TB Problem 7-199 (Algo) Bonnie Denim Company sells blue jeans.... Bonnie Denim Company sells blue jeans. Last year, skinny jeans were fashionable; this year, relaxed-fit jeans are in style. The company has 605 units of skinny jeans with a cost of $28 per unit and a market value of $26 per unit. The inventory also includes 1,230 units of relaxed-fit jeans with a cost of $28 per unit and a market value of $30 per unit. Required: Prepare the journal entry, if any, that is required to adjust the Inventory account. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

TB Problem 7-199 (Algo) Bonnie Denim Company sells blue jeans.... Bonnie Denim Company sells blue jeans. Last year, skinny jeans were fashionable; this year, relaxed-fit jeans are in style. The company has 605 units of skinny jeans with a cost of $28 per unit and a market value of $26 per unit. The inventory also includes 1,230 units of relaxed-fit jeans with a cost of $28 per unit and a market value of $30 per unit. Required: Prepare the journal entry, if any, that is required to adjust the Inventory account. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Oo.8. Subject :- Account
So What sells a variety of merchandise, including school sandals for girls. The business began the last quarter of 2013 with 30 pairs of the “Solar” brand at a total cost of $54,000. The following transactions, relating to the “Solar” brand were completed during the quarter: October 3 Purchased 45 pairs of sandals at a cost of $1,900 each. October 15 Sold 55 pairs to Casually Elegant Ltd at a unit price of $2,780 October 26 Purchased 70 pairs at a cost of $2,400 each but these were subject to a trade discount of 5%. November 10 Sold 60 pairs to Best City Store which yielded total sales revenue of $192,000. November 14 Owing to an increased demand for this brand, the manager of So What purchased 80 additional pairs of the “Solar” brand at a unit cost of $2,500, but additionally there was freight charge of $100 on each pair. November 24 Sold 60 pairs of sand to Big Buy Company at a price of $3,600 each. November 30 A physical…
1-The annual demand for Samsung mobiles is 60,000. The cost to place an order is RO 200. The cost of purchase of mobile is RO 4.800 and the carrying cost is 20% of cost. Calculate the number of orders per year. 2-E-Max sold 40 laptops during November and their purchases are given below. Calculate the cost of goods sold by E-Max using average cost method. Purchases No of Laptops Cost/Unit November 10 13 80 November 18 25 100 November 27 30 120 a. 2940 RO b. 4600 RO c. 4200 RO d. 3780 RO
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answer to number B. only please
The Bookstall Inc. is a specialty bookstore concentrating on used books sold via the Internet. Paperbacks are $1.55 each, and hardcover books are $4.35. Of the 80 books sold last Tuesday morning, 70 were paperback and the rest were hardcover. What was the weighted mean price of a book?
Bonnie Denim Company sells blue jeans. Last year, skinny jeans were fashionable; this year, relaxed-fit jeans are in style. The company has 585 units of skinny jeans with a cost of $28 per unit and a market value of $26 per unit. The inventory also includes 1,210 units of relaxed-fit jeans with a cost of $26 per unit and a market value of $30 per unit. Required:Prepare the journal entry, if any, that is required to adjust the Inventory account. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Diapers.com is an online specialty retailer for baby products (including diapers) that specialized in delivering consumables, such as diapers, wipes, and formula. Diapers.com was selling a pack of Pampers for $18 on its website, while same pack was acquired from P&G for $9. The % margin (percent of Diapers' selling price) is equal to A. $9 B. 100% C. 50% D. $18
Subject: acounting
Kaizen Furniture has the following information in respect to coffee tables for 2011: Production specifications: Beginning Target Ending Inventory Inventory Direct Materials: Particle board 20,000 b.f. 18,000 b.f. Red oak 25,000 b.f. 22,000 b.f. Finished goods Coffee tables 5,000 units 3,000 units Revenue expected for 2011 are: Selling price $392 per table Units sold 52,000 coffee tables Each coffee table requires 9.00 b.f. of particle board and 10.00 b.f. of red oak. Costs expected for 2011 include: 2010 2011 Particle board (per b.f.) $ 3.90 $ 4.00 Red oak (per b.f.) $ 5.80 $ 6.00 Laminating labor (per hour) $24.00 $25.00 Machining labor (per hour) $29.00 $30.00 Prepare the following budgets for 2011: a. Revenues Budget b. Production Budget (in units) c. Direct Materials Usage Budget