Can anyone solve the accounting problems attached below. I have attached question 6 (part 1,2&3), 8, 12. Thank you
* Question 12 Pina Colada Distribution markets CDs of numerous performing artists. At the beginning of March, Pina Colada had in beginning inventory 2,290 CDs with a unit cost of $7. During March, Pina Colada made the following purchases of CDs. March 5 1,840 $8 March 21 5,340 $10 March 13 3,430 @ $9 March 26 2,140 @ $11 During March 11,270 units were sold. Pina Colada uses a periodic inventory system. Determine the cost of goods available for sale. The cost of goods available for sale $ Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (For calculation purposes, round average cost to 3 decimal places, e.g. 5.275. Round answers to 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory $ The cost of goods sold $ Which cost flow method results in (1) the highest inventory amount for the balance sheet and (2) the highest cost of goods sold for the income statement? (1) produces the highest inventory amount. (2) produces the highest cost of goods sold. Anaction Attametc. n of 1 ncal* Question 6 On July 31, 2017, Crane Company had a cash balance per books of $6,245.00. The statement from Dakota State Bank on that date showed a balance of $7,795.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $16.00. 2. The bank collected $1,625.00 for Crane Company through electronic funds transfer. 3. The July 31 receipts of $1,307.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. . Company check No. 2480 issued to L. Taylor, a creditor, for $384.00 that cleared the bank in July was incorrectly entered in the cash payments record on July 10 for $348.00. 5. Checks outstanding on July 31 totaled $1,965.10. 6. On July 31, the bank statement showed an NSF charge of $680.00 for a check received by the company from W. Krueger, a customer, on account.Prepare the bank reconciliation as of July 31. (List items that increase balance as per bank & books first.) CRANE COMPANY Bank Reconciliation $Prepare a tabular analysis for the necessary adjustments at July 31. Include margin explanations for the changes in revenues and expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to 2 decimal places, e.g. 52.75.) Assets = Liabilities + Stockholders Equity Accts. Accts. Cash Rec. Pay. + Rev. Exp. July 31 31 31 31 Question Attempts: 0 of 1 used* Question 8 On October 1, 2016, Marigold Corp. issued $804,000, 8%, 10-year bonds at face value. The bonds were dated October 1, 2016, and pay interest annually on October 1. Financial statements are prepared annually on December 31. (a) Prepare a tabular summary to record the issuance of the bonds and the adjustments to record the accrual of interest on December 31, 2016. (c) Prepare a tabular summary to record the payment of interest on October 1, 2017. d) Prepare a tabular summary to record redemption of the bonds on October 1, 2026, their maturity date. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Stockholders' Equity Retained Earnings Cash = Bonds. Pay. + Interest Pay. + Common Stock + Revenue Expense Dividend (a) Oct. 1, 2016 $ $ $ $ Dec. 31, 2016 Interest expense (c) Oct. 1, 2017 Interest expense (d) Oct. 1, 2026 Show the balance sheet presentation of bonds payable and bond interest payable on December 31, 2016. MARIGOLD CORP. Balance Sheet (Partial) Question Attempts: 0 of 1 used
