$11$:$08$

Assignment practice

$94\%$

Assignme...

$$ financial$\_$acco..

Week$11\_2\_$Lip...

Week$+11-$Fatt...

In class ch $11-..$

$\backslash$table$[[$JC Net,$202,800,$October $12,2021],[$Noell Store,$53,000,$December $15,2021],[$Johnston Supplies,$94,000,$September $25,2021],[$Total$,611,100,]]$

$\backslash$table$[[\backslash$table$[[$Age Category$],[($Number of Days Unpaid$)]],\%$ Bad Debt$],[1-30,5],[31-90,20],[91-120,35],[$Over $120,50]]$

C$.$ B$-$Nice unintentionally omitted the record of the issuance of preferred stock and repurchase of treasury stock transaction. On March $1,2021,$ the company issued $10,000$ shares of $5\%,$$$50$ par value preferred stock at a price of $$60$ per share. In addition, B$-$Nice repurchased its common stock $25,000$ shares on June $12$ at a price of $40$ per share and subsequently sold $15,000$ shares of the treasury stocks to the market at a price of $$50$ per share on November $15,2021.$ The total dividend declared was $45,000($already adjusted on the financial statement$).$

d$.$ Below is the information on the beginning inventory, purchases and sales for the company for the year. Currently, B$-$Nice uses the perpetual FIFO method to value its inventory and cost of goods sold. However, B$-$Nice decided to change the costing method to the weighted average. Adjust the inventory and cost of goods sold to reflect the change.

$\backslash$table$[[$Date$,$Description,# of Units,$\backslash$table$[[$Unit Cost or$],[$Selling Price$]]],[$Beginning inventory,$5,000,$$$46$