Upton Computers Pro forma balance sheet December 21, 2020 (Millions of d Particulars Calculation Amount Assets: Cash 4.235 A 3.5*1.21 Receivables 26*1.21 31.46
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where does the 1.21 come from for the calculations for part c of the current homework.
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- 340 | Basic Financial Accounting and Reporting 2021 Edition by Prof. WIN Ballada NAME: SCORE: NAME: SECTION: PROFESSOR: SECTION: Problem #8 Problem #10 Purchase Transa Purchase Transactions Several purchase transactions of the Joey Beringuela Pharmacy are presented below. The credit terms of the entity are 3/10, n/30. Using T-accour Allowances, Pu transactions. Oct. 6 Purchased merchandise for cash, P200,000; FOB shipping point. 12 Purchased merchandise on account, P700,000. 15 Returned merchandise purchased on account, P50,000, 1. Purcha Paid supplier the amount due. Paid freight charges of P7,000 on merchandise acquired last Oct. 6. а. М b. N 17 19 2. Purch Required: a. Prepare the journal entries. b. C.dbm 105 fund x DBM 105.pdf Home Question Z Not yet answered tps://eclass.uonbi.ac.ke/mod/quiz/attempt.php?attempt=876769&cmid=38254&page=1 Marked out of 10.00 Flag question IO X Events Dashboard My Courses This course Joe Durango prepared the following trial balance from the accounting records of his firm, Dango Traders. TAKE AWAY CAT DUE SUNDAY 3 X Sales Sales Returns and Allowances - Durango Traders Trial Balance As at 31.7.2019 Purchases Purchases Returns and Allowances Freight-in Advertisement Salaries Administrative Expenses Stationery and Printing Office Equipment at Cost Accumulated Depreciation: Office Equipment Capital: J.Durango 1/8/2018 Drawings: J.Durango Cash Trade Debtors Trading Inventory 1/8/2018 Prepaid Insurance Dr.(Kshs) Cr.(Kshs) 675,000 2,250 436,500 11,700 2,250 52,200 3.150 4.050 27,000 45,000 78,235 10,350 70,650 1,620 3,150 10,125 49.480 CAT-LDP 109: FUNDAMENTALS x + X hp WGiven the following data; TOTAL PURCHASES OMR 150000 CASH PURCHASES OMR 45000 PURCHASE RETURN OMR 5000 OPENING CREDITORS OMR 30000 CLOSING CREDITORS OMR 20000 What will be the amount of Net Credit Purchase? a. OMR 100000 O b. OMR 150000 O c. OMR 45000 O d. OMR 105000
- 21) April 4, 2020 Smith and West, who uses the periodic inventory system, purchased 1000 widgets from ABC company on account, at a cost of $5 each. HST is applied and they charged the goods, PI-26. Terms: 5/10 n/30. What would be the journal entry to record this transaction? 1. Debit - Purchases $5,000, HST Recoverable $650 </> Credit - Cash $5,650 2. Debit - Cash $5,650 </> Credit - Purchases $5,000, HST Recoverable $650 3. Debit - Purchases $5,000, HST Recoverable $650 </> Credit - A/P - ABC Company $5,650 4. Debit - Purchases $5,000, HST Recoverable $650 </> Credit - A/P - Smith and Jones $5,650g In | Federa x M UMassD Logor X EQuickLaunch -x K myCourses Da: x Univ of Mass - X * Cengage Die education.com mework i Saved View transaction list Journal entry worksheet 1 4 6 7 8 9. 10 cearch 近View History Bookmarks Window Help Fri Apr 9 6:16 PM edugen.wileyplus.com Weygandt, Accounting Principles, 13th Edition, Custom WileyPLUS Course for Bronx Community College Help | System Announcements CALCULATOR PRINTER VERSION BACK NEXT Exercise 7-04 a-d (Part Level Submission) Crane Company has a balance in its Accounts Receivable control account of $11,300 on January 1, 2020. The subsidiary ledger contains three accounts: Bixler Company, balance $4,500; Cuddyer Company, balance $2,100; and Freeze Company. During January, the following receivable-related transactions occurred. Credit Sales Collections Returns Bixler Company $9,500 $7,700 $ 0 Cuddyer Company 7,300 2,600 3,300 Freeze Company 9,000 9,000 (a) What is the January 1 balance in the Freeze Company subsidiary account? Balance in the Freeze Company subsidiary account $4 Click if you would like to Show Work for this question: Open Show Work S SAVE FOR LATER Attempts: 0 of 4 used (b) The parts of this question must be completed…
