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help how to solve this problem #3 and #4. please can someone help me solve it entirely? 2 2 3 THE FOLLOWING INDEPENDENT CASES PERTAIN
help how to solve this problem #3 and #4. please can someone help me solve it entirely?
2 2 3 THE FOLLOWING INDEPENDENT CASES PERTAIN TO 2010 CALENDER-YEAR ACCOUNTING PERIOD: 4 CASE A 5 5 6 6 7 CASH ACCOUNT RECEIVABLE PREPAID INSURANCE SUPPLIES OTHER ASSETS TOTAL ASSETS CASE B CASE C CASE D CASE E 100000 40000 100000 25000 45000 40000 45000 10000 3000 5000 5000 7000 15000 160000 115000 80000 230000 265000 177000 12500 3000 5000 200000 238500 8 9 10 11 24000 35000 12 13 15000 18000 5000 ACCOUNTS PAYABLE WAGES PAYABLE NOTE PAYABLE TOTAL PAYABLE 60000 10000 30000 100000 14 20000 49000 45000 95000 20000 40000 15 16 17 110000 120000 50000 18 19 110000 20000 10000 232000 100000 20000 5000 COMMON STOCK BEG RETAINED EARNINGS DIVIDEND REVENUE EXPENSE TOTAL STOCK HOLDER'S EQ TOTAL LIAB AND EQUITY 20 30000 211000 156000 25000 40000 85000 65000 135000 21 22 60000 99000 80000 177000 265000 189500 23 275000 177000 24 25 26 INSTRUCTIONS: DETERMINE THE MISSING AMOUNT 27 28 29 12:35 M 31 C D E G K L M N 1 2 PROBLEM 4 (15 points) The following transactions were selected from among those completed by the Lampco Inc. during October of the current year: 3 4 5 6 October 3. Purchased merchandise on account from Axel Co., list price $15,000 trade discount 15%, terms FOB destination, 1/10, n/30. 7 B 6. Sold merchandise on account to Hart Co., list price $20,000 trade discount 20%, terms 2/10, n/30 at 20% gross profit. TO 11 12 13 7. Returned $4,000 of the merchandise purchased on September 3 from Axel Co. 12. Sold merchandise on account to Abc company, $ 8000 at 20% gross profit. 14 15 16 17 13. Paid Axel Co. on account for purchase of September 3, less return of September 7. 16. Received cash on account from sale of September 6 to Hart Co. 1a 19 20 21 24. Sold merchandise to Wilcox Co., $7,500 terms 1/10, n/30 at 30% gross profit. sold 26. Sold merchandise for cash, $8,000 at 15% gross profit. 22 23 24 30. Received merchandise returned by Wilcox Co. from sale on September 24, $2,000 25 22 30. Purchased merchandise from EFG Company, list price $ 8000 trade discount 20%, terms FOB Shipping Point 28 29 Instructions: Journalize the transactions for the Lampco Inc. 30 31 32 33 34 35
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