
24,000 68,000 (e)
6,500 (g) 44,000
IG b III O <
×
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- Net Profit Percentage margin Current Ratio Acid Test ROCEarrow_forwardTABLE 1Present value of R1Periods 4% 6% 8% 10% 12% 14% 1 0.962 0.943 0.926 0.909 0.893 0.877 2 0.925 0.890 0.857 0.826 0.797 0.769 3 0.889 0.840 0.794 0.751 0.712 0.675 4 0.855 0.792 0.735 0.683 0.636 0.592 5 0.822 0.747 0.681 0.621 0.567 0.519 6 0.790 0.705 0.630 0.564 0.507 0.456 7 0.760 0.665 0.583 0.513 0.452 0.400 8 0.731 0.627 0.540 0.467 0.404 0.351 9 0.703 0.592 0.500 0.424 0.361 0.308 10 0.676 0.558 0.463 0.386 0.322 0.270 TABLE 2Present value of an Annuity of R1Periods 4% 6% 8% 10% 12% 14% 1 0.962 0.943 0.926 0.909 0.893 0.877 2 1.886 1.833 1.783 1.736 1.690 1.647 3 2.775 2.673 2.577 2.487 2.402 2.322 4 3.630 3.465 3.312…arrow_forward< + .. + Sheet1 FINA310 IP TEMPLATE FOR STUDENTS Student name: Date: ACTUAL FORECAST Current Year Next Year Total Revenue 71,879 Cost of Revenue (51,125) Gross Profit 20,754 Operating Expenses: Selling, General, and Administrative (14,248) Research and Development Special Income/Other Charges S (2,194) Total Operating Expenses (16,442) Operating Income S 4,312 Net Interest Income (666) edite Pre-Tax Income 3,646 Provision for Income Tax (19.5%) (711) Net Income 2,935arrow_forward
- 4G 4G 7:43 O 80 TP-PRELIMS.docx The adjusted account balances of UTV Corp. for the year ended December 31, 2020 are as follows: Cash and cash equivalents Bank overdraft P400,000 100,000 900,000 Accounts receivable Allowance for doubtful accounts 40,000 Raw materials Goods in process Finished goods Financial assets at fair value through other comprehensive income Land, at fair market value 12/31/20 Building Accumulated depreciation - building Plant and equipment Accumulated depreciation - plant and equipment Patent Goodwill, recognized in Jan. 2019 thru a business combination Note payable, bank - due June 30, 2021 560,000 600,000 1,400,000 2,500,000 1,000,000 6,000,000 1,600,000 2.400.000 400,000 800,000 1,400,000 1,300,000 Note payable, bank - due June 30, 2022 Accounts payable Employee benefit provisions Warranty liabilities Income tax payable Deferred tax liability Accumulated profits, January 1, 2020 Revaluation surplus on Land, January 1, 2020 Unrealized gain on financial assets,…arrow_forwardEe 52.arrow_forward%24 %24 ium : Powered by S X HW7.pdf * CengageNOWv2 | Online teachin x Cengage Learning v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker%3D8&takeAssignmentSessionLocator=&inprogress eBook Show Me How Calculator Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the for Inventory Cost Per Market Value per Unit Product Quantity Unit (Net Realizable Value) Class 1: Model A 46 $191 061$ Model B 95 6 60T Model C 41 42 Class 2: Model D 45 197 213 Model E 71 8. > a. Determine the value of the inventory at the lower of cost or market applied to each item in the inventory. Inventory at the Lower of Cost or Market Market Value Cost Market Lower of Cost or Market Inventory Cost per Unit Quantity per Unit (Net Realizable Value) Product Model A Model B Model C Model D Model E pe here to search SNSVarrow_forward
- in CengageNOWv2| Online teachi x Cengage Learning 8-1 Problem Set: Module Eight X how.comn/akeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=D&inprogress3false eBook Show Me How Changes in Current Operating Assets and Liabilities-Indirect Method Covington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $15,300 Inventory 66,500 67,200 Accounts payable 20,100 0098 Dividends payable 000' Adjust net income of $84,200 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. ( Previou: Check My Work レ AD 12arrow_forwardQuestion 1 - Unit 8 X ter 9 Homework Assignment i ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fpost.blackboard.com%252Fwebap Bookshelf: Survey o X Income statements for Burch Company for Year 3 and Year 4 follow: Sales Cost of goods sold Selling expenses Exercise 9-3A (Static) Horizontal and vertical analysis LO 9-1 Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income BURCH COMPANY Income Statements Required A Et Outlook Required B Year 4 $240,000 Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4. b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year. Complete this question by entering your answers in the tabs below. ME X M Scholarships - Midl X Submission - Goap X G Gmail: Pri Year 3 $200,000 180,000 124,000 26,000 20,000 12,000 18,000…arrow_forwardE6A-27 Computim Learning Objective 7 Appendix 6A ventory Consider the data of the following companies which use the PEHOUI system: Beginning Merchandise Inventory Ending Merchandise Inventory Cost of Goods Sold Net Cost of Net Sales Gross Profit Purchases Company Revenue $ 105,000 $ 23,000 $ 59,000 $ 22,000 24 (a) $ 45,000 Large Small (b) 27,000 94,000 (c) 99,000 40,000 Medium 96,000 (d) 58,000 24,000 68,000 (e) Petite 80,000 8,000 (f) 6,500 (g) 44,000 Requirements 1. Supply the missing amounts in the preceding table. 2. Prepare the income statement for the year ended December 31, 2019, for Large Company, which uses the periodic inventory system. Include a complete headıng and show the full computation of cost of goods sold. Large's operating expenses for the year were $12,000.arrow_forward
- 7:28S W □ e6-20 Learning Objectives 2, 3 1. COGS $2,140 ⠀⠀⠀ Assume that AB Tire Store completed the following perpetual inventory transactions for a line of tires: May 1 Beginning merchandise inventory 11 Purchase 23 Sale 26 Purchase 29 Sale QAA C 16 tires @ $65 each 363/ 1480 10 tires @ $78 each 12 tires @ $88 each 14 tires @ $ 80 each Requirements 1. Compute cost of goods sold and gross profit using the FIFO inventory costing method. 18 tires @ $ 88 each 5G 70% Ę 2. Compute cost of goods sold and gross profit using the LIFO inventory costing method. GO ||| 0 < : ×arrow_forwardThe adjusted trial balance for Chiara Company as of December 31 follows. Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) Office supplies Automobiles Accumulated depreciation-Automobiles COME Equipment equip Accumulated depreciation-Equipment AULI P Land Accounts payable Decou Interest payable CHERA Salaries payable TUTOR Unearned revenue Long-term notes payable commo Common stock Retained earnings Dividends Services revenue Interest revenue Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense Office supplies expense Advertising expense Repairs expense-Automobiles Totals Debit $ 118,100 54,000 22,800 169,000 15,500 170,000 140,000 77,000 52,000 27,000 19,000 183,000 41,000 34,000 35,200 61,000 29,200 $1,247,800 Credit $ 100,000 21,000 95,000 35,000 15,000 36,000 148,000 29,580 266,220 474,000 28,000 $ 1,247,800 Required: Use the information in the adjusted trial balance to prepare (a) the income…arrow_forwardHorizontal analysisarrow_forward
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