6 / entry

At the beginning of October, Bowser Company's inventory consists of 52 . units with a cost per unit of $48. The following transactions occur during the month of October. October \& Turchnse 12h unite of inventory an oceount fron Naluigi Canpany for $50 per uoit, terns 2/10, b/30. oetober 5 Pay canh tor freight ehargen related to the oetober 4 purchase, 5926 . october 3 Return 10 detective unita tran the Ootober 4 purehase and recelpt of eredit. octobet 12 Pay whlalgi Company in fult. Oetober 15 fel1. ISt anitn of Inventory to cuntonera on acoount, $12,646. (Rintr the cont of unite nold fran the oetober 4 purehnse includea b50 unit cost plan $1 per unit for freight lean $1 por unit for the parehame diacount, or 5 \$he per unit. 1 October 19 Aecelve fall paynent fron custoenra rolated to the sale on october 15 . october 20 Furehase 9t unita of isventory fron waluigt Coopany for $68 per unit. october 22 lie11 98 anits of inventoxy to custonere for cash, $7, 340. Required: 1. Assuming that Bowser Company uses a FFO perpetual inventory system to maintain its inventory records, record the transoctions. 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 adjusting entry for lower of cost and net realizable value. 3. Prepare the top secton of the multiple-step income statement through gross profit for the month of October after the adjusting entry for lower of cost and net realizable value. Complete this question by entering your answers in the tabs below. Assuming that Bowser Company uses a FIFO perpetual inventory system to maintain its inventory records, record the transactions. (If no entry is required for a transaction/event, seiect "No Journal Entry Required" in the first account fleld.) Journal entry worksheet Record purchase of 128 units of irventory on account from Waluigi company for 550 per unit, terms 2/10,N/30. Nister finter dobits befiere credits. At the begiring of Octobec. Bowser Company's inventory consists of 52 units with a cost per unit of 548 . The following transactions occur during the month of October. oetaber \& harchawe ian unita of inventory on aceoht from walej91 Canpany tor \$50 per anit, terma 2/16, M/30. Getober s fay cask for freipht eharget rwalated to the october 4 parchase, 1026. Getober i2 iny Holuigi Conpany in full. Furehase inclades ise unit eont plas $7 per unit for treight inon $1 per onit for the purehase diecount, or ist per unit-1 October 20 hechire full peyment from ouatenera related te the wale ae octabe is Aequired: 1. Assuming that Bowser Company uses a FFO perpetual inventory system to maintain its inventory records, record the transactions. 2. Suppese by the end of October that the remaining imventory is estimated to have a net realiable value per unit of 535 . Record any neceisary adjusting enty for lower of cost and net realizable value: 3. Prepare the top section of the multiple-step inconse statement through gross profit for the month of October affer the adjusting entry for lower of cost and net realizable value. Cemplete this question by entering your anwwers in the tabs below. Aawurisg that 6ewser Company uses a firo perpetiequ miventory whtem te maimain ns inventory records, fecord the transactions. (If no Journal entry worksheet At the beginning of Octobec, Bowser Company's inventory consists of 52 units with a cost per unit of $48. The following transactions occur during the month of October october 1 Foy canh for freight chargen related to the oetober 4 purehone, 5026. Octolet 3 Aeturm 10 defective unita from the oetober 4 purchase and recelpt of oredit. Oeteber 32 Pay Waluigi. Coepasy in tall. purehave ibeludes iso unit obat plas $7 per anit for freight leas $1 per unit for tha parchase diacount, or FSt per usitis october Is Mecelve fall paywent fron custooere felated to tha sale on oetober 15.. october 20 Turehane 4f bnits of inventory fron Haluigl company for 168 per unit. oeteber 22 sell 31. usits of isvestery to custosers foe eash, $7,340. Required: 1. Assuming that Bowser Company uses a fiFO perpetual inwentory system to maintain iss inventory records, fecord the transactionsi 2. Suppose by the end of October that the remaining lnventory is estimated to have a net realizable value per unit of S3S. Record any necessary odjusting entry for lower of cost and net reallable value: 3. Prepare the top section of the multiple-step income statement through gross-profit for the month of October after the adjusting entry for lower of cost and net realiable value. Complete this question by entering your answers in the tabs below. Assuming that Bowser Company uses a FIFO perpetual inventory system to maintain its inventory records, fecerd the transactions. ftf no eotry it requlred for a trantactionvevent, select "No loumal Entry Aequireid in the first account field. Journal entry worksheet At the beginning of October, Bowser Company's inventory consists of 52 units with a cost per unt of S48. The following transactions occur during the month of octobec Ootober-5. Fay cank foe freight eharges. related to the ootober 4 purchase, 5326. October 3 prtorn 10 defective unite from the ootober 4 purebasn and receipe of eredit; dectobet 12 Day kalelisi Cenpeny in full. sts per unit, ) october 15 Peceive fel1 paynent from austonere related to the walo on oecobet IS. Getober 2 f furehane 3s unite of investery fron waluiqi coepany for f6B per anit. betober 22 fiell-36 wnits of investery to custoneri for cash, $7, liop. Required: 1. Assuming that Bowser Company uses a FIFO perpetual inventory system to maintain its inventory records, record the transactions. 