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Posted on Sep 04, 2024

If kindly anyone can help?that would be great! 4.RETAIL CYCLE with Retail Perpetual Inventory with a Mark Up of 1.9Sec4October 2, 2020h Bellmead Auto Repair

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4.RETAIL CYCLE with Retail Perpetual Inventory with a Mark Up of 1.9Sec4October 2, 2020h Bellmead Auto Repair & HOSPITAL Balance Sheet December 31, 20X7 ASSETS LIABILITIES Cash $116.000 Accounts payable S 509,000 Accounts receivable 8,000 INVENTORY 600,000 OWNER'S EQUITY Petty cash Fund 1,000 Owner, capital 17,000 Building 0 Common Stock 199,000 Total liabilities and Total assets $725.000 owner's equity $725.000 Bellmead Auto Repair & HOSPITAL Statement of Owner's Equity (SSE) Year Ended December 31, 20X7 Owner, capital (Retained Earning), December 31, 20X6 Add: Net income for the year $13,000 40,000 53,000 (36.000) Less: Withdrawals or Dividens Owner, capital(Retained Earning), Dec 31, 20X7 Common Stock $17.000 199.000 216.000 Total Owners Equity Prepare Journals, T Accounts, TRIAL BALANC E and INCOME STATEMENT, and BALANCE SHEET for Year DEC31, 20X8, 2. RETAIL PERPETUAL INVENTORY SYSTEM: Purchased 300k in merchandise en account, Discount 4/10, net 20. On 11/20/14. Not Paid yet b. DR SecOctober 2, 2021 RETAIL PERPETUAL INVENTORY SYSTEM: Bocicod 33% in merchandise freight on account, Merchandise was FOB DB (Dubai). d. DR c. De 6.RETAIL PERPETUAL INVENTORY SYSTEM: Returned 76 in merchandise purchased 11/22/14 on account, Merchandise was FOB DB Dubai). b. DR c. Dr RETAIL PERPETUAL INVENTORY SYSTEM: Paid the 532 Fright invoice with a s2k deduction Prepare Journals, T Accounts, TRIAL BALANC E and INCOME STATEMENT, and BALANCE SHEET for Year DEC31, 20X8, 2. RETAIL PERPETUAL INVENTORY SYSTEM: Purchased 300k in merchandise on account, Discount 4/10.net 20. On 11/20/14. Not Paid yet. . DR SecOctober 2, 20201 BRETAIL PERPETUAL INVENTORY SYSTEM: Booked 32k in merchandise freight ce account, Merchandise was FOB DBDubai). c. De d. DR CRETAIL PERPETUAL INVENTORY SYSTEM: Returned 76k in merchandise purchased 11/22/14 cm account Merchandise was FOB DB (Dubai). DR RETAIL PERPETUAL INVENTORY SYSTEM: Paid the $32k Fright invoice with a se deduction of freight allowance found by HOWARD GLICK Associates, KABUL d. De c. DR RETAIL PERPETUAL INVENTORY SYSTEM: Paid the Purchase 300k in merchandise ce account, Discount 4/10.net 20. taken. Os 11/24/14. Now Paid. Dr DR DR E RETAIL PERPETUAL INVENTORY SYSTEM: Sold merchandise RETAIL with a 19 MARK UP which costed $337k @cost Merchandise & ReTAIL was sold to RETAIL customer on account with 125k in cash, Sk cash discount est charged to accounts recevable. b. CR c. DR d. CR h.RETAIL PERPETUAL INVENTORY SYSTEM: Retured 99k (Retail)in merchandise because the quality was wrong, and Suk (Retail) merchandise allowance because color was wrong Sold merchandise RETAIL with a 19 MARK UP on account a. De h. CR c. DR CR PREPARE JOURNAL ENTRIES, TRI ALBALANCE of GENERAL