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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