S5-4 – Selling Merchandise
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
Given the merchandise sold and the cost of sales… prepare the journal entries and which company owns the merchandise at the end of the given dates.
Given the merchandise sold and the cost of sales… prepare the journal entries and which company owns the merchandise at the end of the given dates.
Given the accounting tasks for the law firm… create t-accounts and figure out the ending balances.
Given the information on the company’s first year of operations — prepare the journal entry using the percent of sales method, as well as what it should report on the balance sheet.
Given balance, accounts receivable, and a credit balance — calculate the amount of uncollectible account expense using the percent-of-sales and aging-of-receivables method.
Given the information on the loan the state bank lent out to the company — compute the interest for the three years, which party has the given list of things including expenses and revenues, and the amount paid if the note is paid off.