Subject - account Place help me. Thankyou. On December 1, 2022, Vaughn Company had the account balances shown below.CashAccounts ReceivableInventoryEquipment*(3,200 x $0.60)Dec. 3572.17The following transactions occurred during December:22Debit$5,000 Accumulated Depreciation-EquipmentAccounts PayableOwner's CapitalAdjustment data:4,4001,92021,000$32,320Credit1. Recognized accrued salaries payable $300.Recognized depreciation $240 per month.$1,2003,80027,320Purchased 5,200 units of inventory on account at a cost of $0.74 per unit.Sold 5,500 units of inventory on account for $0.90 per unit. (Vaughn sold 3,200 of the $0.60 units and 2,300 of the$0.74.)$32,320Granted the December 5 customer $177 credit for 200 units of inventory returned costing $118. These units werereturned to inventory.Purchased 2,300 units of inventory for cash at $0.80 each.Sold 2,400 units of inventory on account for $0.95 per unit. (Vaughn sold 2,400 of the $0.74 units.) Prepare an adjusted trial balance as of December 31, 2022.TotalsNet SalesLessCORONADO COMPANYAdjusted Trial Balance: Sales Returns and AllowancesCORONADO COMPANYIncome StatementtA$tADebitPrepare a multiple-step income statement for December 2022. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)$LA$tA$Credit

The adjusted trial balance would be prepared after preparing the cash account, inventory account,…

On December 1, 2022, Vaughn Company had the account balances shown below. Cash Accounts Receivable Inventory Equipment Dec. 3 *(3,200 x $0.60) The following transactions occurred during December: 1. 5 2. 7 17 22 Debit $5,000 4,400 1,920 21,000 $32,320 Adjustment data: Accumulated Depreciation-Equipment Accounts Payable Owner's Capital Credit $1,200 3,800 27,320 Purchased 5,200 units of inventory on account at a cost of $0.74 per unit. Sold 5,500 units of inventory on account for $0.90 per unit. (Vaughn sold 3,200 of the $0.60 units and 2,300 of the $0.74.) Recognized accrued salaries payable $300. Recognized depreciation $240 per month. $32,320 Granted the December 5 customer $177 credit for 200 units of inventory returned costing $118. These units were returned to inventory. Purchased 2,300 units of inventory for cash at $0.80 each. Sold 2,400 units of inventory on account for $0.95 per unit. (Vaughn sold 2,400 of the $0.74 units.)

On December 1, 2022, Vaughn Company had the account balances shown below. Cash Accounts Receivable Inventory Equipment Dec. 3 *(3,200 x $0.60) The following transactions occurred during December: 1. 5 2. 7 17 22 Debit $5,000 4,400 1,920 21,000 $32,320 Adjustment data: Accumulated Depreciation-Equipment Accounts Payable Owner's Capital Credit $1,200 3,800 27,320 Purchased 5,200 units of inventory on account at a cost of $0.74 per unit. Sold 5,500 units of inventory on account for $0.90 per unit. (Vaughn sold 3,200 of the $0.60 units and 2,300 of the $0.74.) Recognized accrued salaries payable $300. Recognized depreciation $240 per month. $32,320 Granted the December 5 customer $177 credit for 200 units of inventory returned costing $118. These units were returned to inventory. Purchased 2,300 units of inventory for cash at $0.80 each. Sold 2,400 units of inventory on account for $0.95 per unit. (Vaughn sold 2,400 of the $0.74 units.)

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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