Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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Chapter 4, Problem 5R
The following information is for Bonnieʼs Buds, a nursery and floral shop, for the month ended May 31, 2012:
Click the Chart sheet tab on the FMERCH3 file. You will see a chart depicting the five-month trend in sales, gross profit, and net income. What favorable and unfavorable trends do you see in this month-to-month comparison? Comment on any unusual changes. When the assignment is complete, close the file without saving it again.
Worksheet. Your boss would prefer to have the
Chart. Using the FMERCH3 file, prepare a 3-D pie chart that shows the amount of each of the selling expenses in June. No Chart Data Table is needed. Select A57 to A62 as one range on the worksheet to be charted and then hold down the CTRL key and select E57 to E62 as the second range. Enter your name somewhere on the chart. Save the file again as FMERCH3. Select the chart and then print it out.
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Giorgio is in the Sales by Customer Detail report. He wants to see the line items for Jones Company's transactions for the previous month in date order. How should Giorgio proceed?
Select an answer:
Go to Sort and then select Num.
Go to Display columns by and then select Month.
Go to Sort and then select Trans.
Journalize the following sales transactions for Lucy's Boutique. Explanations are not required. The company estimates sales returns at the end of each month. (Assume the company uses a perpetual inventory system and records sales at the net amount.)
(Click the icon to view the transactions.)
Mar. 3: Lucy sold $63,000 of women's clothes on account, credit terms are 3/10, n/30, to Maria's Dresses. Cost of goods is $35,000.
Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step.
Date
Accounts
Debit
Credit
Mar, 3
More Info
Now journalize the expense related to the March
sale-Cost of goods, $35,000.
Date
Accounts
Debit
Credit
Mar. 3
Lucy sold $63,000 of women's clothes on account, credit terms are 3/10, n/30, to
Maria's Dresses. Cost of goods is $35,000.
Mar. 3
Lucy granted a sales allowance of $100 for the clothes sold on March 3. Maria's
Dresses did not return the inventory.
Mar.…
Hi, I submitted this question earlier but received feedback that the attachment of the question I sent wasn't very clear so I'm trying again. I took the screen grab again as well have copied and pasted the question directly as well. It's asking to journalize the transactions. Hope this is better than the last time. Thanks!The following were selected from among the transactions completed by Babcock Company during November of the current year:Nov. 3 Purchased merchandise on account from Moonlight Co., list price $88,000, trade discount 20%, terms FOB destination, 2/10, n/30.4 Sold merchandise for cash, $41,250. The cost of the merchandise sold was $22,250.5 Purchased merchandise on account from Papoose Creek Co., $43,700, terms FOB shipping point, 2/10, n/30, with prepaid freight of $840 added to the invoice.6 Returned $13,600 ($17,000 list price less trade discount of 20%) of merchandise purchased on November 3 from Moonlight Co.8 Sold merchandise on account to Quinn Co., $16,100 with…
Chapter 4 Solutions
Excel Applications for Accounting Principles
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