Chapter 4 homework assignment

Chapter 4 homework - 50094 64681 32540 cost of goods sold 7866 3507 10519 9902 3351 merchandi se inventory(beginning total cost of merchandi se

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
BA211 Chapter 4 homework assignment Exercise 4-1 Transactions for a retail store April 2 Merchandise inventory 5900 Accounts payable 5900 Purchased merchandise, invoice dated April 2, term 2/10, n/60 April 3 Accounts payable 330 Cash 330 April 4 Return accounts payable 900 Cash 900 April 17 Account payable 5900 Merchandise inventory 118 Cash 5782 Paid for 5900 purchase of April 2 less the discount of 118 (2%* 5900) April 18 Merchandise inventory 12250 Accounts payable 12250 Purchased merchandise, invoice dated April 18, term 2/10, n/30 April 21 Accounts received 3430 Cash 3430 April 28 Account payable 12250 Merchandise inventory 245 Cash 12005 Paid for 12250 purchase of April 18 less the discount of 245 (2%* 12250) Exercise 4-8 a b c d e sales 82800 58622
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
Background image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 50094 64681 32540 cost of goods sold: 7866 3507 10519 9902 3351 merchandi se inventory (beginning ) total cost of merchandi se purchase 35493 22139 46988 45252 7439 merchan dise inventory (ending) (8355) (3714) (12019) (9527) (2431) cost of good sold 34950 21932 45488 45627 8359 Gross profit 47850 36690 4606 62013 24181 Expense 9000 10650 14923 32600 6100 Net income (loss) 38850 26040 (10317) 29413 18081 Exercise 4-12 x y z Cash 920 1046 1220 Short-term investment 500 Current receivables 1126 890 Inventory 2300 1136 4600 Prepaid expense 1200 679 900 Total current assets 4420 3987 8110 Current liabilities 2563 1281 4254 Current ratio 1.72 3.11 1.91 Acid-test ratio 0.36 1.70 0.61...
View Full Document

This note was uploaded on 03/16/2010 for the course BA 211 taught by Professor Culver during the Spring '08 term at Lane Community College.

Page1 / 3

Chapter 4 homework - 50094 64681 32540 cost of goods sold 7866 3507 10519 9902 3351 merchandi se inventory(beginning total cost of merchandi se

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online