023M2.answer

023M2.answer - Midterm 2 Answer Document: Fall 2002 BUAD...

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Midterm 2 Answer Document: Fall 2002 BUAD 250a VERSION A [023M2answers] 1a Year 1 Year 2 APurchase 50,000 AP 50,000 A(+) 50,000 AP 50,000 Purchase 50,000 B(-) 12,000 BAR 20,000 Sales 20,000 CAs is Sales 20,000 AR 20,000 D(+) 35,000 CSales 70,000 AR 70,000 AR 70,000 Sales 70,000 DPurchase 35,000 AP 35,000 AP 35,000 Purchase 35,000 2a 1. 12,600 2. 5,600 3. 7.78 4. (60) 5. 65 6. 160 7. 0 8. 0 9. 570,000 10. 360,000 3a Percentage of Sales Method: BDE for Year 1: 204 CV of AR at end of Year 2: 1,898 Aging Method: BDE for Year 1: 320 CV of AR at end of Year 2: 1,790 AUA balance at end of Year 3: 250 4a FIFO periodic ending inventory: 994 LIFO perpetual CGS: 1,231 LIFO periodic GM: 2,122 5a GM for Year 1: 55 CGS for Year 2: 60 GM for Year 3: 70
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VERSION B 1b Year 1 Year 2 AAR 30,000 Sales 30,000 A(-) 21,000 Sales 30,000 AR 30,000 BAs is BSales 80,000 AR 80,000 C(+) 45,000 AR 80,000 Sales 80,000 D(+) 40,000 CPurchase 45,000 AP 45,000 AP 45,000 Purchase 45,000 DPurchase 40,000 AP 40,000 AP 40,000 Purchase
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023M2.answer - Midterm 2 Answer Document: Fall 2002 BUAD...

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