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Please can I get the the partial income statement and the impact on income Prepare journal entries to record the following merchandising transactions of Walker's,
Please can I get the the partial income statement and the impact on income
Prepare journal entries to record the following merchandising transactions of Walker's, which uses the perpetual inventory system and the gross method. (Hint It will help to identify each receivable and payable; for example, record the purchase on July 1 in Accounts Payable-Thompson) Jal. 1 Purchased merchandise from Thompson Company for $7,200 under credit terms of 1/15, n/, FOS shipping point, invoice dated Jul. 2 Sold merchandise to rtitchell Co. for $1,see under credit teres of ne, n/a, ,or shipping point, inruice dated hly , me uly 1 merchandise had cost $9ee. ul. 3 Paid $36s cash for freight charges on the purchase of July 1 ul. 8 Sold eerchandise that had cost $1,709 for 32,909 cash. ul. 9 Purchased serchandise from Mannion Co. for $2,800 under credit terms of 2/1s, n/6, roS destinat ion, Envoice dated July 9. Jul. 11 Received a $600 credit sorandus from Kannion Co. for the return of part of the serchandise purchased on July 9. ul. 12 Recelved the balance due from Mitchell Co. for the invoice dated July 2, net of the discount Jul. 16 Paid the balance due to Thoapson Company within the discount period u1 19 Sold ecrchandise that cost $1,7e0 to Sancher Co for 2,409 under credit teres of 25, ie, FB shipping point, Invoice ul. 21 Issued a $5ee credit nesorandus to Sanchez Co. for an allowance on goods sold on July 19. ul. 24 Paid Mannion Co. the balance due, net of discount Jul. 30 Received the balance due from Sanchez Co. for the invoice dated July 19, net of discount Dul. 31 Sold merchandise that cost H,990 to Mitchell Co. for 58,290 under credit teres of 2/1, /6, shipping point, invoice dated July 3. Schedule ofIncome Impact on Requirement General Ledger Trial Balance Schedule of Receivables Payables Statement Prepare a multiple-step income statement through the calculation of gross prolit. 5 6 7 9 FGHJKL VBNM
Please can I get the the partial income statement and the impact on income
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