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- PA2. LO 6.1 Record journal entries for the following transactions of Barrera Suppliers. A. May 12: Sold 32 deluxe hammers at $195 each to a customer, credit terms 10/10, n/45, invoice date May 12; the deluxe hammers cost Barrera Suppliers $88 each. B. May 15: Customer returned 6 hammers for a full refund. The merchandise was in sellable condition at the original cost.Product Price per Unit $400 Desktop computer Tablet computer Landline telephone 4-in-1 desktop printer 60 60 100 Date Transactions 2018 California Business Solution purchases 10 electronic hardware packages at a cost of $620 each by paying cash April 1 April 7 CBS purchases 30 desktop computers on credit at a cost of $400 each. The credit terms are n/15 with an invoice date of April 7. April 17 CBS makes full payment on the amount due from the April7 purchase May 1 CBS purchases 67 tablet computers at a cost of $60 each on credit. The payment terms are 5/10, n/30, and the invoice is dated May 1. May 10 CBS pays their account in full. June CBS purchased 300 landline telephones with cash at a cost of $60 each. On June 3. CBS discovers that 25 of the phones are the wrong color and returns the phones to the manufacturer for a full refund,, June 8 CBS discovers that 60 more phones from the June 1 purchase are slightly damaged. CBS decides to keep the phones but receives a purchase allowance…Please do not give image format
- C3.3Crane Corporation budgeted 10,300 tablet cases for production during the current year. Crane has capacity to produce 12,360 units. Fixed factory overhead is allocated to production. The following estimated costs have been provided: Direct material ($8/unit) Direct labor ($15/hr. x 2 hrs./unit) Variable manufacturing overhead ($3/unit) Fixed factory overhead costs ($5/unit) Total Cost per unit = $46 ($473,800 + 10,300) $82,400 309,000 30,900 51,500 $473,800 Answer each of the following independent questions:Answer the following question(s) using the information below: Five Appliances Store sells a refrigerator and a freezer as a single package for $1,000. Other data are in the chart below. Selling price Manufacturing cost per unit Stand-alone product revenues Refrigerator Full-size Freezer $825 $620 O a. $620.00 O b. $687.50 O c. $500.00 O d. $775.00 e. $612.50 $1,225,000 $375 $180 $775,000 Packaged Price $1,000 Using the stand-alone method with manufacturing cost per unit as the weight for revenue allocation, what amount will be allocated to the refrigerator?
- Use these to fill in the general journal. • July 1 Credit granted to customer Elizabeth Edwards for returned merchandise, $198.00 plus sales tax $13.86 for total of $211.86. Credit m - July 4 Credit granted to customer Eastside Hospital for damaged merchandise, $1,118.02 (no sales tax). Credit memo #4. - July 7 Credit granted to customer Chevy Chase for returned merchandise, $592.06 plus sales tax $41.44 for total of $633.50. Credit memo # - July 9 Credit granted to customer Wolf Blitzer for returned merchandise, $377.19 plus sales tax $26.40 for total of $403.59. Credit memo #6 Also answer these questions please. 1) What is the difference between a debit memorandum and a credit memorandum? 2) What is the difference between a sales discount, a sales return and a sales allowance? 3) Explain the function of the sales journal and the cash receipts journal.saco question is attached in ss below thanks for help aprepacited it 4t4i1g1jmhioh1 h1moih t1ho 1imSolution ONLY (D) and (E) part (Last 2 parts) Mr. Assad a Wholesaler buys a product from the Al Mazoon manufacturing company at RO 700 and pays VAT at the prescribed rate of 10%. a retailer buys a product from the wholesaler at RO 800 and the wholesaler charges VAT at the prescribed rate of 10%. The retailer fixes the price at RO 1000 and charges VAT at the same rate. Mr. Yousuf buys the product from the ABC LLC. What is the price including VAT that Mr. Yousuf has to pay to buy the Product? What is input tax and output tax? Discuss Amount of output tax for the retailer and wholesaler. How much VAT does the retailer pay to the government? VAT is different from sales tax system. Explain and give reason to your answer
- 2. DETAILS BRECMBC9 18.L.015.MI. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Mike purchases a bicycle costing $178.70. State taxes are 5% and local sales taxes are 3%. The store charges s20 for assembly. What is the total purchase price (in $)? (Round your answer to the nearest cent.) Need Help? Read Wh Master Submit AnsweMar 31, 2022 Mrs. Santos visited the Royes Luggage Inc. store yesterday and discussed the problems (conditions of goods received) with their manager. Mrs. Santos and the manager agreed that there is a problem with the goods. Mrs. Santos will give a Sales price allowance for the goods on invoice # 2212, in the amount of $100.00, plus HST. Mrs. Santos received Royes Luggage Inc.'s cheque # 496 in the amount of $904.00 as payment for this invoice, less the allowance. There are no discount terms on this allowance as it is more than 10 days from the purchase date. 1. Record the allowance. 2. Record the cheque received.XYZ Bakery bakes breads that are sold to local restaurants and grocery stores in Muscat. When 300 breads are baked, the average cost is $1.25 per bread. When 900 breads are baked, the average cost is $0.65 per bread. What is the total cost when 450 breads are baked? Select one: a. $292.50 b. $445.00 c. None of the answers given d. $562.50 e. $427.50