Salisbury Company uses the perpetual inventory system and had the following inventory & sales activity for the month of May 2019: Date Activity Quantity Unit Price 5/1 Beginning Inventory 175 $11.50 5/5 Purchase 200 $12.50 5/10 Sales 300 $25 5/15 Purchase 200 $13.00 5/20 Sales 250 $28 5/25 Purchase 150 $14.00 Using the LIFO method, […]
Easton Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2018, Easton Company acquired the following trading securities: Date Company # of Shares Price per Share 8/15 X Company 1,500 $46 9/25 Y Company 1,250 30 9/30 Z Company 1,000 30 On November 10th, Easton Company sold the Y Company stock […]
The following is the Easton Company’s adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $88,665 Accounts Receivable 232,000 Supplies 17,000 Equipment 395,000 Accumulated Depreciation $224,260 Accounts Payable 72,555 Capital Stock 20,000 Retained Earnings 127,145 Service Revenue 877,105 Interest Income 5,500 Dividends 7,000 […]
The following is the Easton Company’s adjusted Trial Balance.<br/><br/><br/><br/><br/><br/>Use this information to prepare the Balance Sheet for the fiscal year. Please provide answer on balance sheet. ATTACHMENT PREVIEW Download attachment sheet.png Easton Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $88,665 Accounts Receivable 232,000 Supplies 17,000 Equipment 395,000 Accumulated Depreciation $224,260 Accounts […]
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