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Can I get Help and an explanation on these 6 problems Part 2: Accounting for Inventory Transactions Review each transaction for Premier Pools, a corporation
Can I get Help and an explanation on these 6 problems
Part 2: Accounting for Inventory Transactions Review each transaction for Premier Pools, a corporation that sells PremierPools to consumers. Determine which accounts are impacted in the accounting records and how the transaction impacts the financial statements. The first transaction has been completed for you as an example. 1. Premier Pools issued $85,000 of common stock to shareholders. 2. PremierPools purchased pools from a supplier on account. The purchase totaled $60,000. 3. Premierpools sold a pool to the Smith family for $8,000 cash. The pool cost PremierPools $4,000. 4. Premier Pools issued payment to the supplier for pools purchased in #2 above. 5. Premier Pools sold pools to the Lakeside Country Club on account for $22,000. The 6. Premier Pools paid $350 for an advertisement that ran in this week's newspaper. Part 2: Accounting for Inventory Transactions Review each transaction for Premier Pools, a corporation that sells PremierPools to consumers. Determine which accounts are impacted in the accounting records and how the transaction impacts the financial statements. The first transaction has been completed for you as an example. 1. Premier Pools issued $85,000 of common stock to shareholders. 2. PremierPools purchased pools from a supplier on account. The purchase totaled $60,000. 3. Premierpools sold a pool to the Smith family for $8,000 cash. The pool cost PremierPools $4,000. 4. Premier Pools issued payment to the supplier for pools purchased in #2 above. 5. Premier Pools sold pools to the Lakeside Country Club on account for $22,000. The 6. Premier Pools paid $350 for an advertisement that ran in this week's newspaper
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