Homework 26 1 7 5 Points Book Ha Pr References The Pet Store Experienced The Following Events For The Year 1 Accounting 1 (30.1 KiB) Viewed 36 times
Homework 26 1 7 5 Points Book Ha Pr References The Pet Store Experienced The Following Events For The Year 1 Accounting 2 (16.09 KiB) Viewed 36 times
Homework #26 1 7.5 points book HA Pr References The Pet Store experienced the following events for the Year 1 accounting period: 1 Acquired $60,000 cash from the issue of common stock. 2. Purchased $66,000 of inventory on account. 3. Received goods purchased in Event 2 FOB shipping point; transportation cost of $980 paid in cash. 4. Sold Inventory on account that cost $34,000 for $63,000. 5. Transportation cost on the goods sold in Event 4 was $1,420. The goods were shipped FOB destination. Cash was paid for the transportation cost. 6. Customer in Event 4 returned $5,640 worth of goods that had a cost of $2,870. 7. Collected $51,660 cash from accounts receivable. 8. Paid $55,200 cash on accounts payable. 9. Paid $3,490 for advertising expense. 10. Paid $4,060 cash for insurance expense. Required a. Which of these events affect period (selling and administrative) costs? Which result in product costs? if neither, label the transaction NA Check my w
eBook HIM a. Which of these events affect period (selling and administrative) costs? Which result in product costs? If neither, label the transaction NA Transaction. 1. 2 3 4. 5. 6. 7. 8. 9. 10 Cost
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