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CHAPTER 5jn.docx

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Department
Administration
Course Code
ADM1340
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All

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CHAPTER 5EXERCISE 53aSept2Merchandise Inventory 75201500Accounts Payable150010Accounts Payable40Merchandise Inventory4011Accounts Receivable 2630780Sales780Cost of Goods Sold 2620520Merchandise Inventory52014Sales Returns and Allowances30Accounts Receivable30Merchandise Inventory20Cost of Goods Sold2021Accounts Receivable 3030900Sales900Cost of Goods Sold 3020600Merchandise Inventory60029Accounts Payable 1500401460Cash146030Cash 9009891Sales Discounts 90019Accounts Receivable900EXERCISE 53 ContinuedbMerchandise InventorySept 1Bal200Sept10402150011520142021600Sept 30 Bal560Cost of Goods SoldSept 11520Sept 142021600Sept 30 Bal1100cNumber of calculators at September 30107522613028Cost of calculators at September 302820560EXERCISE 58aBLUE DOOR CORPORATIONIncome Statement SinglestepYear Ended December 31 2012Revenues Sales2400000LessSales returns and allowances41000Sales discounts850049500Net sales2350500Interest revenue 30000Rent revenue 240002404500ExpensesCost of goods sold1085000Salaries expense675000Depreciation expense125000Interest expense70000Advertising expense55000Freight out25000Insurance expense15000 2050000Profit before income tax354500Income tax expense70000Profit284500
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