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On December 1 , 2 0 2 2 , Matthias Company had the following account balances. The following transactions occurred during December. Dec. 3 Purchased
On December Matthias Company had the following account balances. The following transactions occurred during December. Dec. Purchased units of inventory on account at a cost of $ per unit. Sold units of inventory on account for $ per unit. Matthias sold of the $ units and of the $ Granted the December customer $ credit for units of inventory returned costing $ These units were returned to inventory. Purchased units of inventory for cash at $ each. Sold units of inventory on account for $ per unit. Matthias sold of the $ units. Adjustment data: Accrued salaries payable $ Depreciation $ per month. a Journalize the December transactions. b Enter the December balances in the ledger Taccounts and post the December transactions. In addition to the accounts mentioned above, use the following additional accounts: Cost of goods sold, depreciation expense, salaries and wages expense, salaries and wages payable, sales revenue, and sPales returns and allownances. c Prepare an adjusted trial balance as of December d Prepare an income statement December D Prepare a classified balance sheet at December e compute ending inventory and cost of goods sold under FIFO, assuming Matthias Company uses the periodic invetory system. f Compute ending invetory and cost of goods sold under LIFO, assuming Matthias Company uses the periodic inventory system.
On December Matthias Company had the following account balances.
The following transactions occurred during December.
Dec. Purchased units of inventory on account at a cost of $ per unit.
Sold units of inventory on account for $ per unit. Matthias sold of the $ units and of the
$
Granted the December customer $ credit for units of inventory returned costing $ These units were
returned to inventory.
Purchased units of inventory for cash at $ each.
Sold units of inventory on account for $ per unit. Matthias sold of the $ units.
Adjustment data:
Accrued salaries payable $
Depreciation $ per month.
a
Journalize the December transactions. b Enter the December balances in the ledger Taccounts and post the December transactions. In addition to the accounts mentioned above, use the following additional accounts: Cost of goods sold, depreciation expense, salaries and wages expense, salaries and wages payable, sales revenue, and sPales returns and allownances. c Prepare an adjusted trial balance as of December d Prepare an income statement December D Prepare a classified balance sheet at December e compute ending inventory and cost of goods sold under FIFO, assuming Matthias Company uses the periodic invetory system. f Compute ending invetory and cost of goods sold under LIFO, assuming Matthias Company uses the periodic inventory system.
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