Problem -5.8 Jazz. Manufacturing's stores ledger shows receipts at basic rate $30 per unit and market rate $35. Units received 1,000. Record the amount of stores ledger adjustment.
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- 6.1. ABC Merchandising had the following transactions: 1. Purchased goods and made payment by cash in bank at S6,600. Freight-in was $220 (with VAT), paid by cash on hand. 2. Purchased materials on account for $7,350 (including 5% VAT) with credit terms 1/10, n/30 (if customer made payment within 10 days, they will received 1% discount) 3. Purchased tools on account for $4,400 (including 10% VAT). 4. Return a part of tools purchased in (3) for sales price with VAT of $2,200 5. Paid within the discount period for materials in (2). 6. Paid for tools in (3) by cash in bank. Requirement: Record transaction 6.2. Company pay VAT by the tax deduction method, accounting for inventories by perpetual inventory system, determination of price of inventories by FIFO method. Beginning balance: Acc 152: 10.000.000 VND (1000 units of A) Acc 153: 2.000.000 VND (100 units of T) During the period the following transactions occur: Requirement: Record transaction 1. Purchase 5.000 units of A on account,…a. Determine the activity rate of the sales order processing activity. $1 per sales order b. Determine the amount of sales order processing cost associated with 7,400 sales orders.Answer step by step
- Make sure it is transferrable to excel. Do it nicely. 1. Determine the following: a. Net Sales b. Net Purchases c. Cost of Goods Sold d. Bad Debts ExpenseThe following accounting records reveal: A/R, beg. P100,000 Iny, beg. P50,000 Purchases P90,000 Purchases Discount P5,000 Collections P200,000 How much is the vatable sales? a. P250,000 b. P240,000 How much is the output vat? a. P27, 600 b. P28,800 A/R, end Iny, end Sales Sales Return Cost of Sales. c. P230,000 c. P30,000 P110, 000 P60,000 P250,000 P10,000 P70,000 d. P24,000 d. P200,0007. Construct a P/L skeleton in $ using the following departmental figures. Use the grid provided below. Gross sales .$282,000 Customer returns/allowances... $32,000 Opening inventory (C). .$50,000 Closing inventory (CL. . $4,00 Purchases (C) . $80,000 Freight . $5,000 Cash discounts.. ..3% Returns to vendor.. .2% Alteration/workroom costs.. 1% Advertising . $17,000 Rent.. $15,000 Payrol. .$75,000 Utilities... $13,000
- Hh1. calculate net sales, cost of goods sold and gross profit from salesUse the following data to prepare card store by using Fifo method, Lifo method and av. cost : 1-1/6 The balance ( 30 ) unit in price ( 1000 )D. To unit. 2-2/7 Purchase ( 50 Junit in price (1100 )D. To unit . 3-7/8 Expend ( 40 Junit to the production. 4-11/9 purchase ( 35 )unit in price ( 1130 )D. To unit . 5-14/9 Expend ( 35 )unit to the production . 6-17/10 Purchase ( 25 ) unit in price (1135 )D. to unit.if a company billed its branch at 25% markup and sent goods at billed price 187500, the company recorded OA. credit inventory for 187500 OB. credit invetory 234375 O c. credit overvaluation 27500 OD. debit inventory 150,000
- chapter 3 3. Given the information below, what is the profit dollars? Round your answer to the dollar and add a dollar sign and comma separator (i.e. $15,467) Gross Sales $341,420 Customer Returns 29,870 Cost of Goods Sold 161,570 Expenses 138,140The following information is available for Rivers, Inc.: 12/31/20A2 12/31/20A1Cost of Goods Sold $ 900,000 $ 700,000Net Sales 1,500,000 1,000,000Accounts Receivable 180,000 200,000Allowance for Doubtful Accounts 30,000 40,000What was the accounts receivable turnover ratio for 20A2? Group of answer choices 8.33 9.68 7.89 5.81Customer returns and allowances for department #620 came to $5,500. Gross sales in the department were $95,000. What percentage of merchandise sold was returned? Write answer to two decimal places with the % symbol, example 6.23%
