Loose Leaf for Fundamental Accounting Principles
23rd Edition
ISBN: 9781259687709
Author: John J Wild, Ken Shaw Accounting Professor, Barbara Chiappetta Fundamental Accounting Principles
Publisher: McGraw-Hill Education
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Chapter 3, Problem 12E
To determine
Concept Introduction: The transactions in accounting are recorded in the journal entries form. Journal entries means recording of transactions in a journal in a chronological order. These include the impacted ledgers and the amount. Every
The entries required for closing and preparing of financials are known as
(a)
To prepare: The journal entries using the procedure of initially crediting the unearned fees account when payment is received from a customer in advance of performing services.
To determine
To prepare: The journal entries using the procedure of initially crediting the fees earned account when payment is received from a customer in advance of performing services.
To determine
The amount of earned fees reported on the income statement for July and the amount of unearned fees reported on the balance sheet as of July 31.
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The beginning inventory at Smith Co. and data on purchases and sales for a three-month period ending June 30 are...
Date
Transaction
Numberof Units
Per Unit
Total
Apr. 3
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48
$450
$21,600
8
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96
540
51,840
11
Sale
64
1,500
96,000
30
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May 8
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80
600
48,000
10
Sale
48
1,500
72,000
19
Sale
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36,000
28
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80
660
52,800
June 5
Sale
48
1,575
75,600
16
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64
1,575
100,800
21
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144
720
103,680
28
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113,400
Record inventory, purchases, cost of merchandise sold data in perpetual invetory record similar to the one illutrated in exhibit 3 using FIFO. Under FIFO if units at two different costs eneter the units with the lower unit cost first in the cost of goods sold unit cost column and in the inventory unit cost column.
Chapter 3 Solutions
Loose Leaf for Fundamental Accounting Principles
Ch. 3 - Prob. 1DQCh. 3 - Prob. 2DQCh. 3 - Prob. 3DQCh. 3 - Prob. 4DQCh. 3 - Prob. 5DQCh. 3 - Prob. 6DQCh. 3 - What is an accrued revenue? Give an example..Ch. 3 - Prob. 8DQCh. 3 - Prob. 9DQCh. 3 - Prob. 10DQ
Ch. 3 - Prob. 11DQCh. 3 - Prob. 12DQCh. 3 - Prob. 1QSCh. 3 - Prob. 2QSCh. 3 - Prob. 3QSCh. 3 - Prob. 4QSCh. 3 - Prob. 5QSCh. 3 - Prob. 6QSCh. 3 - Prob. 7QSCh. 3 - Prob. 8QSCh. 3 - Prob. 9QSCh. 3 - Prob. 10QSCh. 3 - Prob. 11QSCh. 3 - Prob. 12QSCh. 3 - Prob. 13QSCh. 3 - Prob. 14QSCh. 3 - Prob. 15QSCh. 3 - Prob. 16QSCh. 3 - Prob. 17QSCh. 3 - Prob. 18QSCh. 3 - Prob. 19QSCh. 3 - Prob. 20QSCh. 3 - Prob. 21QSCh. 3 - Prob. 1ECh. 3 - Prob. 2ECh. 3 - Prob. 3ECh. 3 - Prob. 4ECh. 3 - Prob. 5ECh. 3 - Prob. 6ECh. 3 - Prob. 7ECh. 3 - Prob. 8ECh. 3 - Prob. 9ECh. 3 - Prob. 10ECh. 3 - Prob. 11ECh. 3 - Prob. 12ECh. 3 - Prob. 13ECh. 3 - Problem 3-1A Identifying adjusting entries with...Ch. 3 - Prob. 2APSACh. 3 - Prob. 3APSACh. 3 - Problem 3.4* Interpreting unadjusted and adjusted...Ch. 3 - Problem 3-5A Preparing financial statements from...Ch. 3 - Problem 3-6A Recording prepaid expenses and...Ch. 3 - Prob. 1BPSBCh. 3 - Prob. 2BPSBCh. 3 - Prob. 3BPSBCh. 3 - Prob. 4BPSBCh. 3 - Prob. 5BPSBCh. 3 - Prob. 6BPSBCh. 3 - Prob. 3SPCh. 3 - Prob. 1GLPCh. 3 - Prob. 2GLPCh. 3 - Prob. 3GLPCh. 3 - Prob. 4GLPCh. 3 - Prob. 5GLPCh. 3 - Prob. 1BTNCh. 3 - Prob. 2BTNCh. 3 - Prob. 3BTNCh. 3 - Prob. 4BTNCh. 3 - Access EDGAR online (SEC.gov) and locate the 10-K...Ch. 3 - Prob. 6BTNCh. 3 - Prob. 7BTNCh. 3 - Prob. 8BTNCh. 3 - Prob. 9BTN
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