Homework Help is Here – Start Your Trial Now!
Business
Accounting
9. The following data is for the J.M Paculan Corporation: P600,000 42,000 77,000 Sales revenue Freight in Beginning inventory Purchase discounts Sales returns and allowances 19,000 33,000 77,000 81,000 415,000 35,000 Operating expenses Ending inventory Purchases Sales discounts J.M. Paculan, withdrawals 71,000 Purchase returns and allowances 39,000 The total cost of goods available for sale for the J.M. Paculan Corporation is: a. P489,000 b. P408,000 C. P476,000 d. P441,000 10. The cost of goods sold for J.M. Paculan Corporation is: P524,000 b. P489,000 C. P557,000 d. P395,000 a. 1. The closing process includes crediting the following accounts to bring thein balances to zero: a. allowance for doubtful accounts b. purchases and freight in C. purchase discounts and sales discounts d. purchase returns and allowances and purchase discounts

9. The following data is for the J.M Paculan Corporation: P600,000 42,000 77,000 Sales revenue Freight in Beginning inventory Purchase discounts Sales returns and allowances 19,000 33,000 77,000 81,000 415,000 35,000 Operating expenses Ending inventory Purchases Sales discounts J.M. Paculan, withdrawals 71,000 Purchase returns and allowances 39,000 The total cost of goods available for sale for the J.M. Paculan Corporation is: a. P489,000 b. P408,000 C. P476,000 d. P441,000 10. The cost of goods sold for J.M. Paculan Corporation is: P524,000 b. P489,000 C. P557,000 d. P395,000 a. 1. The closing process includes crediting the following accounts to bring thein balances to zero: a. allowance for doubtful accounts b. purchases and freight in C. purchase discounts and sales discounts d. purchase returns and allowances and purchase discounts

icon
Related questions
Question
9. The following data is for the J.M Paculan Corporation: P600,000 42,000 77,000 19,000 Sales revenue Freight in Beginning inventory Purchase discounts Sales returns and allowances 33,000 Operating expenses Ending inventory 77,000 81,000 415,000 35,000 71,000 Purchases Sales discounts J.M. Paculan, withdrawals Purchase returns and allowances 39,000 The total cost of goods available for sale for the J.M. Paculan Corporation is: a. P489,000 b. P408,000 C. P476,000 d. P441,000 10. The cost of goods sold for J.M. Paculan Corporation is: a. P524,000 b. P489,000 C. P557,000 d. P395,000 11. The closing process includes crediting the following accounts to bring their balances to zero: a. allowance for doubtful accounts b. purchases and freight in c. purchase discounts and sales discounts d. purchase returns and allowances and purchase discounts
Transcribed Image Text:9. The following data is for the J.M Paculan Corporation: P600,000 42,000 77,000 19,000 Sales revenue Freight in Beginning inventory Purchase discounts Sales returns and allowances 33,000 Operating expenses Ending inventory 77,000 81,000 415,000 35,000 71,000 Purchases Sales discounts J.M. Paculan, withdrawals Purchase returns and allowances 39,000 The total cost of goods available for sale for the J.M. Paculan Corporation is: a. P489,000 b. P408,000 C. P476,000 d. P441,000 10. The cost of goods sold for J.M. Paculan Corporation is: a. P524,000 b. P489,000 C. P557,000 d. P395,000 11. The closing process includes crediting the following accounts to bring their balances to zero: a. allowance for doubtful accounts b. purchases and freight in c. purchase discounts and sales discounts d. purchase returns and allowances and purchase discounts
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer