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AC114 TEXTBOOK EXERCISES TEMPLATE - UNIT 8-Joanna Aeschbacker

AC114 TEXTBOOK EXERCISES TEMPLATE - UNIT 8-Joanna Aeschbacker

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Problem 7-1A Name: Joanna Aeschbacker Section: 9 Enter the appropriate amount or item in the shaded cells. If the Total Cost of the Inventory is incorrect for any date, an asterisk (*) will ONLY appear to the right of column K, "Total Cost." 1. Date Purchases Cost of Merchandise Sold Inventory Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Mar. 3 8 120 $1,800 $216,000 60 $1,500 $90,000 120 $1,800 $216,000 11 60 $1,500 $90,000 100 $1,800 $180,000 20 $1,800 $36,000 30 50 $1,800 $90,000 50 $1,800 $90,000 Apr. 8 100 $2,000 $200,000 50 $1,800 $90,000 100 $2,000 $200,000 10 50 $1,800 $90,000 90 $2,000 $180,000 10 $2,000 $20,000 19 30 $2,000 $60,000 60 $2,000 $120,000 28 100 $2,200 $220,000 60 $2,000 $120,000 100 $2,200 $220,000 May 5 60 $2,000 $120,000 100 $2,200 $220,000 16 80 $2,200 $176,000 20 $2,200 $44,000 21 180 $2,400 $432,000 20 $2,200 $44,000 180 $2,400 $432,000 28 20 $2,200 $44,000 70 $2,400 $168,000 110 $2,400 $264,000 31 Balances $894,000 $264,000 2. JOURNAL Page 1 Date Description Post Ref. Debit Credit Accounts Receivable #NAME? 2,307,500 #NAME? #NAME? Sales #NAME? 2,307,500 #NAME?
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Cost of Merchandise Sold #NAME? 894,000 #NAME? #NAME? Merchandise Inventory #NAME? 894,000 #NAME? 3. Gross Profit for the sales period: $1,413,500 #NAME? 4. Ending Inventory Cost: $264,000 #NAME?
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Problem 7-2A Name: Joanna Aeschbacker Section: 9 Enter the appropriate amount or item in the shaded cells.
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