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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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