Bundle: College Accounting, Chapters 1-27, Loose-Leaf Version, 22nd + CengageNOWv2, 2 terms Printed Access Card
22nd Edition
ISBN: 9781305930421
Author: James A. Heintz, Robert W. Parry
Publisher: Cengage Learning
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Chapter 15, Problem 5CE
To determine
Prepare closing entries for Company YCS.
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3. Itco uses a perpetual inventory system. During the month of October the
following transactions took place:
10/1
10/5
10/10
10/12
10/15
10/22
A.
UTS
Balance: 2,000 uts. @ $6.00/ut
Purchased: 5,000 uts. @ $6.35/ut
Purchased: 8,000 uts. @ $6.50/ut
Sold 12,000 uts. for $10.00 ea.
Purchased: 4,000 uts. @ $6.75/ut
Sold 5,000 uts. for $10.00 ea.
I
Complete the perpetual inventory record (provided) for
the above transactions using the FIFO valuation system.
COST TOT
UTS
COST
TOT
UTS
COST
TOT
i need augest 22 entry
Accounting Question
Chapter 15 Solutions
Bundle: College Accounting, Chapters 1-27, Loose-Leaf Version, 22nd + CengageNOWv2, 2 terms Printed Access Card
Ch. 15 - LO1 A multiple-step form of income statement...Ch. 15 - Prob. 2TFCh. 15 - Prob. 3TFCh. 15 - Prob. 4TFCh. 15 - LO4 Accounts receivable turnover is the number of...Ch. 15 - Prob. 1MCCh. 15 - Prob. 2MCCh. 15 - Prob. 3MCCh. 15 - Prob. 4MCCh. 15 - Prob. 5MC
Ch. 15 - Prob. 1CECh. 15 - Prob. 2CECh. 15 - 1. L01 Prepare a multiple-step income statement...Ch. 15 - Prob. 4CECh. 15 - Prob. 5CECh. 15 - Prob. 6CECh. 15 - Prob. 1RQCh. 15 - Prob. 2RQCh. 15 - Describe how to calculate the following ratios (a)...Ch. 15 - Where is the information obtained that is needed...Ch. 15 - Explain the function of each of the four closing...Ch. 15 - What is the purpose of a post-closing trial...Ch. 15 - What is the primary purpose of reversing entries?Ch. 15 - What is the customary date for reversing entries?Ch. 15 - What adjusting entries should be reversed?Ch. 15 - REVENUE SECTION. MULTIPLE-STEP INCOME STATEMENT...Ch. 15 - COST OF GOODS SOLD SECTION, MULTIPLE-STEP INCOME...Ch. 15 - MULTIPLE-STEP INCOME STATEMENT Use the following...Ch. 15 - FINANCIAL RATIOS Based on the financial statements...Ch. 15 - CLOSING ENTRIES From the work sheet on page 600,...Ch. 15 - REVERSING ENTRIES From the work sheet used in...Ch. 15 - Prob. 7SEACh. 15 - INCOME STATEMENT. STATEMENT OF OWNER S EQUITY, AND...Ch. 15 - FINANCIAL RATIOS Use the work sheet and financial...Ch. 15 - WORK SHEET, ADJUSTING, CLOSING, AND REVERSING...Ch. 15 - REVENUE SECTION, MULTIPLE-STEP INCOME STATEMENT...Ch. 15 - COST OF GOODS SOLD SECTION, MULTIPLE-STEP INCOME...Ch. 15 - MULTIPLE-STEP INCOME STATEMENT Use the following...Ch. 15 - FINANCIAL RATIOS Based on the financial...Ch. 15 - CLOSING ENTRIES From the work sheet on page 607...Ch. 15 - Prob. 6SEBCh. 15 - ADJUSTING, CLOSING, AND REVERSING ENTRIES Prepare...Ch. 15 - INCOME STATEMENT, STATEMENT OF OWNERS EQUITY, AND...Ch. 15 - FINANCIAL RATIOS Use the work sheet and financial...Ch. 15 - Prob. 10SPBCh. 15 - Prob. 1MYWCh. 15 - Dominique Fouque owns and operates Dominiques Doll...Ch. 15 - Prob. 1CP
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- Document1 - Word e Search Jasmine Thompson | Draw Design Layout References Mailings Review View Help B Share Cor A A Aa A EE - E EE A T O Find - alibri (Body) AaBbCcDd AaBbCcDd AaBbC AABBCCC AaB AaBbCcD AaBbCcDd AaBbCcDd Replace IU ab x, x' A A - 三 這、 、日田 1 Normal 1 No Spac. Heading 1 Heading 2 Title Subtitle Subtle Em. Emphasis Dictate E A Select Font Paragraph Styles Editing Voice 2 3 e. net income is understated 19. Assume a beginning inventory of $32,000, ending inventory of $51,000, and purchases of $135,000. If the gross margin percent is 60%, how much is net sales revenue? a. $46,400 b. $116,000 c. $193,333 d. $135,000 e. $290,000 20. If Accounts Payable has debit postings of $25,000, credit postings of $18,000, and a nLandimahalanaaof ĆE O00 whatw.na ite hai %24 D. Focus sh (United States) ENG %23 US ch 0日 @arrow_forwardJournal entries Based upon the T accounts in Exercise 2-13, prepare the nine journal entries from which the postings were made. Journal entry explanations may be omitted.arrow_forwardM Inbox - 2193565@slu.edu.ph - Sa x A Midterms Part 2 E 131 MIDTERMS PART 2 b My Questions | bartleby A docs.google.com/forms/d/e/1FAlpQLSe94FpCNY14R-JRUFCTTJ60E-Bht7bh1TeDti6nFO0x17GoQg/viewform?hr_submission=Chkl7fXk2cgBEhAlts6E7q4GEgcllbP3ntoDEAE On January 1, 20x1, Pete Electrical Shop received from Marion Trading 300 pieces of bread toasters. Pete was to sell these on consignment at 50% above original cost, for a 15% commission on the selling price. After selling 200 pieces, Pete had the remaining unsold units repaired for some electrical defects for which he spent P2,000. Marion subsequently increased the selling price of the remaining units to P330 per unit. On January 31, 20x1, Pete remitted P64,980 to Marion after deducting the 15% commission, P850 for delivery expenses of sold units, and P2,000 for the repair of 100 units. The consigned goods cost Marion Trading P200 per unit, and P900 had been paid to ship them to Pete Electrical Shop. All expenses in connection with the…arrow_forward
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