Chapter 4 Accounting Homework

# Chapter 4 Accounting Homework - 12 Case X Case Y Case Z...

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1 Debit Credit Apr. 2 Merchandise Inventory \$5,900.00 Cash \$5,900.00 Apr. 3 Merchandise Inventory \$330.00 Cash \$330.00 Apr. 4 Account Payable \$900.00 Merchandise Inventory \$900.00 return Apr. 17 Account Payable \$5,000.00 Merchandise Inventory \$100.00 Cash \$4,900.00 Apr. 18 Merchandise Inventory \$12,250.00 Cash \$12,250.00 Apr. 21 Account Payable \$3,430.00 Merchandise Inventory \$3,430.00 Apr. 28 Merchandise Inventory \$8,820.00 Cash \$8,643.60 8 a b Sales \$82,800.00 \$58,622.00 Cost of goods sold Merchandise inventory (beginning) \$7,866.00 \$3,507.00 Total cost of merchandise purchases \$35,439.00 \$22,139.00 Merchandise inventory (ending) \$(8,355.00) \$(3,714.00) Cost of goods sold \$34,950.00 \$21,932.00 Gross profit \$47,850.00 \$36,690.00 Expenses \$9,000.00 \$10,650.00 Net Income (loss) \$38,850.00 \$26,040.00

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Unformatted text preview: 12 Case X Case Y Case Z Cash \$920.00 \$1,046.00 \$1,220.00 Short-term investments \$- \$- \$500.00 Current receivables \$- \$1,126.00 \$890.00 Inventory \$2,300.00 \$1,136.00 \$4,600.00 Prepaid expenses \$1,200.00 \$679.00 \$900.00 Total Current Assets \$4,420.00 \$3,987.00 \$8,110.00 Current Liabilities \$2,563.00 \$1,281.00 \$4,254.00 Current Ratio 1.72 3.11 1.91 Acid-test Ratio 0.36 0.90 0.61 Eric Han Chapter 4 Accounting Homework Oct. 8, 2009 8820*.02 = 176.4 c d e \$50,094.00 \$107,640.00 \$32,540.00 \$10,519.00 \$9,902.00 \$3,351.00 \$46,988.00 \$45,252.00 \$7,439.00 \$(12,019.00) \$(9,527.00) \$(2,431.00) \$45,488.00 \$45,627.00 \$8,359.00 \$4,606.00 \$62,013.00 \$24,181.00 \$14,923.00 \$32,600.00 \$6,100.00 \$(10,317.00) \$29,413.00 \$18,081.00...
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## This note was uploaded on 02/20/2010 for the course BA 211 taught by Professor Culver during the Fall '08 term at Lane Community College.

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Chapter 4 Accounting Homework - 12 Case X Case Y Case Z...

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