Acct 212 week 5 homework Study guides, Class notes & Summaries

1. Question: a. Required: Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit Sales revenue = 450 units × $70 = $31,500 Gross profit = Sales revenue − Cost of goods sold = $31,500 − $24,970 = $6,530 2. Question: b. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Sales revenue = 450 units × $70 = $31,500 Gross profit = Sales revenue − Cost of goods sold = $31,500 − $25,410 = $6090 3. Question: c. Using ...

ACCT 212 Week 5 Homework ACCT 212 Week 5 Homework ACCT 212 Week 5 Homework

ACCT 212 Week 8 Homework Assignment (Summer 2022) 1. Question: Required information [The following information applies to the questions displayed below.] The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below. Required: Prepare a vertical analysis of the balance sheet data for 2022 and 2021. Express each amount as a percentage of total assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.) 2. Question:...

ACCT 212 Week 8 Homework Assignment (Summer 2021) 1. Question: Required information [The following information applies to the questions displayed below.] The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below. Required: Prepare a vertical analysis of the balance sheet data for 2022 and 2021. Express each amount as a percentage of total assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.) 2. Question: Required in...

ACCT 211 Connect Homework Chapter 6 Exercises Liberty University answers complete solutions (latest 2022/2023) Just put your values given in Excel and automatically provide answers for you! Question 1 Waupaca Company establishes a $330 petty cash fund on September 9. On September 30, the fund shows $75 in cash along with receipts for the following expenditures: transportation costs of merchandise purchased, $57; postage expenses, $76; and miscellaneous expenses, $117. The petty cash...

ACCT 212 Week 2 Homework Study Guide. 2. Terrapin Company engages in the following external transactions for November. 1. Purchase equipment in exchange for cash of $22,400. 2. Provide services to customers and receive cash of $4,700. 3. Pay the current month's rent of $1,500. 4. Purchase office supplies on account for $1,400. 5. Pay employee salaries of $1,300 for the current month. Required: Record the transactions. Terrapin uses the following accounts: Cash, Supplies, Equipm...

Question: Accounting records for Allegheny Corporation yield the following data for the year ended June 30, 2018(assume sales returns arenon-existent): Journalize Allegheny’s inventory transactions for the year under the perpetual system.The first transaction is the purchase of inventory. Record the entry. The next transaction is the sale of inventory. Do not yet record the cost related to the sale. We do this in the next journal entry. The last entry is recording the cost of inventory. Rec...

ACCT 212 Week 8 Homework Assignment (Summer 2020) WITH CORRECT ANSWERS ASSURED GRADE A SCORE 1. Question: The comparative income statements of Outdoor Music Co. follow: Calculate the change in the income statement amounts from 2017to 2018.(Use a minus sign or parentheses for a) Compute the dollar amount of change from one period(the base period) to the next. Divide the dollar amount of change by thebase-period (Use a minus sign or parentheses for a decrease. Round percentage changes to t...

Question: Accounting records for Allegheny Corporation yield the following data for the year ended June 30, 2018(assume sales returns arenon-existent): Journalize Allegheny’s inventory transactions for the year under the perpetual system.The first transaction is the purchase of inventory. Record the entry. The next transaction is the sale of inventory. Do not yet record the cost related to the sale. We do this in the next journal entry. The last entry is recording the cost of inventory. Record...

Question: Accounting records for Allegheny Corporation yield the following data for the year ended June 30, 2018(assume sales returns arenon-existent): Journalize Allegheny’s inventory transactions for the year under the perpetual system.The first transaction is the purchase of inventory. Record the entry. The next transaction is the sale of inventory. Do not yet record the cost related to the sale. We do this in the next journal entry. The last entry is recording the cost of inventory. Record...