You we had to weal the questions in the proposed two This tak e s the following lang outcomes W ythes in the counting Demonte r ing of the balance sheet and the countington A d d to prepare an incomestamendastofnun CASE (300 Dig Wes c omputer peripher company made only one purchase and Al Deceber 31, 2018, the company's inventory mounted to $800 000 During the year 2019, the was. These transactions were as follows January 17 Purchased merchandise from PC Universe. The price of the merchandise was 340.000 discount forms 2/10140 February 15 Pathe accounts payablet PC Universe March 25 Sold merchandise to Best Buy for $450.000 who paid cash. The cost of these tems was $210.000 December 18 Sold equipment to Shore Pharmaceutical for $525.000. The cost of adequipment was $330.000, with discount forms 3/100 Said invoice was still unpaid at December 31, 2019 Instructions Prepare journal enties to record these transactions, assuming that Digital W ards use a perpetual inventory wstom Provide with a developed explanation of the different entries and a c tion of the amounts recorded. 10 points for the entries, 10 points for the explanations . Compute the ending balance in the inventory account the dose of business on December 31. Explain your answer points for the ent . 5 points for the explanations) G. Prepare the company's income statement for the year 2019 taking into account that the remaining expenses of the company during the whole year amounted to 0.500 (10 points Explain the entries of the income statement and in particular the effects of the discount forms on the opens where applicable 20 points) d. Explain the main differences between the perpetual and periodic inventory system and record the transactions using a periodic inventory System 10 points for the entre 10 points for the explanations) Prepare the companys al balance at January 1, 2020 taking into account a Balance sheet at January 1, 2019 as follows: 20 pont Digital Wizards Balance Sheet January 1, 2019 Inventory Equiment Acum depreciation Equipment Land Building Accumulated depreciation Building 1000000 638.000 Retained carings 638.000 1.638.000 You we had to weal the questions in the proposed two This tak e s the following lang outcomes W ythes in the counting Demonte r ing of the balance sheet and the countington A d d to prepare an incomestamendastofnun CASE (300 Dig Wes c omputer peripher company made only one purchase and Al Deceber 31, 2018, the company's inventory mounted to $800 000 During the year 2019, the was. These transactions were as follows January 17 Purchased merchandise from PC Universe. The price of the merchandise was 340.000 discount forms 2/10140 February 15 Pathe accounts payablet PC Universe March 25 Sold merchandise to Best Buy for $450.000 who paid cash. The cost of these tems was $210.000 December 18 Sold equipment to Shore Pharmaceutical for $525.000. The cost of adequipment was $330.000, with discount forms 3/100 Said invoice was still unpaid at December 31, 2019 Instructions Prepare journal enties to record these transactions, assuming that Digital W ards use a perpetual inventory wstom Provide with a developed explanation of the different entries and a c tion of the amounts recorded. 10 points for the entries, 10 points for the explanations . Compute the ending balance in the inventory account the dose of business on December 31. Explain your answer points for the ent . 5 points for the explanations) G. Prepare the company's income statement for the year 2019 taking into account that the remaining expenses of the company during the whole year amounted to 0.500 (10 points Explain the entries of the income statement and in particular the effects of the discount forms on the opens where applicable 20 points) d. Explain the main differences between the perpetual and periodic inventory system and record the transactions using a periodic inventory System 10 points for the entre 10 points for the explanations) Prepare the companys al balance at January 1, 2020 taking into account a Balance sheet at January 1, 2019 as follows: 20 pont Digital Wizards Balance Sheet January 1, 2019 Inventory Equiment Acum depreciation Equipment Land Building Accumulated depreciation Building 1000000 638.000 Retained carings 638.000 1.638.000