JOURNAL, TRIAL BALANCE of Accounts, Reversing entries, RETAIL PERPETUAL INVENTORY SYSTEM INCOME STATEMENT and Balance Sheet SecOctober 2, 20201 4.RETAIL CYCLE with Retail Perpetual Inventory with a Mark Up of 1.9Sec4October 2, 2020h Bellmead Auto Repair & HOSPITAL Balance Sheet December 31, 20X7 ASSETS LIABILITIES Cash $116.000 Accounts payable S 509,000 Accounts receivable 8,000 INVENTORY 600,000 OWNER'S EQUITY Petty cash Fund 1,000 Owner, capital 17,000 Building 0 Common Stock 199,000 Total liabilities and Total assets $725.000 owner's equity $725.000 Bellmead Auto Repair & HOSPITAL Statement of Owner's Equity (SSE) Year Ended December 31, 20X7 Owner, capital (Retained Earning), December 31, 20X6 Add: Net income for the year $13,000 40,000 53,000 (36.000) Less: Withdrawals or Dividens Owner, capital(Retained Earning), Dec 31, 20X7 Common Stock $17.000 199.000 216.000 Total Owners Equity Prepare Journals, T Accounts, TRIAL BALANC E and INCOME STATEMENT, and BALANCE SHEET for Year DEC31, 20X8, 2. RETAIL PERPETUAL INVENTORY SYSTEM: Purchased 300k in merchandise en account, Discount 4/10, net 20. On 11/20/14. Not Paid yet b. DR SecOctober 2, 2021 RETAIL PERPETUAL INVENTORY SYSTEM: Bocicod 33% in merchandise freight on account, Merchandise was FOB DB (Dubai). d. DR c. De 6.RETAIL PERPETUAL INVENTORY SYSTEM: Returned 76 in merchandise purchased 11/22/14 on account, Merchandise was FOB DB Dubai). b. DR c. Dr RETAIL PERPETUAL INVENTORY SYSTEM: Paid the 532 Fright invoice with a s2k deduction Prepare Journals, T Accounts, TRIAL BALANC E and INCOME STATEMENT, and BALANCE SHEET for Year DEC31, 20X8, 2. RETAIL PERPETUAL INVENTORY SYSTEM: Purchased 300k in merchandise on account, Discount 4/10.net 20. On 11/20/14. Not Paid yet. . DR SecOctober 2, 20201 BRETAIL PERPETUAL INVENTORY SYSTEM: Booked 32k in merchandise freight ce account, Merchandise was FOB DBDubai). c. De d. DR CRETAIL PERPETUAL INVENTORY SYSTEM: Returned 76k in merchandise purchased 11/22/14 cm account Merchandise was FOB DB (Dubai). DR RETAIL PERPETUAL INVENTORY SYSTEM: Paid the $32k Fright invoice with a se deduction of freight allowance found by HOWARD GLICK Associates, KABUL d. De c. DR RETAIL PERPETUAL INVENTORY SYSTEM: Paid the Purchase 300k in merchandise ce account, Discount 4/10.net 20. taken. Os 11/24/14. Now Paid. Dr DR DR E RETAIL PERPETUAL INVENTORY SYSTEM: Sold merchandise RETAIL with a 19 MARK UP which costed $337k @cost Merchandise & ReTAIL was sold to RETAIL customer on account with 125k in cash, Sk cash discount est charged to accounts recevable. b. CR c. DR d. CR h.RETAIL PERPETUAL INVENTORY SYSTEM: Retured 99k (Retail)in merchandise because the quality was wrong, and Suk (Retail) merchandise allowance because color was wrong Sold merchandise RETAIL with a 19 MARK UP on account a. De h. CR c. DR CR PREPARE JOURNAL ENTRIES, TRI ALBALANCE of GENERAL JOURNAL, TRIAL BALANCE of Accounts, Reversing entries, RETAIL PERPETUAL INVENTORY SYSTEM INCOME STATEMENT and Balance Sheet SecOctober 2, 20201