Can someone help me with all of these please
X 5 47419 X FIAIR The Accounting Cycl X G accounting cycle rec x Nah - tak d-fleet01-xythos.$3.eu-central-1.amazonaws.com/5cb82b70c5878/125586?response-cache-control. Takiyu Al. W3Schools Online... war C+ +. Basic Exercises.. . FAR The Accounting Cyc... "BE5-10 Presented below is the format of the worksheet presented in the chapter. Identify worksheet columns for selected accounts. Adjusted Trial Income Statement of (LO 6 Trial Balance Adjustments Balance Statement Financial Position Dr. | Cr. Dr. | Cr. Cr. Dr. Cr. 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. *BE5-11 Assume that Kowloon Company uses a periodic inventory system and has these Compute net purchases and account balances (in thousands): Purchases W430,000; Purchase Returns and Allowances cost of goods purchased. W13,000; Purchase Discounts W8,000; and Freight-In W16,000. Determine net purchases and cost of goods purchased. (LO 7) BE5-12 Assume the same information as in BE5-11 and also that Kowloon Company has Compute cost of goods sold beginning inventory (in thousands) of W60,000, ending inventory of W86,000, and net and gross profit. sales of W680,000. Determine the amounts to be reported for cost of goods sold and gross (LO 7) profit. BE5-13 Prepare the journal entries to record these isactions 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. BES-14 A. Hall Company has the following merchandise account balances: Sales Revenue Prepare closing entries for $180,000, Sales Discounts $2,000, Purchases $120,000, and Purchases Returns and Allow- merchandise accounts. ances $30,000. In addition, it has a beginning inventory of $40,000 and an ending inven- (LO 7) tory of $30,000. Prepare the entries to record the closing of these items to Income Summary using the periodic inventory system. "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. (LO 7 Adjusted Trial Income Statement of Trial Balance Adjustments Balance Statement Financial Position DE. | Cc DE. Cr. DE Cr. Dr. | Cr. DE. 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 O e m N DELLX S 47419 X FIAIR The Accounting Cycl X G accounting cycle ree x Nah - takiyualdei fleet01-xythos.$3.eu-central-1.amazonaws.com/5cb82b70c5878/125586?response-cache-control... akiyu At. 3W3Schools Online... . war C++ Basic Exercises... - FAIR The Accounting Cyc... Chapter 5 Accounting for Merchandising Operations BRIEF EXERCISES Compute missing amounts in determining net income. BE5-1 Presented below are the components in Clearwater Company, Lid.'s income state- (LO 1 ment. Determine the missing amounts. Sales Cost of Gross Operating Net Revenue Goods Sold Profit Expenses Income (a) 178,000 $30,000 (b) $108,000 $10,800 (c) $55,000 E29.500 E83.900 879,600 E39 500 Journalize perpetual inventory entries. BE5-2 Giovanni Company buys merchandise on account from Gordon Company. The selling price of the goods is (780, and the cost of the goods is 560. Both companies (LO 2, 3) use perpetual inventory systems. Journalize the transaction on the books of both companies. Journalize sales tran BE5-3 Prepare the journal entries to record the following transactions on Benson Company, (LO 3 Ltd.'s books using a perpetual inventory system. (a) On March 2, Benson Company sold $800,000 of merchandise to Edgebrook Company, terms 2/10, n/30. The cost of the merchandise sold was #620,000. b) On March 6, Edgebrook Company returned 81 20,000 of the merchandise purchased on March 2. The cost of the returned merchandise was #90,000. (c) On March 12, Benson Company received the balance due from Edgebrook Company. Journalize purchase transactions, BE5-4 From the information in BE5-3, prepare the journal entries to record these trans- actions on Edgebrook Company's books under a perpetual inventory system. (LO 2) Prepare adjusting entry for BE5-5 At year-end, the perpetual inventory records of Federer Company showed mer- merchandise inventory. chandise inventory of CHF98,000. The company determined, however, that its actual inventory on hand was CHF96,100. Record the necessary adjusting entry (LO 4) Prepare closing entries for BE5-6 Orlaida Company has the following account balances: Sales Revenue (192,000, accounts. Sales Discounts E2,000, Cost of Goods Sold 6105,000, and Inventory
