HORNGREN'S M&F ACCT LL/W TCC CODE >IC<
HORNGREN'S M&F ACCT LL/W TCC CODE >IC<
6th Edition
ISBN: 9781323791950
Author: MILLER-NOBLES
Publisher: PEARSON
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Chapter B, Problem B.28BP

Requirement 1:

To determine

Purchase journal, Cash payments journal, and General journal

Purchase Journal:  It is a special book where only purchase transactions that are purchased from suppliers on credit are recorded.

Cash payments journal: Cash payment journal is a form of special journal book, which records the cash payments transactions, which are being paid to suppliers or other sources.

General Journal: It is a book where all the monetary transactions are recorded in the form of journal entries on the date of their occurrence in a chronological order.

To Record: The transactions in a purchases journal, cash payment journal and in a general journal.

Requirement 2:

To determine

The totals of each column of the special journal.

Requirement 3:

To determine

To show: How posting would be made by writing the accounts numbers and check marks in the journals.

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Cooper Audio Systems produces car sound systems. Estimated sales (in units) are 45,000 in April, 38,000 in May, and 36,500 in June. Each unit is priced at $75. Cooper wants to have 40% of the following month's sales in ending inventory. That requirement was met on April 1. Each sound system requires 4 speakers and 10 feet of wiring. Speakers cost $6 each, and wiring is $0.50 per foot. Cooper wants to have 25% of the following month's production needs in ending raw materials inventory. On April 1, Cooper had 30,000 speakers and 95,000 feet of wire in inventory. What is Cooper's expected sales revenue for May?
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Chapter B Solutions

HORNGREN'S M&F ACCT LL/W TCC CODE >IC<

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