Appendix C - APPENDIX C Ex. C1 a.

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Unformatted text preview: APPENDIX C Ex. C1 a. Purchases........................................................................ 12,000 Accounts PayableYellowstone Co....................... 12,000 b. Accounts PayableYellowstone Co............................ 2,500 Purchases Returns and Allowances....................... 2,500 c. Accounts PayableYellowstone Co............................ 9,500 Purchases Discounts................................................ 190 Cash............................................................................ 9,310 d. Purchases........................................................................ 9,000 Accounts PayableGlacier, Inc.............................. 9,000 e. Accounts PayableGlacier, Inc.................................... 9,000 Purchases Discounts................................................ 90 Cash............................................................................ 8,910 Ex. C2 July 6 Accounts Receivable........................................... 18,500 Sales.................................................................. 18,500 6 Accounts Receivable........................................... 420 Cash................................................................... 420 9 Sales Returns and Allowances........................... 4,700 Accounts Receivable....................................... 4,700 16 Cash....................................................................... 13,944 Sales Discounts.................................................... 276 Accounts Receivable....................................... 14,220 Ex. C3 Income Summary................................................................... 475,000 Merchandise Inventory................................................... 475,000 Merchandise Inventory.......................................................... 528,300 Income Summary............................................................ 528,300 57 57 Ex. C4 a. Sales returns and allowances, sales discounts b. Purchases returns and allowances, purchases discounts c. Transportation in d. Merchandise available for sale e. Merchandise inventory (ending) f. Gross profit g. Income from operations h. Selling expenses, administrative expenses i. Other income, other expense 58 58 Ex. C5 CANYON FERRYStores COMPANY Income Statement For the Year Ended December 31, 2006 Revenue from sales: Sales............................................. $1,288,000 Less: Sales returns and allowances..................... $ 13,920 Sales discounts............... 10,400 24,320 Net sales...................................... $1,263,680 Cost of merchandise sold: Merchandise inventory, January 1, 2006..................... $ 85,760 Purchases.................................... $1,051,200 Less: Purchases returns and allowances..................... $24,800 Purchases discounts...... 12,800 37,600 Net purchases............................. $1,013,600 Add transportation in................. 36,000 Cost of merchandise...
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This note was uploaded on 09/16/2009 for the course ACCOUNTING 0806345341 taught by Professor Xxx during the Spring '09 term at Indonesian Computer University.

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Appendix C - APPENDIX C Ex. C1 a.

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