please help asap i dont have much time thanks
Question 1) Siogo Shoes has the following transactions in February: Feb 5 Siogo Shoes purchased 100 pairs of shoes at the price of $50 each pair on account, terms 5/10, n/30. Feb 8 Sole Mates returned 20 pairs of shoes to the seller because they were the wrong size. Feb 15 Sole Mates paid the remaining balance due to Siogo Shoes. Required: 1- Assuming Siego Shoes uses perpetual inventory system and gross method, please journalize the transactions. (15 points) 2- Assuming Siego Shoes uses perpetual inventory system and net method, please journalize the transactions the transactions. (15 points) Question 2) (25 points) Decorative Steel has the following information: Beginning Inventory Jan1, 2016: $600,000 Purchases made during the year 2016: $1,200,000 Ending Inventory on December 31, 2016: .$500,000 Required: Compute cost of goods sold for the year 2016 assuming the company uses a periodic inventory system and post the journal entry got December 31, 2016. Question 3) (30 points). At December 31, 2019 CROWD Co. has the following inventory information for 2019. CROWD Co. Units S Unit 5.25 S Total 525,00 Date Beginning Inventory Purchases: 100 300 5.30 1.590,00 S/Total CROWD Co. Units 100 $ Date Beginning Inventory Purchases: S/Unit 5,25 525,00 300 Jan. 3 5,30 1.590,00 June 20 150 5,60 840,00 200 Sept. 15 5.80 1.160,00 150 5.90 885.00 Nov. 29 Goods Available for Sale ? Ending Inventory 350 Cost of Goods Sold Required: The company is using periodic inventory method and FIFO. Calculate the following indicated as '?' in the above table: Goods available for sale in number of units b) Value (S amount) of goods available for sale Ending inventory in number of units Value (S amount) of ending inventory Cost of good sold in number of units Value (S amount) of COGS (answers without detail computation will not be considered). Question 4. (25 points) RTN purchases a new machine that costs $ 48.000. The machine has a residual value of $ 3.000 and estimate useful life of 5 years. Required: Using declining-balance method, calculate the depreciation for the next five years