Exercise PR5-4B Financial & Managerial Accounting Edition 15

Roses per Joint Joint Product Harvest Proportion Costs Allocation Red roses White roses Peach roses Totals Roses Weighted Weighted per Weight Roses of Percent of Joint Joint Product Harvest Factor Fertilizer Fertilizer Costs Allocation Red roses White roses Peach roses Totals [Key essay answer here]PR 5-4B Sales and purchase-related transactions for seller and buyer using Obj. 2 perpetual inventory system The following selected transactions were completed during April between Swan Company and Bird Company: Apr. 2. Swan Company sold merchandise on account to Bird Company, $32,000, terms FOB shipping point, 2/10, n/30. Swan paid freight of $330, which was added to the invoice. The cost of the goods sold was $19,200. 8. Swan Company sold merchandise on account to Bird Company, $49,500, terms FOB destination, 1/15, n/eom. The cost of the goods sold was $29,700. 8. Swan Company paid freight of $710 for delivery of merchandise sold to Bird Company on April 8. 12. Bird Company paid Swan Company for purchase of April 2. 23. Bird Company paid Swan Company for purchase of April 8. 24. Swan Company sold merchandise on account to Bird Company, $67,350, terms FOB shipping point, n/eom, The cost of the goods sold was $40,400. 25. Swan Company paid Bird Company a cash refund of $1,200 for damaged merchandise in the April 8 sale, Bird Company kept the merchandise, 26. Bird Company paid freight of $875 on April 24 purchase from Swan Company. 30. Bird Company paid Swan Company on account for purchase of April 24. Instructions Journalize the April transactions for (1) Swan Company and (2) Bird Company