journalize the december transaction and adjusting entries assuming bramble use the perpetual inventory method View PoliciesShow Attempt HistoryCurrent Attempt in ProgresOn December 1, 2020, Bramble Printers had the account balances shown below.DebitCreditCash£6.045Accumulated Depreciation-Equipment€ 1.950Accounts Receivable5,070Accounts Payable3,900Inventory2,535*Share Capital-Ordinary26,000Equipment27,300Retained Earnings9,100£ 40,950£ 40,950(3,900 x£0.65)The following transactions occurred during December: estion O UI O11.67/35The following transactions occurred during December:Dec. 3Purchased 5,200 units of inventory on account at a cost of £0.72 per unit.5.Sold 5,720 units of inventory on account for £0.92 per unit. (It sold 3.900 of the E 0.65 units and 1,820 of the £0.72.)7.Granted the December 5 customer £ 239 credit for 260 units of inventory returned costing E 184. These units wereretumed to inventory.17Purchased 2,860 units of inventory for cash at E0.78 each,22Sold 2.600 units of inventory on account for £0.95 per unit. (It sold 2.600 of the E0.72 units.)Adjustment data:1.Accrued salaries payable £ 520.2.Depreciation £ 260 per month.

Adjusting journal entry: At year-end when the company finalizes its accounts then any unrecognized…

On December 1, 2020, Bramble Printers had the account balances shown below. Debit Credit Cash £6.045 Accumulated Depreciation-Equipment €1.950 Accounts Receivable 5,070 Accounts Payable 3,900 Inventory 2.535 Share Capital-Ordinary 26.000 Equipment 27,300 Retained Earnings 9,100 E 40,950 E 40,950 *(3,900 x£0.65) The following transactions occurred during December:

On December 1, 2020, Bramble Printers had the account balances shown below. Debit Credit Cash £6.045 Accumulated Depreciation-Equipment €1.950 Accounts Receivable 5,070 Accounts Payable 3,900 Inventory 2.535 Share Capital-Ordinary 26.000 Equipment 27,300 Retained Earnings 9,100 E 40,950 E 40,950 *(3,900 x£0.65) The following transactions occurred during December:

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Chapter11: The Statement Of Cash Flows

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Problem 66.5C: Comparative Analysis: Under Armour, Inc., versus Columbia Sportswear Refer to the 10-K reports of...

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Question

journalize the december transaction and adjusting entries assuming bramble use the perpetual inventory method

View Policies
Show Attempt History
Current Attempt in Progres
On December 1, 2020, Bramble Printers had the account balances shown below.
Debit
Credit
Cash
£6.045
Accumulated Depreciation-Equipment
€ 1.950
Accounts Receivable
5,070
Accounts Payable
3,900
Inventory
2,535*
Share Capital-Ordinary
26,000
Equipment
27,300
Retained Earnings
9,100
£ 40,950
£ 40,950
(3,900 x£0.65)
The following transactions occurred during December:

estion O UI O
11.67/35
The following transactions occurred during December:
Dec. 3
Purchased 5,200 units of inventory on account at a cost of £0.72 per unit.
5.
Sold 5,720 units of inventory on account for £0.92 per unit. (It sold 3.900 of the E 0.65 units and 1,820 of the £0.72.)
7.
Granted the December 5 customer £ 239 credit for 260 units of inventory returned costing E 184. These units were
retumed to inventory.
17
Purchased 2,860 units of inventory for cash at E0.78 each,
22
Sold 2.600 units of inventory on account for £0.95 per unit. (It sold 2.600 of the E0.72 units.)
Adjustment data:
1.
Accrued salaries payable £ 520.
2.
Depreciation £ 260 per month.

Definition Definition Entries made at the end of every accounting period to precisely replicate the expenses and revenue of the current period. This is also known as end of period adjustment. It can also refer to financial reporting that corrects errors made previously in the accounting period. Every adjustment entry affects at least one real account and one nominal account.

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