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Francis 31, but at Open so that r which cash Dec. Check on which inventory.

Francis 31, but at Open so that r which cash Dec. Check on which inventory.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I need help in P7.1 in Accounting.

the end of this is it's cash book so that PE 7.1(L0]) (Determine Proper cash Bal.) Francis Egmir. Co. Closes it's books re4larly on Dec,31, byt at the end of 202o, this is held it's cash bookK Open so tha 9. transactions The info is given below. I Janyary cash receiets rPCorded in the Dec. (ash book totaled $45,640 of Which $28,0o0 represents cash sales and $17,640 repPresents collections on account for which cash discounts of $360 were given. on which discounts of $250 were taken. 3. The ledger has not been closed for 2020. 4. The anmount Shown as in ventory was determined bY Physical count on Dec 31,2020. The Company uses the Periodic method of inventory. Instructions: 9 Prepare any entries You consider necessary to Correct Francis's accounts at Deci37.
Transcribed Image Text:the end of this is it's cash book so that PE 7.1(L0]) (Determine Proper cash Bal.) Francis Egmir. Co. Closes it's books re4larly on Dec,31, byt at the end of 202o, this is held it's cash bookK Open so tha 9. transactions The info is given below. I Janyary cash receiets rPCorded in the Dec. (ash book totaled $45,640 of Which $28,0o0 represents cash sales and $17,640 repPresents collections on account for which cash discounts of $360 were given. on which discounts of $250 were taken. 3. The ledger has not been closed for 2020. 4. The anmount Shown as in ventory was determined bY Physical count on Dec 31,2020. The Company uses the Periodic method of inventory. Instructions: 9 Prepare any entries You consider necessary to Correct Francis's accounts at Deci37.
To What extent was Francis Emip Co. 9ble to Show a more 39,000 Cash 0000 000 Accounts Receiv. Inventory Accounts PaYi
Transcribed Image Text:To What extent was Francis Emip Co. 9ble to Show a more 39,000 Cash 0000 000 Accounts Receiv. Inventory Accounts PaYi
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