he following amounts were obtained from the accounting records of Newton Company, Washington Inc., and Adams Company: Newton Washington Adams Purchases $67,200 $102,000 (c) Freight in 2,300 (b) 3,475 Purchase discounts (4,110) (9,700) (5,000) Purchase returns and allowances (3,180) (8,250) (1,210) Net purchases (a) 92,600 45,500 Required: Compute the missing amounts. Newton Washington Adams Purchases $67,200 $102,000 $fill in the blank 1 Freight in 2,300 fill in the blank 2 3,475 Purchase discounts (4,110) (9,700) (5,000) Purchase returns and allowances (3,180) (8,250) (1,210) Net purchases fill in the blank 3 92,600 45,500
he following amounts were obtained from the accounting records of Newton Company, Washington Inc., and Adams Company: Newton Washington Adams Purchases $67,200 $102,000 (c) Freight in 2,300 (b) 3,475 Purchase discounts (4,110) (9,700) (5,000) Purchase returns and allowances (3,180) (8,250) (1,210) Net purchases (a) 92,600 45,500 Required: Compute the missing amounts. Newton Washington Adams Purchases $67,200 $102,000 $fill in the blank 1 Freight in 2,300 fill in the blank 2 3,475 Purchase discounts (4,110) (9,700) (5,000) Purchase returns and allowances (3,180) (8,250) (1,210) Net purchases fill in the blank 3 92,600 45,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Question
he following amounts were obtained from the accounting records of Newton Company, Washington Inc., and Adams Company:
Newton Washington Adams
Purchases $67,200 $102,000 (c)
Freight in 2,300 (b) 3,475
Purchase discounts (4,110) (9,700) (5,000)
Purchase returns and allowances (3,180) (8,250) (1,210)
Net purchases (a) 92,600 45,500
Required:
Compute the missing amounts.
Newton Washington Adams
Purchases $67,200 $102,000 $fill in the blank 1
Freight in 2,300 fill in the blank 2
3,475
Purchase discounts (4,110) (9,700) (5,000)
Purchase returns and allowances (3,180) (8,250) (1,210)
Net purchases fill in the blank 3
92,600 45,500
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