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need help with part b on question 1 ixercise 3-9A (Algo) Effect of product cost and period cost: Horizontal statements model LO 3-1, 3-2, 3-4
need help with part b on question 1
ixercise 3-9A (Algo) Effect of product cost and period cost: Horizontal statements model LO 3-1, 3-2, 3-4 The Pet Store expetienced the following events for the Year 1 accounting period: 1. Acquired $100000 cauh fom the issue of common stock 2. Purchased 570000 of invertiony on account. 3. Received poods porchated in Event 2fOA shipping poure freight cost of $1080 paid th cash 4. Sold inventory on occount that cost $50.000 for $95000 5. Fieight cost on the goods sold in Event 4 was $1530. The goods were thpoed fo8 de thration Cath was paid for the fieight cont. 6. Customet in Everi 4 returned $4400 warth of gooch that had a cost of 52.250 7. Collected $77900 canh from ackounts receivable 8. Paid 561000 cath on accourts pay stle 9. Paid 53300 cash fot sobertsing expentue 10. Paid 53820conh for inmarance evpente Required Rocord the above events in a horizontal statement model, in the Cash Flow coluies, use oA to designate operating activity, IA for investment activity. FA for finanding activily, of ne for net change What all celts reguire entryc) Step by Step Solution
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