Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hello i need help with this transactions. please write clean and correct answers with step by step solution. no wrong answers. Thank you. Billie drove

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Hello i need help with this transactions. please write clean and correct answers with step by step solution. no wrong answers. Thank you.

  • Billie drove to Carol's Wood Supplies and purchased on account (Form 19) materials to build the following items for merchandise inventory: 2 each DSK-0001 Desk and BCS-0001 Bookcase, and 1 FLK-0001 Footlocker. Record the items in inventory, make a journal entry for the purchase on account.

i am attaching merchandise inventory if you need it

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
FORM 19 CAROL'S W00\" SUPPLIES 6 Lane Way, Canton, NJ35?41 December 12, 20K): Invoice No. (10579 Basswood Furniture Our Order No. 1417? 124 River St. Gust. Order Ila. Hemlad's PA Shipped Via Customer Terms Zfi, WISH m-m Wood Supplies for Desk $450 00 Wood Supplies for Bookcase 75E) DD Wood Supplies for Foot Locker 35 DD Total $1235 DD FORM 20 NO. 407 Pete Schwab 20-104 223 Main Drive 740 Hemlock, PA 18953 December 13 20 XX PAY TO THE ORDER OF Basswood Furniture $ 9,155.75 Nine Thousand One Hundred Fifty Five and 75/100 DOLLARS FOR CLASSROOM USE ONLY Hemlock Federal Credit Union Hemlock, PA 18951-1463 Pete Schwab 066004372: 309141FORM 22 Clean-It-Rite Cleaning Service 11 W. Market St. Hemlock, PA 18952 Invoice No. 03112 Date December 14, 20XX Sold To Basswood Furniture 124 River St. Hemlock, PA DATE DESCRIPTION AMOUNT 12/14/20XX Monthly Store Cleaning $275.00 ALL BILLS DUE 30 DAYS FROM DATE OF INVOICEFAGE GENERAL FRIKNAL CREDIT FR LATE 1 2 15 11 10 12 11 15 G 14 13 15 14 16 17 15Merchandise Inventory Valuation As of November 31, 20XX Item No. Description No. of Items Amount Total Amount DR-0003 Dining Room Set 2 $ 2,500.00 $ 5,000.00 DRS-0005 Dining Room Set 2 $ 2,125.00 $ 4,250.00 DRS-0009 Dining Room Set 2 $ 3,455.00 $ 6,910.00 TBL-0023 Table 4 $ 65.00 $ 260.00 TBL-0037 Table 3 $ 85.00 $ 255.00 CHR-0002 Chairs-4 set 3 $ 90.00 $ 270.00 CHR-0005 Chairs - 6 set 6 $ 120.00 $ 720.00 ETB-0003 End Table $ 45.00 $ 135.00 ETB-0006 End Table 4 $ 55.00 $ 220.00 MGR-0004 Magazine Rack 5 $ 15.00 $ 75.00 WNR-0001 Wine Rack 2 $ 125.00 $ 250.00 LMP-0003 Lamp 5 $ 65.00 $ 325.00 CTB-0007 Coffee Table 6 $ 90.00 $ 540.00 RCH-0001 Rocking Chair 4 $ 85.00 $ 340.00 DRS-0002 Dresser - 8 Drawer 3 $ 235.00 $ 705.00 DRS-0001 Dresser - 10 Drawer 1 $ 275.00 $ 275.00 DRS-0004 Dresser - 12 Drawer 1 $ 295.00 $ 295.00 BRM-0002 Bedroom Set 2 $ 3,250.00 $ 6,500.00 BRM-0003 Bedroom Set 1 $ 3,675.00 $ 3,675.00 HTC-0004 Hutch 4 $ 125.00 $ 500.00 Total inventory value $ 31,500.00

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Managerial Accounting Concepts

Authors: Thomas Edmonds

6th Edition

78110890, 978-0078110894

More Books

Students also viewed these Accounting questions

Question

5. Give some examples of hidden knowledge.

Answered: 1 week ago