- Use the following data to prepare card store by using Fifo method: 1-1/6 The balance ( 3000 ) unit in price ( 1000 )D. To unit. 2-2/7 Purchase ( 5000 Junit in price ( 2000 )D. To unit. 3-7/8 Expend ( 4000 Junit to the production. 4-11/9 purchase ( 3000 Junit in price ( 1500 )D. To unit . 5-14/9 Expend ( 4000 Junit to the production. 6-17/10 Purchase ( 4000 ) unit in price ( 2000 )D. To unit. 7-21/10 Expend ( 2000 ) unit to the production. 8-20/11 Purchase ( 3000 ) unit in price ( 1500 )D. To unit. 9-26/11 Purchase ( 6000 ) unit in price ( 2000 )D. To unit 10- 30/11 Expend ( 8000 ) unit to the production .z/attempt.php?attempt278998&cmid-142434 Shahad en) - Question 4 From the following information, calculate Net Profit. Not yet Details Debit (RO) Credit (RO) answered Marked out of 2 Salary 6500 P Flag question Rent 14200 Interest Payable 750 Stationery 870 IInsurance 1850 Dividend 900 Net sales 207000 Cost of the goods sold 165000 Additional information: Closing Stock OR 8700 Select one: O a. RO 19480 O b. RO 10030 O c. RO 10780 O d. RO 20230 hp! Required information Exercise 8-19 (Algo) Complete the accounting cycle (LO8-1, 8-2, 8-4, 8-6) [The following information applies to the questions displayed below.) On January 1, 2024, the general ledger of ACME Fireworks includes the following account balances: Accounts Cash Debit $26,000 Credit Accounts Receivable 48,000 Allowance for Uncollectible Accounts $5,100 Inventory 20,900 Land 55,000 Equipment 19,500 Accumulated Depreciation 2,400 Accounts Payable 29,400 Notes Payable (6%, due April 1, 2025) 59,000 Common Stock 44,000 Retained Earnings 29,500 Totals $169,400 $169,400 During January 2024, the following transactions occur: January 2 Sold gift cards totaling $9,800. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $156,000. ACME uses the perpetual inventory system. January 15 Firework sales for the first half of the month total $144,000. All of these sales are on account. The cost of the units…
- Please help to answer below question: Q1: Prepare journal entries to record the following transactions entered into by the Castagno Company: 2022 Nov.1Sold merchandise on account to Mercer, Inc., for $18,000, terms 2/10, n/30. Nov.5Mercer, Inc., returned merchandise worth $1,000. Nov.9Received payment in full from Mercer, Inc. br,Based on this financial data, calculate the Savings Ratio. $7470 Net Worth Liquid Assets $ 4610 Monthly Credit Payments $720 Monthly Savings $ 640 Gross Income Make sure to include zeros and round your answer to 2 decimal places. i.e. 3.55, 1.89, 1.02, 0.09, etc. Do not include a comma or"$" sign in your response. Liabilities Current Liabilities Take-home Pay $ 77300 $2000 $ 3150 $ 4890YE3tcuBfirwShOSzu2prZ7nd44k0L-w/formResponse?pli=1 e following to answer the five questions below: owing accounts are extracted from the worksheet of X Company on ber 31, 2020 Sales Retums and Allowances S 410,000 Sales Discount 140,000 Sales 1,500,000 Salaries Expenses - Sales 52,000 Rent Revenue 22,000 Purchases Retums and Allowances 120,000 Purchases 600,000 Loss from write down of Inventory 17,000 Inventory, January 1, 2020 460,000 Interest Expense A 55,000 Gain from Sale of Building 23,000 Freight-out 14,000 Freight-in 30,000 Depreciation Expense - Sales 22,000 Cost of Goods Sold 600,000 n the data above, the inventory account sho ed a holon
