Entries by mary WAMBUGU

Malloy Company began the accounting period with $60,000 of merchandise, and the net cost of purchases was $240,000. A physical inventory showed $72,000 of merchandise unsold at the end of the period.

August 29, 2019 in /by

Malloy Company began the accounting period with $60,000 of merchandise, and the net cost of purchases was $240,000. A physical inventory showed $72,000 of merchandise unsold at the end of the period. The cost of goods sold of Malloy Company for the period is _______________.Question 24 options: $300,000 $228,000 $252,000 $168,000 None of the above […]

 

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Malloy Company began the accounting period with inventory of 3,000 units at $30 each. During the period, the company purchased an additional 5,000 units at $36 each and sold 4,600 units.

August 29, 2019 in /by

Malloy Company began the accounting period with inventory of 3,000 units at $30 each. During the period, the company purchased an additional 5,000 units at $36 each and sold 4,600 units. Assume the use of periodic inventory procedure. The cost of ending inventory using weighted-average is _______________.Question 27 options: $114,750 $157,600 $122,400 $109,650 None of […]

 

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The need for adjusting entries is based on _______________. Question 20 options: the matching principle

August 29, 2019 in /by

The need for adjusting entries is based on _______________.Question 20 options: the matching principle source documents the cash basis of accounting activity that has already been recorded in the proper accounts   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”

 

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The following information is related to the bank reconciliation of the Acme Company: Balance per bank statement $1,951.20 Balance per ledger 1,869.60

August 29, 2019 in /by

The following information is related to the bank reconciliation of the Acme Company: Balance per bank statement $1,951.20 Balance per ledger 1,869.60 Deposits in transit 271.20 Outstanding checks 427.80 NSF check 61.20 Service charges 13.80 The adjusted/correct cash balance is _______________.Question 30 options: $1,794.60 $1,719.60 $1,638.00 $1,713.00 $1,876.20 SaveQuestion 31 (1 point) In a bank reconciliation, […]

 

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