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14 Part 3 10 point Required information The following information apples to the questions displayed below) At the beginning of October, Bowser Cos inventory consists

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14 Part 3 10 point Required information The following information apples to the questions displayed below) At the beginning of October, Bowser Cos inventory consists of 54 units with a cost per unit of 546. The following transactions occur during the month of October October 4 Purchase 126 units of Inventory on account from Maluigi Co. for $50 per unit, terut 2/10, 1/30. October Pay cash for freight charges related to the October 4 purchase, 569 October 9 Return 10 defective units from the October 4 purchase and receive credit. October 12. Pay Waluigi Co. in full. October 15 Sell 156 units of inventory to customers on account, 512,460. (Mint: The cost of units sold from the October 4 purchase includes $50 unit cont plus se permit for freight loss 51 per unit for the purchase discount, or $55 per unit October 13 Receive full payment from customer related to the sale on October 15. October 20 Purchase De units of Inventory from slutgico for su per unit, te 1/10, 10 October 22 sell units of Inventory to customers for cash, 37,6 (Note for calculating the cost of Inventory old, are the possible purchase discount on October 20.) Det 3. Prepare the top section of the multiple step income statement through gross profit for the month of October after the adjustment for lower of cost and netreatable value DOWSER CO Multiple plocco Stampa For the month of October 14 Serge or $55 per it. October 18 Receive full payment for customers related to the sale on October 15. October 20 Purchase units of inventory from uglo for per un terms 1/10, 1/30 October 22 seul units of Enventory to customers for cash 17,600 Chote For calculating the cost of Inventory sold, ignore the possible purchase tscount October 20) Part 3 10 3. Prepare the top section of the multiple-step Income statement through cross profit for the month of October after the adjustment for lower of cost and net realizable value. BOWSER CO While.ciup Incomentar For the month of Oct 2. Suppose by the end of October that the remaining inventory is estimated to have a net realizable value per unit of $35. Record any necessary adjustment for lower of cost and net realizable value. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Answer is complete and correct. Debit Credit No General Journal Date October 31 1 Cost of Goods Sold Inventory 434 Answer is complete and correct. Credit No Date General Journal Debit 6,300 1 October 04 Inventory Accounts Payable 6,300 696 2 October 05 Inventory Cash 696 > 500 3 October 09 Accounts Payable Inventory 00 500 5,800 4 October 12 Accounts Payable Inventory Cash DO 116 5,684 12.480 5 October 15 Accounts Receivable Sales Revenue 12.480 2 8094 + October 15 12,480 Accounts Receivable Sales Revenue S 12,480 6 October 15 8,094 Cost of Goods Sold Inventory 8,094 7 October 19 > 12.480 Cash Accounts Receivable 12 480 8 October 20 6,336 Inventory Accounts Payable 6,336 9 October 22 7,680 Cash Sales Revenue PS 7.680 10 October 22 Cost of Goods Sold 6.182 SIS 6,182 Required information [The following information applies to the questions displayed below) Greg's Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Greg's Bicycle Shop uses a periodic inventory system. Date Transactions Units Unit Cost Total Cost March 1 Beginning inventory 20 $ 195 March 5 $ 3,900 Sale (5290 each) 15 March 9 Purchase 10 2,150 March 17 Sale (5340 each) 8 March 22 Purchase 225 2,250 March 27 Sale (5365 each) 12 March 30 Purchase 245 1.215 $10,015 215 10 7 For the specific identification method, the March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase. 7. If Greg's Bicycle Shop chooses to report inventory using LIFO instead of FIFO, record the LIFO adjustment. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Required information 7.1f Greg's Bicycle Shop chooses to report inventory using LIFO instead of FIFO, record the LIFO adjustment. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 > Record the LIFO adjustment. Not Enter debits before credits General Journal Date March 31 Debit Credit Required int [The following information applies to the questions displayed below) At the beginning of October, Bowser Co.'s inventory consists of 54 units with a cost per unit of $46. The following transactions occur during the month of October October 4 Purchase 126 units of Inventory on account from Maluigi Co. for $50 per unit, terus 2/10, 1/30. October 5 Pay cash for freight charges related to the October 4 purchase, 5696. October 9 Return 10 defective units from the October 4 purchase and receive credit. October 12 Pay Waluigi Co. in full. October is Sell 156 units of Inventory to customers on account, $12,480. (Hint: The cost of units sold from the October 4 purchase includes $50 unit cost plus 56 per unit for freight loss $1 per unit for the purchase discount, or $55 per unit.) October 19 Receive full payment from customers related to the sale on October 15. October 20 Purchase 96 units of Inventory from Waluigi Co. for $66 per unit, terns 1/10, 1/30. October 22 Sell 6 units of inventory to customers for cash, $7,680. (Note: For calculating the cost of inventory sold, ignore the possible purchase discount on October 20.) 3. Prepare the top section of the multiple-step income statement through gross profit for the month of October after the adjustment for lower of cost and net realizable value [The following information applies to the questions displayed below) At the beginning of October, Bowser Co's inventory consists of 54 units with a cost per unit of $46. The following transactions occur during the month of October October 4 Purchase 126 units of Inventory on account from Maluigi Co. for $50 per unit, terns 3/10, 1/30. October 5 Pay cash for freight charges related to the October 4 purchase. 5696. October Return 10 defective units from the October 4 purchase and receive credit. October 12 Pay Waluigi Co. in full. October 15 Sell 156 units of Inventory to customers on account, $12,460. (Hint: The cost of units sold from the October 4 purchase includes $50 unit cost plus 56 per unit for freight less 31 per unit for the purchase discount, or 355 per unit October 19 Receive full payment from customers related to the sale on October 15. October 20 Purchase 96 units of Inventory from Maluigi Co. for $66 per unit, terus 1/10, 1/30. October 22 seli 96 units of Inventory to customers for cash, 37,6. (hote: for calculating the cost of inventory sold, Ignore the possible purchase discount on October 20.) 3. Prepare the top section of the multiple-step income statement through gross profit for the month of October after the adjustment for lower of cost and net realizable value BOWSER CO. Multiple step Income Statement (partial) For the month of October

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