Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please read all of instructions and answer in the form of the second picture here is where to put the part 2 of the question

please read all of instructions and answer in the form of the second picture
image text in transcribed
image text in transcribed
here is where to put the part 2 of the question sorry for not adding into orginal posf
image text in transcribed
The Paddling Company made purchases of a particular product in the current year as follows: Jan 1 Beginning Inventory 140 units @ $25.00 $ 3,500 June 15 Purchased 86 units @ $28.00 $ 2,408 Nov. 20 Purchased 365 units $33.00 $12,045 elele The Paddling Company made sales on the following dates at a selling price of $72 per unit: Feb. 15 34 units June 22 76 units Dec 14 103 units 213 units Total Instructions: The business uses a perpetual inventory system 1. Use Moving Weighted Average to determine the costs that should be assigned to the ending inventory and to Cost of Goods Sold. Make sure that you complete the Totals of the columns for the Units and Total Cost for each section of the worksheet. The row for totals is located at the bottom of the worksheet. Use the data entry form located in the Learn Assessment Dropbox or the Learn Content assignment section for Module 6. 2. Using information from your answers in Part 1, prepare the journal entries for the credit sale to Blue Jay Company on June 22 and the credit purchase on November 20 from Bunny Co Use the General Journal data entry worksheet on the data entry form located in the Learn Assessment Dropbox or the Learn Content assignment section for Module 6. Weighted Average perpetual 10 Code Thomas Www Calculation Total Cou Co Merchant Union Total 1 C Unit C Total cual Dale Jan SE 18 Jun 15 12 20 (21 Cinza Now 20 2 2 Dec 1 30 31 - Cost of good vible for sale Cost of good sold Ending inventory JE 0 41 O Part 1 General Journal Account Titles Date Debit Credit 7 8 9 10 11 12 13 14 15 15 17 19 20 21 22 23 24 25 Deduct 27 20 29 30 31 32 33 34 35 36 37 38 39 40 41 Q1 Part 01 Part 2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Practical Guide To Accountancy

Authors: Ajit Kumar Chattopadhyay, Amalendu Mukhopadhyay

1st Edition

1642874264, 9781642874266

More Books

Students also viewed these Accounting questions