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8 Pastificio company had the following partial list of account balances at year-endi Sales Returns and Allowances $1,300 Accounts Receivable $38,500 Sales Discounts $3.000 Sales
8 Pastificio company had the following partial list of account balances at year-endi Sales Returns and Allowances $1,300 Accounts Receivable $38,500 Sales Discounts $3.000 Sales Revenue $101.000 Allowance for Doubt Accounts $1,800 01 1533 How much is net sales revenue? Multiple Choice $98.000 Part 2 Rexenesansieelvables. (3 questions. 13 points) 9 for Inc provided the following information regarding its accounts receivable balance and sales for the ended De 2019 Estimated Loss Rate Accounts Receivable, end SOOG 580.000 $3,000 Days Outstanding Under 90 days 90 10 180 days Over 180 days 30N Beginning of period allowance for doubtlul accounts: $1600 Actus write alls of bad debt during the period: $500 Sales totaled $37,000. The entire sales were on Credit Historically 4 of lokalno credit sales were not collected 1. Provide the journal entry for the actual wiite-offs of uncollectible debt during the year. I points This question will be sent to your instructor for grading Maple Inc. Sells Thanksgiving themed mugs. The firm has provided the following information about one of its items 10 Number of units Cost per unit Date 01/01/2019 06/11/2019 09/23/2019 10/14/2019 During 2015 Transaction Beginning inventory Purchase Purchase Purchase Sale 160 250 260 280 700 $230 $330 $340 S280 Maple Inc, applies the last in-first-out (LIFO) assumption and has a December 31, fiscal year-end. 1 What is the value of Maple Inc's inventory on December 31, 20197 (No need to show your worko 14 points) 2. What is the value of Maple Inc's cost of goods sold for the year ended on December 31, 2019? (No need to show your work 14 points) (For Question 31 Avec Inc. sells Thanksgiving themed wine glasses. The firm has provided the following information about one of its items Date 01/012019 10/14/2019 Transaction Beginning inventory Purchase Number of units 200 450 Cost per unit $30 $40 Avec Inc. applies the First-in-first-out (FIFO) assumption and has a December 31, fiscal year-end. The ending inventory consisted of 420 glasses At the end of the year, the glasses with the year 2019 printed on it became obsolete. As a result, the net realizable value of the glasses decreased to $35. Avec Inc applies the lower of cost or net realizable value. 3. What is the value of Avec Inc.'s inventory on December 31, 2019? (5 points)
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