please i have only 40 minutes to solve this homework.
Putter's Paradise carries an inventory of putters and other golf clubs. The sales price of each putter is $105. Company records indicate the following for a particular line of Putter's Paradise's putters: DATE ITEM QUANTITY UNIT COST $60 NOV 1 BALANCE 6 SALE 8 PURCHASE 17 SALE 30 SALE 22 12 25 25 3 $81 REQUIREMENTS: 1. Prepare Putter's Paradise's perpetual inventory record for the putters assuming Putter's Paradise uses the weighted average inventory costing method.Then identify the cost of ending inventory and 2.Journalize Putter's Paradise's inventory transactions using the weighted average inventory costing method. B D E Journalize the following sales transactions for Aim High Archery using the periodic inventory system. Aug 1 Sold $7,100 of equipment on account, credit terms are 3/10, n/30. 3 Received a $400 sales retum on damaged goods from the customer. Aim High receives payment from the customer on the amount due from 8 Aug. 1. 15 Sold $2,000 of equipment on account, credit terms are 3/10, n/45, FOB destination, 15 Aim High paid $90 on freight out. 20 Aim High negotiated a $600 allowance on the goods sold on Aug. 15. 24 Receives payment from the customer on the amount due from Aug. 15. The unadjusted trial balance of Newport Inn Company at December 31, 2016, and the data needed for the adjustments follow Newport Inn Company Unadjusted Trial Balance December 31, 2016 s Adjustment data at December 31 follow: As of December 31, Newport had 5600 of Prepaid insurance remaining D. At the end of the month, Newport had $700 of office supplies remaining e Depreciation on the building is $3.500 d. Newport pays to employees weekly on Friday, its employees cam $1.500 for a live-day workweek. December 31 fals on Wednesday this year ..On November 20, Newport contracted to perform services for a client receiving $2.500 in advance. Newport recorded this receipt of cash as Uneamed Revenue. As of December 31. Newport has $1.500 stuneamed. Account Title Cash Accounts Receivable Prepaid Insurance Office Supplies Balance Debit Credit 11900 11900 3500 1100 515000 Building Accumulated Depreciation Building Accounts Payable Unearned Revenue Capital Withdrawals Service Revenue 350000 4500 2500 175620 2170 18200 REQUIREMENTS A) Post the transactions from the unadjusted trial balance to the accounts in the ledger B) Record adjusting entries in the general journal and post the accounts in the ledger C) Prepare a adjusted trial balance, income statement, statement of owner's equity and balance sheet. D) Record closing entries in the general journal and post the accounts in the ledger. 2500 Salaries Expense Advertising Expense TOTAL 750 550820 550820 T-TABLES 03 OWNER'S E 03 INCOME STATEMENT Q3 TRIAL BALANCE