2. Suppose by the tend of October that the remainimg imventory is estimated to have a net realizable volue per unit of $35. Record any necessary adjusting entry for lower of cost and net realizable value. 3. Prepare the top section of the multiple-step income statement through gross profit for the month of October after the adjusting entry for lower of cost and net realizable value. Complete this question by entering your answers in the tabs below. Assuming that Bowser Company uses a firo perpotual inventory system to maintain its inventory records, record the transactions. (If no entry is required for a transacbon/event, select "No Joumat Entry Required" in the frat account field.) Journal entry worksheet At the beginning or October. Bowser Company's inwentory consists of 52 units with a cost per unit of $48. The following transactions occur duting the month of Octobes. Octobet 4 Purcbare 12t unita of inventory od acooust trom Waluigi Caepany for 150 per unit, terma 2/10, hiso. Ootober 5 Thy cesh for frwight eharges related to the oetober 4 purehase, 5826 . October 3 theturs 10 tefective uaita traa the octaber 4 purehase abd receipt of eredit. october 12 pary Willalgi Conpeny is full. october is Inl1 15e wite of inventory to euatoeere on abcount, 512,649 . (Hint, the cont of anits sold from the october 4 . purcham includes ISo unit cost plus 57 per unit for freight las $1 per unit for the porethase discount, or 456 pet unit. Detoher ts peceive full paytent from eustoners Felated to the sate on October 15., betober 22 thel1 53 units of ieventory to customern for canh, 57,840 , Required: 1. Assuming that Bowser Company uses a FiFO perpetual Inventory system to maintain its imventory records, record the transections. 2. Suppose by the end of October that the remaining inventory is estimated to have a net realizable value per unit of $35. Record amy necessary ad usting entry for lower of cost and net realitable value. 3. Prepare the top section of the multiple-step income statemont through gross prodit for the month of October after the scjusting entry for lower of cost and net realizable value: Complete this question by entering your answers in the tabs below. Astuming that Powser Company uges a FiFO perpetual inventory system to maintain its imventory records, recgrd the transactions. \{If ne entry is required for a transaction/event, seiect "No Journal entry Required in the first account. field.) Journal entry worksheet \&ecord the sale of 158 units of inventory to custemers on account, 512,640. At the beginning of October, Bowser Company's imventory consists of 52 units with a cost per unit of $48. The foliowing transactions occuc during the month of Octobet. Oetober 4 Purchses 128 unita of inventory on account from Waluigh company for 650 per unit, termb 2/10, Al 30. October 5 Pay cash tor freight ehargen related to the October 4 purchane, $426. Oetober 9 Return 10 defective unite fron the Ootober 4 purchane and receipt of crndit. october 12 Pay Kn1uigi. Company in full. oetober 25 sel1 156 units of investory to eustomorn on acoount, 912,640 . (Bint: The cost of unita sold from the October 4 purchate ineludes $50 satt coot plus 57 per unit for freight less $1 por unit for the purchase discount, or $56 per unit.) October 19 Meceive full payment fron cuntonera related to the nale on october 15\%. October 20 Purebase 95 unita of inventory fron Waluigi Conpany for $68 per anit. oetober 22 sel1 98 units of inventory to eustceners for eash, 57,440. Required: 1. Assuming that Bowser Company uses a FlFO perpetuat inventory system to maintain its inventory records, record the transactions. 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 adjusting entry for lower of cost and net realizable value. 3. Prepare the top section of the multiple-step income statement through gross profit for the month of October after the adjasting entry for lower of cost and net realizable value. Complete this question by entering your answers in the tabs below. Assuming that Bowser Company uses a FiFo perpetual inventory system to maintain its inventory records, record the transactions. (If no entry is required for a transactior/event, select "No Journal Entry Recuiced" in the first account field.) Journal entrv worksheet At the beginning of October, Bowser Company's inventory consists of 52 units with a cost per unit of $48. The following transactions occur during the month of October. october 4 Turebnne 126 unitm of inventory on account from Maluigl Company for 550 per unit, teras 2/10, n/30. oetobier 5 tay eanh for freight ehargen related to the ootober 4 purehaae, $1726. oetober. 9 Heturn 10 defective units fron the October 4 purchase and receipt of oredit. october 12 Thy Waluigi Conpany in ful1. octaber 15sen127515 uniti of inventory to cuntomeri an accoune, $12,640, , Hintz The cont of unita mold from the oetober 4 purchase ineludes 550 unit cost plue $7 per unit for troight lesn $1 per unit for the purchase discount, or \$56 per init -) october 19 Receive full paymnt tron cuatomers related to the sale on october 15\%. october 20 Purebane 98 units of Inyentory from waluigi company for 568 per unit. oetober 22 sell 9f unita of inventory to eastoners for cash, $7,840. Required: 1. Assuming that Bowser Company uses a FIFO perpetual inventory system to maintain its inventory records, record the transactions. 2. Suppose by the end of October that the remaining imventory is estimated to have a net realizable value per unit of $35. Record any necessary adjusting entry for lower of cost and net realizable value. 