*BE5-10 Presented below is the format of the worksheet presented in the chapter. Identify worksheet columns for selected accounts. Trial Balance Dr. Cr. Adjustments Dr. Cr. Adjusted Trial Balance Dr. Cr. Income Statement Dr. Cr. Statement of Financial Position (LO 6) Dr. Cr. Indicate where the following items will appear on the worksheet: (a) Cash, (b) Inventory, (c) Sales revenue, and (d) Cost of goods sold. Example: Cash: Trial balance debit column; Adjusted trial balance debit column; and Statement of financial position debit column. *BES-11 Assume that Kowloon Company uses a periodic inventory system and has these account balances (in thousands): Purchases 430,000; Purchase Returns and Allowances 13,000; Purchase Discounts W8,000; and Freight-In W16,000. Determine net purchases and cost of goods purchased. Compute net purchases and cost of goods purchased. (LO 7) Compute cost of goods sold and gross profit. (LO 7) *BE5-12 Assume the same information as in BE5-11 and also that Kowloon Company has beginning inventory (in thousands) of #60,000, ending inventory of #86,000, and net sales of W680,000. Determine the amounts to be reported for cost of goods sold and gross profit. *BE5-13 Prepare the journal entries to record these transactions on Huntington Company's Journalize purchase books using a periodic inventory system. transactions. (a) On March 2, Huntington Company purchased 900,000 of merchandise from Saunder (LO 7) Company, terms 2/10, n/30. (b) On March 6, Huntington Company returned 184,000 of the merchandise purchased on March 2. (c) On March 12, Huntington Company paid the balance due to Saunder Company. *BE5-14 A. Hall Company has the following merchandise account balances: Sales Revenue $180,000, Sales Discounts $2,000, Purchases $120,000, and Purchases Returns and Allow ances $30,000. In addition, it has a beginning inventory of $40,000 and an ending inven- tory of $30,000. Prepare the entries to record the closing of these items to Income Summary using the periodic inventory system. Prepare closing entries for merchandise accounts. (LO 7) *BE5-15 Presented below is the format of the worksheet using the periodic inventory Identify worksheet columns for system presented in Appendix 5B. selected accounts. Trial Balance Adjustments Dr. Cr. Dr. Cr. (LO 7) Adjusted Trial Balance Dr. Cr Income Statement Dr. Cr. Statement of Financial Position Dr. Cr. Indicate where the following items will appear on the worksheet: (a) Cash, (b) Beginning inventory, (c) Accounts payable, and (d) Ending inventory. Example: Cash: Trial balance debit column; Adjustment trial balance debit column; and Statement of financial position debit column