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5) Wilson Company's bank reconciliation revealed a $200 outstanding check. Prepare the adjusting entry Wilson Company should make to record this outstanding check. If no
5) Wilson Company's bank reconciliation revealed a $200 outstanding check. Prepare the adjusting entry Wilson Company should make to record this outstanding check. If no entry is needed write "N/A Date Account Title Debit Credit AJE The following information applies to the next TWO questions. Wizard Company just began business and made the following three inventory purchases in April DATE April 2 April 15 April 27 #UNITS 200 units 400 units 100 units 700 units UNIT COST $10.00 $10.70 $11.00 TOTAL COST 2,000.00 4,280.00 1,100.00 7,380.00 $ Wizard Company sold 580 units during April for $25.00 each. 6) What is the cost of Goods Sold inventory using the LIFO cost flow method? COGS: 7) What is the Ending Inventory for April using the Average Cost flow method? (Round final answer to nearest $1.) Ending Inventory: 8) Magic Consulting Company signed a three-year contract to perform consulting services for a local business on October 1, 2017. Magic received $54,000 cash as an advance payment for these services and agreed the work would begin immediately. What amount of Unearned Revenue would be reported on the December 31, 2018 balance sheet? Unearned Revenue 12/31/2018
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