3. Prepare the top section of the multiple-step income statement through gross profit for the month of October after the adjusting entry for lower of cost and net realizable value. Complete this question by entering your answers in the tabs below. Assuming that Bowser Company uses a fifo perpetual inventory system to maintain its inventory records, record the transactions. (If no entry is reguired for a transactionvevent, select "No Joumal Entry llequired" in the first account field.) Journal entry worksheet 1234568910) Rncord receipt of full payment from custemers related to the sale on october 15. Juve ( Colar deban fefore cradits. At the beginning of October, Bowser Company's inventory consists of 52 units with a cost per unit of $48. The following transactions pocur during the month of October. Detober 4 Torehane 128 units of inventory on accoant fron waluigi Company for $50 per unit, terns 2/10, n/30. Detober 5 Pay cash for freight ehargea related to the olotobet 4 purchase, \$826. Setober 9 Return 10 defective unita fron the october 4 purchase and receipt of credit. Oetober 12 Pay Kaluigi Conpany in foll. betober 15 sel1 158 units of inventory to cuatomern on account, $12,640. (int : The cost of unite sold fron the October 4 . purchase ineludes $50 unit cost plus $7 per unit for freight less $1 per unit for the purchase diecount, or $56 per sinit+3 detober 19 Hoceive full payeent fron custoners related to the sale on Detober 15., detober 20 Purehase 98 units of inventory from Walaigi Company for $68 por unit. oetober 22 sell 9N unfts of inventory to customers for cash, $7,840. Required: Assuming that Bowser Company uses a FIFO perpetual inventory system to maintain its inventory records, record the transactions. 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 adjusting entry for lower of cost and net realizable value. 3. Prepare the top section of the multiple-step income statement through gross profit for the month of October after the adjusting entry for lower of cost and net realizable value. Complete this question by entering your answers in the tabs below. Assuming that Bowser Company uses a FiFO perpetual inventory system to maintain its inventory records, record the transactions. (If ne entry is required for a transaction/event, seiect "No Journal Entry Required" in the first account field.) Journal entry worksheet Hote Eneer oobits before eredts, At the beginning of October, Bowser Company's inventory consists of 52 units with a cost per unit of $48. The following transactionis occur during the month of October. october 4 Purchate 12l unita of inventory on acoount fron Waluigi conpany for $50 per unit, terma 2/10, n/30. Oetober 5 thy cash for freight ehargen related to the october 4 purebase, 5826 . Getober $ Peturn 10 defective unite from the Oetober 4 purehane and receipt of erodit:Oetober 12 pay Waluigi Coepany in tull. porchase includen $50 unit cont plun 5? per unit for freight leas 51 per unit for the purohnne discount, or $56 per untit, October 19 Neceive full payment fron curtoners related to the wale on october 15. October 20 Purchate 98 untta of inventory fron Waluigi conpany for $68 per uait:. october 22 sel1 98 units of inventofy to euntoderi for oash, $7, 840 . Rectuired: 1. Assuming that Bowser Company uses a FIFO perpetual ifventory system to maintain its inventory records, record the transactions. 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 adjusting entry for lower of cost and net realizable value. 3. Prepare the top section of the multiple-step income statement through gross profit for the month of October after the adjusting entry for lower of cost and net realizable value. Complete this question by entering your answers in the tabs below. Assuming that Bowser Company uses a FIFO perpetual inventory system to maintain its inventery records, record the transactions. (If no entry is required for a transaction/event, select "No Joumal Entry Required" in the first account fold.) Intirnal antro wirkehaat At the beginning of Octobec, Bowser Company's inventory consists of 52 units with a cost per unit of $48. The following transactions occut during the month of October. October 4 Purehane 128 aniti of inventory on aocoust fron Waluigi coepany for 550 per unit, terms 2/10, n/30. October 5 Pay cash tar freight chargea related to the october 4 porchasa, $826. october 9 Meturn 10 defective unit= fron the Ootober 4 purohnne and recelpt of eredit. Dotober 12. Pay Kaluigi Company in tall. October 15 Bel2 158 anita of inventory to custooerm on account, $12,640. (irintr the coll of units nold from the Getober 4 purchane iscludes $50 unlt coat plus $7 per unit for fralght leas $1 per unit tor the porehase discount, or 5.56 per anit. ) October 19 Receive tull. payment tran eustomer related to the sale on oetober 15. October 20 hurehate 98 unitin of iaventory from Waluigi Company for 568 per unit. ootober 22 sell 9g units of inventory to custoners for cash, $7,940. Required: 1. Assuming that Bowser Company uses a FIFO perpetual inventory system to maintain its inventory records, record the transactions. 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 adjusting entry for lower of cost and net realizable value. 3. Prepare the top section of the multiple-step income statement through gross profit for the month of October after the adjusting entry for lower of cost and net realizable value. Complete this question by entering your answers in the tabs below. Aasuming that Bowser Company uses a firo perpetual inventory system to maintain its inventory records, record the transactions. (If no entry is required for a transaction/event, select "No Journal entry Required" in the first account field.) Journal entry worksheet