ACC Week 5 CP - Page 206 QS 5-8 a. Perpetual b. Perpetual...

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Unformatted text preview: Page 206 QS 5-8 a. Perpetual b. Perpetual c. Perpetual d. Perpetual Page 208 Exercise 5-9 A B C D E Sales 60,000 42,000 36,000 78,000 23,600 Cost of goods sold Merchandis e inventory (beginning) 6,000 17,000 7,500 7,000 2,560 Total cost of merchandis e purchases 36,000 1,550 33,750 32,000 5,600 Merchandis e inventory (ending) (7,950) (2,700) (9,000) (6,600) (2,560) Cost of Goods Sold 34,050 15,900 32,250 32,400 5,600 Gross Profit 25,950 26,600 3,750 45,600 18,000 Expenses 9,000 10,650 12,150 2,600 6,000 Net income (loss) 16,950 15,950 8,400 43,000 12,000 Page 209 Exercise 5-13 1) Periodic Nov. 1 Purchases...............................................................1,400 Accounts Payable...........................................1,400 To record purchases on credit. Perpetual Nov. 1 Merchandise Inventory....1,400 Accounts Payable..........................................1,400 To record merchandise purchases on credit....
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This note was uploaded on 09/27/2010 for the course CRT 205 crt 205 taught by Professor Darren during the Spring '10 term at University of Phoenix.

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ACC Week 5 CP - Page 206 QS 5-8 a. Perpetual b. Perpetual...

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