B-08.02 Worksheet

B-08.02 Worksheet - Artist 4,775 Spring Break Artist 5,000...

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Name: Date: Section: B-08.02 (a) The art gallery is the ___________ and the artists are the ____________. The inventory should be carried on the balance sheets of the_____________. (b) The items for inclusion inventory are to be selected from the list below: See Shining Sea Gallery # 2,500 $ Mermaids Artist # 1,800 Big Fish Gallery # 910 Shells At Dawn Gallery # 3,000 Sand Forever Gallery # 1,090 Development! Artist # 4,200 Taking a Chance Gallery # 20,000 Tides and Moons Gallery # 500 Mystery Sea Gallery # 1,200 On the Beach Artist # 1,650 Too Much Sun
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Unformatted text preview: Artist # 4,775 Spring Break Artist # 5,000 Inland Gallery # 7,880 Alligators Return Artist # 19,720 Frost and Farm Gallery # 14,300 TOTAL OWNED INVENTORY AT RETAIL-$ DIVIDED BY MARKUP RATE TOTAL INVENTORY VALUE FOR THE BALANCE SHEET $ - 1 of 2 Name: Date: Section: B-08.02 (c) GENERAL JOURNAL Date Accounts Debit Credit Cash Commission Revenue Accounts Payable To record sale of art held on consignment (25% revenue and 75% payable to artist) 2 of 2...
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B-08.02 Worksheet - Artist 4,775 Spring Break Artist 5,000...

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