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Please answer all 4. If you cant please leave it for someone who can. Cheggs policy is 4 question per post not 1. Thank you!!
Please answer all 4. If you cant please leave it for someone who can. Cheggs policy is 4 question per post not 1. Thank you!!
A company purchased inventory for $148,000 from a supplier on account, FOB shipping point, with terms of 3/10,n/30. The company paid $3,200 cash for freight in. The company paid the supplier nine days after the invoice date. If there was no beginning inventory, the cost of inventory would be (Assume a perpetual inventory system.) $144.800 $151,200 $140,360 $146,760 To estimate possible bad debt using the allowance method, the company should Debit Bad Debt Expense and credit Allowance for Uncollectible Accounts Debit Allowance for Uncollectible Accounts and credit Bad Debt Expense O Debit Bad Debt Expense and credit Accounts Receivable Debit Accounts Receivable and credit Cash Baldwin Co. had the following transactions during 2019: Beginning Merchandise Inventory as of January 1, 2019 175 units at $160 March 10 Sold 50 units June 10 Purchased 270 units at $170 October 30 Sold 225 units What is the amount of Cost of Goods Sold for 2019 if the perpetual inventory system and the first-in, first-out inventory costing method are used? $37,000 O $45.000 $73,900 $28,000 Summer Fun Inc. plans to develop a water park. The following amounts were spent: Acquisition of land $90,000 Surveys and legal fees 3,000 Land clearing 4,000 Fencing 10,000 Install lighting and signage 9,300 What amount should be recorded as the cost of the land in the corporation's books? $97.000 $106,300 $107.000 $104,000 Step by Step Solution
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