Homework Help is Here – Start Your Trial Now!
Business
Accounting
PART (B): The following were selected from among the transactions completed by Fulah Design during December of the current year. Dec 3. Purchased merchandise on account from Jati Enterprise, list price RM22,000, trade discount 25%, term FOB shipping point, 2/10, n30, with prepaid transportation cost of RM660 added to the invoice. 5. Purchased merchandise on account from Tsofa Enterprise, RM20,250, terms FOB destination, 2/10, n30. 6. Sold merchandise on account to Melati Wholesale, list price RM18,000, trade discount 35%, terms 2/10, n30. The cost of merchandise sold was RM8,250. 7. Returned RM2,800 of merchandise purchased on 5 December from Tsofa Enterprise. 13. Paid Jati Enterprise on account for purchase of 3 December, less discount. 15. Paid Tsofa Enterprise on account for purchase of 5 December, less return of December 7 and discount. 16. Received cash on account from sale of 6 December to Melati Wholesale, less discount. 19. Sold merchandise on MasterCard, RM49,500. The cost of the merchandise sold was RM23,700. 22. Sold marchandise on 210, n30. The cost of the merchandise sold was R16,700. account to Furniture Resources, RM15,300, terms 23 Sold merchandise for cash, RNI27,680. The cost of the merchandise sold as RM12 100. 28 Raceived merchandise returned by Furniture Rasources from sale of 22 December, RNI3.000 The cost of the returned merchandise was RM1.400. 31 Paid MasterCard service fee of RM1.050. REQUIRED onaenaliea the Manaaetioni

PART (B): The following were selected from among the transactions completed by Fulah Design during December of the current year. Dec 3. Purchased merchandise on account from Jati Enterprise, list price RM22,000, trade discount 25%, term FOB shipping point, 2/10, n30, with prepaid transportation cost of RM660 added to the invoice. 5. Purchased merchandise on account from Tsofa Enterprise, RM20,250, terms FOB destination, 2/10, n30. 6. Sold merchandise on account to Melati Wholesale, list price RM18,000, trade discount 35%, terms 2/10, n30. The cost of merchandise sold was RM8,250. 7. Returned RM2,800 of merchandise purchased on 5 December from Tsofa Enterprise. 13. Paid Jati Enterprise on account for purchase of 3 December, less discount. 15. Paid Tsofa Enterprise on account for purchase of 5 December, less return of December 7 and discount. 16. Received cash on account from sale of 6 December to Melati Wholesale, less discount. 19. Sold merchandise on MasterCard, RM49,500. The cost of the merchandise sold was RM23,700. 22. Sold marchandise on 210, n30. The cost of the merchandise sold was R16,700. account to Furniture Resources, RM15,300, terms 23 Sold merchandise for cash, RNI27,680. The cost of the merchandise sold as RM12 100. 28 Raceived merchandise returned by Furniture Rasources from sale of 22 December, RNI3.000 The cost of the returned merchandise was RM1.400. 31 Paid MasterCard service fee of RM1.050. REQUIRED onaenaliea the Manaaetioni

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Styles Edit 2.131 4.15.1* 6.7.181 91 10. I 11 1 12.1 131 141 15 I PART (B): The following were selected from among the transactions completed by Fulah Design during December of the current year. Dec 3. Purchased merchandise on account from Jati Enterprise, list price RM22,000, trade discount 25%, term FOB shipping point, 2/10, n30, with prepaid transportation cost of RM660 added to the invoice. 5. Purchased merchandise on account from Ts ofa Enterprise, RM20,250, terms FOB destination, 2/10, n30. 6. Sold merchandise on account to Melati Wholesale, list price RM1 8,000, trade discount 35%, terms 2/10, n30. The cost of merchandise sold was RMS,250. 7. Returned RM2,800 of merchandise purchased on 5 December from Tsofa Enterprise. 13. Paid Jati Enterprise on account for purchase of 3 December, less discount. 15. Paid Tsofa Enterprise on account for purchase of 5 December, less return of December 7 and discount. 16. Received cash on account from sale of 6 December to Melati Wholes ale, less discount. 19. Sold merchandise on MasterCard, RM49.500. The cost of the merchandise sold was RM23,700. 22. Sold merchandise on account to Furniture Resources, RM15,300, terms 2 10, n30. The cost of the merchandise sold vas R16,700. 23. Sold merchandise for cash. RM2 680. The cost of the merchandise sold RMI2 100 2S Received merekandise returned by Furniture Resources from sale of 22 Dacember RNI3 000 The cost of the returned merchandise was RM1.400. A Paid MasterCard service fes of RM1.050. REQUIRED Towrnaliea the 1ranaaotioni
Transcribed Image Text:Styles Edit 2.131 4.15.1* 6.7.181 91 10. I 11 1 12.1 131 141 15 I PART (B): The following were selected from among the transactions completed by Fulah Design during December of the current year. Dec 3. Purchased merchandise on account from Jati Enterprise, list price RM22,000, trade discount 25%, term FOB shipping point, 2/10, n30, with prepaid transportation cost of RM660 added to the invoice. 5. Purchased merchandise on account from Ts ofa Enterprise, RM20,250, terms FOB destination, 2/10, n30. 6. Sold merchandise on account to Melati Wholesale, list price RM1 8,000, trade discount 35%, terms 2/10, n30. The cost of merchandise sold was RMS,250. 7. Returned RM2,800 of merchandise purchased on 5 December from Tsofa Enterprise. 13. Paid Jati Enterprise on account for purchase of 3 December, less discount. 15. Paid Tsofa Enterprise on account for purchase of 5 December, less return of December 7 and discount. 16. Received cash on account from sale of 6 December to Melati Wholes ale, less discount. 19. Sold merchandise on MasterCard, RM49.500. The cost of the merchandise sold was RM23,700. 22. Sold merchandise on account to Furniture Resources, RM15,300, terms 2 10, n30. The cost of the merchandise sold vas R16,700. 23. Sold merchandise for cash. RM2 680. The cost of the merchandise sold RMI2 100 2S Received merekandise returned by Furniture Resources from sale of 22 Dacember RNI3 000 The cost of the returned merchandise was RM1.400. A Paid MasterCard service fes of RM1.050. REQUIRED Towrnaliea the 1ranaaotioni
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
Knowledge Booster
Accounting for discounts
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS