Homework: Perpetual inventory Homework Perpetual inventory 1. Carla's Coats uses the perpetual inventory system. 1-1: Carla's Coats purchases a coat from Prada for $40,000 on account. The payment terms are 2/10/N/30. The delivery terms are FOB Destination. 1-5: Carla's Coats pays the Prada Payable in cash. 1-18: Bella Barnes Purchases the Coat for $70,000 on account. Required: Prepare the Appropriate Journal Entries and post them to the ledger. 2. Darla's Dresses uses the perpetual inventory system. 7-1: Darla's Dresses purchased a gown from Vera Wang on Account for $20,000. The payment terms are 2/10/N/30. The shipping terms are FOB Shipping Point. 7-1: Pays shipping costs in cash $1,000 7-7: Pays bill to Vera Wang in cash. 7-12: Tara Taylor purchases the Gown for $30,000. 3. Gemma's Gems uses the perpetual inventory System 8-1: Gemma's Gems purchases a diamond bracelet from DeBeers for $100,000,on account. The payment terms are 2/10/N/30. The shipping terms are FOB Shipping Point. 8-1: Pays shipping costs in cash $1,000 8-9: Pays bill in cash to DeBeers 8-15: Sparrow Smith purchases the bracelet for $130,000, on account.

Homework: Perpetual inventory Homework Perpetual inventory 1. Carla's Coats uses the perpetual inventory system. 1-1: Carla's Coats purchases a coat from Prada for $40,000 on 3cc0unt. The payment terms are 2/10/N/30. The delivery terms are FOB Destination. 1-5: Carla's Coats pays the Prada Payable in cash. 1-18: Bella Bames Purchases the Coat for $70,000 on account. Required: Prepare the Appropriate Journal Entries and post them to the ledger. 2. Darla's Dresses uses the perpetual inventory system. 7-1: Darla's Dresses purchased a gown from Vera Wang on Account for $20,000. The payment terms are 2/10/N/30. The shipping terms are FOB Shipping Point. 7-1: Pays shipping costs in cash $1,000 7-7: Pays bill to Vera Wang in cash. 7-12. Tara Taylor purchases the Gown for $30,000. 3. Gemma's Gems uses the perpetual inventory System 8-1: Gemma's Gems purchases a diamond bracelet from DeBeers for $100,000,on account. The payment terms are 2/10/N/30. The shipping terms are FOB Shipping Point 8-1: Pays shipping costs in cash $1,000 8-9: Pays bill in cash to DeBeers 8-15: Sparrow Smith purchases the bracelet for $130,000, on account. Homework: Perpetual inventory Homework Perpetual inventory 1. Carla's Coats uses the perpetual inventory system. 1-1: Carla's Coats purchases a coat from Prada for $40,000 on 3cc0unt. The payment terms are 2/10/N/30. The delivery terms are FOB Destination. 1-5: Carla's Coats pays the Prada Payable in cash. 1-18: Bella Bames Purchases the Coat for $70,000 on account. Required: Prepare the Appropriate Journal Entries and post them to the ledger. 2. Darla's Dresses uses the perpetual inventory system. 7-1: Darla's Dresses purchased a gown from Vera Wang on Account for $20,000. The payment terms are 2/10/N/30. The shipping terms are FOB Shipping Point. 7-1: Pays shipping costs in cash $1,000 7-7: Pays bill to Vera Wang in cash. 7-12. Tara Taylor purchases the Gown for $30,000. 3. Gemma's Gems uses the perpetual inventory System 8-1: Gemma's Gems purchases a diamond bracelet from DeBeers for $100,000,on account. The payment terms are 2/10/N/30. The shipping terms are FOB Shipping Point 8-1: Pays shipping costs in cash $1,000 8-9: Pays bill in cash to DeBeers 8-15: Sparrow Smith purchases the bracelet for $130,000, on account