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WileyPLUS f Fiverr / Inbox x New tab (x + https://edugen.wileyplus.com/edugen/Iti/main.uni US Intermediate Accounting, 11th Edition, WileyPLUS Custom Course V1 + Ch22 Help | System Announcements TIMER PRINTER VERSION BACK Exercise 6-2 Oriole Company sells goods to Sage Hill Inc. on account on January 1, 2017. The goods have a sales price of $570,000 (cost $530,000). The terms of the sale are net 30. If Sage Hill pays within five days, it receives a cash discount of $6,000. Past history indicates the cash discount will be taken. Prepare the journal entries for Oriole for January 1, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit (To record the sale.) (To record cost of goods sold.) Prepare the journal entry for Oriole for January 31, 2017, assuming Sage Hill does not make payment until January 31, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit @~ x ENG 12:53 PM P 2021-03-30 to search ins prt sc delete home suppr. debut 144 imprecr 16 0 num lock verr.num 8 O 1/4 1/2 3/4 2. P U E R 3x WileyPLUS x ' Fiverr / Inbox https://edugen.wileyplus.com/edugen/Iti/main.uni x New tab x | + US to Intermediate Accounting, 11th Edition, WileyPLUS Custom Course V1 + Ch22 8 Help | System Announcements TIMER CES Exercise 6-22 PRINTER VERSION BACK NEXT . On May 31, 2017, Cullumber Company consigned 130 freezers, costing $700 each, to Bramble Company. The cost of shipping the freezers amounted to $780 and was paid by Cullumber Company. On December 30, 2017, a report was received from the consignee, indicating that 65 freezers had been sold for $890 each. Remittance was made by the consignee for the amount due after deducting a commission of 6%, advertising of $360, and total installation costs of $500 on the freezers sold. Calculate the inventory value of the units unsold in the hands of the consignee. Inventory value of units unsold Calculate the profit for the consignor for the units sold. Profit on consignment sales Calculate the amount of cash that will be remitted by the consignee. Remittance from consignee Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER Mail has new messages 12:54 PM ~ 0 4X ENG 2021 O o search end delete debut port sc suppr no il 14 num lock verrnum 3/4 14 0 1/2 2 00 A D La A Y E R TO x WileyPLUS X Fivers / Inbox x | New tab B https://edugen.wileyplus.com/edugen/Iti/main.uni x + US Intermediate Accounting, 11th Edition, WileyPLUS Custom Course V1 + Ch22 Help | System Announcements TIMER ES PRINTER VERSION Exercise 6-27 BACK NEXT non-cancellable. During 2017, Cullumber Company started a construction job with a contract price of $1,984,000. The job was completed in 2019. The following information is available. The contract is 2017 2018 2019 Costs incurred to date $496,000 $1,023,000 $1,326,800 Estimated costs to complete 744,000 341,000 Billings to date (non-refundable) 372,000 1,116,000 1,984,000 Collections to date 334,800 1,004,400 1,767,000 Calculate the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. 2017 2018 2019 Gross profit recognized Prepare all necessary journal entries for 2018. (Use Accounts Payable for costs incurred to date.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Debit Credit Account Titles and Explanation To record cost incurred.) ~ X ENG 12:55 PM O to search hp end delete 144 9 14 num lock verr num 3/4 1/2 200 3 A D E O S T Y U TA E R K G H pause D F MX WileyPLUS X Fiverr / Inbox https://edugen.wileyplus.com/edugen/Iti/main.uni * | New tab US ... Intermediate Accounting, 11th Edition, WileyPLUS Custom Course V1 + Ch22 Help | System Announcements TIMER CES Exercise 6-15 PRINTER VERSION BACK NEXT Sandhill Growth Company is presently testing a number of new agricultural seeds that it has recently harvested. To stimulate interest, it has decided to grant five of its largest customers the unconditional right to return these products if not fully satisfied. The right of return extends for four months. Sandhill Growth sells these seeds on account for $1,950,000 (cost $600,000) on April 2, 2017, Customers are required to pay the full amount due by June 15, 2017. The company follows IFRS. Prepare the journal entry for Sandhill Growth at April 2, 2017, assuming Sandhill Growth estimates returns of 20% based on prior experience. (Credit account titles are amounts.) automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the Date Account Titles and Explanation Debit Credit April 2, 2017 (To record sales.) April 2, 2017 (To record cost of goods sold.) Assume that one customer returns the seeds on June 1, 2017. Prepare the journal entry to record this transaction, assuming this customer purchased $130,000 of seeds from Sandhill Growth. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) 12:56 PM ~ 91 4X ENG 2021-03-30 99 9 5 4 P O to search hp 144 num lock verr.num 3/4 O 1/2 4- CC 2 D TA E R K G H pause D F m N M O B C V XX WileyPLUS X f Fiverr / Inbox https://edugen.wileyplus.com/edugen/Iti/main.uni x New lab S Intermediate Accounting, 11th Edition, WileyPLUS Custom Course V1 + Ch22 Help | System Announcements April 2, 2017 PRINTER VERSION BACK NEXT (To record cost of goods sold.) Assume that one customer returns the seeds on June 1, 2017. Prepare the journal entry to record this transaction, assuming this customer purchased $130,000 of seeds from Sandhill Growth. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit June 1, 2017 To record the sales return.) June 1, 2017 (To record inventory return.) Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER ~ @ 4x ENG O search hp port sc delete um lock verr.num 14 10 O 314 1/2 2 4 4 D E O S Y U T TA E R K paus 58- G D M O C V B N