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I need help with corrections to an assignment. Specifically: December 15th Sales and COGS entries are incorrect. December 24th Sales and COGS entries are incorrect
I need help with corrections to an assignment.
Specifically: December 15th Sales and COGS entries are incorrect. December 24th Sales and COGS entries are incorrect December 31 Sales entry is missing.
15-Dec | Cash | 48.00 | |
Merchandise Sales | 48.00 | ||
15-Dec | Cost of Goods Sold | ||
Merchandise Inventory | |||
20-Dec | Wages Payable | 456.00 | |
Cash | 456.00 | ||
20-Dec | Merchandise Inventory | 122.00 | |
Cash | 122.00 | ||
24-Dec | Cash | 109.60 | |
Merchandise Sales | 109.60 | ||
24-Dec | Cost of Goods Sold | ||
Merchandise Inventory | |||
30-Dec | Merchandise Inventory | 151.25 | |
Cash | 151.25 | ||
31-Dec | Wages Expense | 480.00 | |
Wages Payable | 480.00 | ||
31-Dec | Depreciation Expense | 208.33 | |
Accumulated Depreciation | 208.33 | ||
Interest Expense | 150.00 | ||
Total | 30,308.58 | 30,158.58 |
Information to fill in the table.
15-Dec | Cash (8 x $8.50) | 68.00 | |
Merchandise Sales Revenue | 68.00 | ||
Record sale of inventory | |||
15-Dec | Cost of Goods Sold (8 X $6) | 48.00 | |
Merchandise Inventory | 48.00 | ||
Recorded the cost of goods sold |
24-Dec | Cash (18 x 8.50) | 153.00 | |
Merchandise Sales Revenue | 153.00 | ||
Record sale of inventory | |||
24-Dec | Cost of Goods Sold (2 x $6)+(16 x $6.10) | 109.60 | |
Merchandise Inventory | 109.60 | ||
Recorded the cost of goods sold | |||
30-Dec | Merchandise Inventory (25 x $6.05) | 151.25 | |
Cash | 151.25 |
Purchases | Sales | Ending Inventory | |||||||
Date | No. of Items | Unit Price | Total Price | No. of Items | Unit Price | Total Price | No. of Items | Unit Price | Total Price |
15-Dec | 8 | $ 6.00 | $ 48.00 | 2 | $ 6.00 | $ 12.00 | |||
20-Dec | 20 | $ 6.10 | $ 122.00 | 2 | $ 6.00 | $ 12.00 | |||
20 | $ 6.10 | $ 122.00 | |||||||
22 | $ 134.00 | ||||||||
24-Dec | 2 | $ 6.00 | $ 12.00 | ||||||
16 | $ 6.10 | $ 97.60 | 4 | $ 6.10 | $ 24.40 | ||||
18 | $ 109.60 | ||||||||
30-Dec | 25 | $ 6.05 | $ 151.25 | 4 | $ 6.10 | $ 24.40 | |||
25 | $ 6.05 | $ 151.25 | |||||||
29 | $ 175.65 | ||||||||
Net Inventory | 55 | $ 333.25 | 26 | $ 157.60 | 29 | $ 175.65 | |||
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