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Natalie is busy establishing both divisions of her business ( cookie classes and mixer sales ) and completing her business degree. Her goals for the
Natalie is busy establishing both divisions of her business cookie classes and mixer sales and completing her business degree. Her goals for the next months are to sell one mlxer per month and to glve two to three classes per week. The cost of the fine European mixers is expected to increase. Natalle has just negotlated new terms with Kzinski that include shipping costs in the negotlated purchase priee mixers will be shipped FOB destination but the supplier cannot guarantee the invoice price. Natalie has decided to use a perlodic inventory system and now must choose a cost flow assumption for her mlxer inventory. The following transactions occur in February to May Feb. Natalie buys two deluxe mixers on account from Kzinski Supply Co for $$ each FOB destination, terms She sells one deluxe mixer for $ cash. She pays the amount owed to Kzinski. Mar. She buys one deluxe mixer on account from Kzinski Supply Co for $ FOB destination, terms Natalie sells two deluxe mixers for a total of $ cash. She pays the amount owed to Kzinski. Apr. She buys two deluxe mixers on account from Kziaski Supply Co for $$ each FOB destination, terms n She sells three deluxe mixers for a total of $ cash: Natalie pays the amount owed to Kzinski: May She burys three deluxe mixers on account from Kzinski Supply Ca for $ $ each FOB destination, terms n She sells one deluxe mixer for $ cash. a Prepare journal entries for each of the transactions. Credit occount titles are qutomatically indented when amount is entered. Do not indent manually. Record joumal entries in the order presented in the problem. List all debit entries before creditentries if no entry is required, select No Entry" for the account titles and enter O for the amounts
Natalie is busy establishing both divisions of her business cookie classes and mixer sales and completing her business degree. Her goals for the next months are to sell one mlxer per month and to glve two to three classes per week.
The cost of the fine European mixers is expected to increase. Natalle has just negotlated new terms with Kzinski that include shipping costs in the negotlated purchase priee mixers will be shipped FOB destination but the supplier cannot guarantee the invoice price. Natalie has decided to use a perlodic inventory system and now must choose a cost flow assumption for her mlxer inventory.
The following transactions occur in February to May
Feb. Natalie buys two deluxe mixers on account from Kzinski Supply Co for $$ each FOB destination, terms
She sells one deluxe mixer for $ cash.
She pays the amount owed to Kzinski.
Mar. She buys one deluxe mixer on account from Kzinski Supply Co for $ FOB destination, terms
Natalie sells two deluxe mixers for a total of $ cash.
She pays the amount owed to Kzinski.
Apr. She buys two deluxe mixers on account from Kziaski Supply Co for $$ each FOB destination, terms n
She sells three deluxe mixers for a total of $ cash:
Natalie pays the amount owed to Kzinski:
May She burys three deluxe mixers on account from Kzinski Supply Ca for $ $ each FOB destination, terms n
She sells one deluxe mixer for $ cash.
a
Prepare journal entries for each of the transactions. Credit occount titles are qutomatically indented when amount is entered. Do not indent manually. Record joumal entries in the order presented in the problem. List all debit entries before creditentries if no entry is required, select No Entry" for the account titles and enter O for the amounts
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