Question

Prepare the items in the journal. In the initial balance there is cash deposited in Banco Atlántida L 365,000.00; in stock: from the purchase of January 4, 200 items Y at a price of L 50.00 c. or. and from January 29, 300 articles Y to L 55.00 c. or. All assets are provided by the company's partners. For the valuation of merchandise, the first-in, first-out method and perpetual inventory system are used. Operations of the month 2 - 400 items are purchased Y for L 50.00 c. u, in the purchase L 800.00 are paid for freight and transportation of the purchased merchandise. 3- 25 Y items from the previous purchase are returned. 4 - Sold according to invoice # 1456, 350 items and at a price of L105.00 each, a discount of L1,050.00 is granted. 6 - Customers return 40 items from the previous sale. The respective check is issued. Existing cash is deposited into the checking account. 7 - According to fact. 1457-1470, 310 items are sold AND at a price of L110.00(c)/(u), a discount of (1)/(2)% is granted. 9- 440 items Y are purchased at a price of L 52.00. They give us a discount of L 2.00 on each item. The purchase generates expenses worth L1,760.00. 10- 260 items are sold Y in L 110.00(c)/(u). 11- From the previous sale they return us 40 items Y. When counting the merchandise, 470 Y items were found. The shortage was charged to the winemaker Luis Eduardo Merlo for not justifying the difference.

77

likes
387 views

Answer to a math question Prepare the items in the journal. In the initial balance there is cash deposited in Banco Atlántida L 365,000.00; in stock: from the purchase of January 4, 200 items Y at a price of L 50.00 c. or. and from January 29, 300 articles Y to L 55.00 c. or. All assets are provided by the company's partners. For the valuation of merchandise, the first-in, first-out method and perpetual inventory system are used. Operations of the month 2 - 400 items are purchased Y for L 50.00 c. u, in the purchase L 800.00 are paid for freight and transportation of the purchased merchandise. 3- 25 Y items from the previous purchase are returned. 4 - Sold according to invoice # 1456, 350 items and at a price of L105.00 each, a discount of L1,050.00 is granted. 6 - Customers return 40 items from the previous sale. The respective check is issued. Existing cash is deposited into the checking account. 7 - According to fact. 1457-1470, 310 items are sold AND at a price of L110.00(c)/(u), a discount of (1)/(2)% is granted. 9- 440 items Y are purchased at a price of L 52.00. They give us a discount of L 2.00 on each item. The purchase generates expenses worth L1,760.00. 10- 260 items are sold Y in L 110.00(c)/(u). 11- From the previous sale they return us 40 items Y. When counting the merchandise, 470 Y items were found. The shortage was charged to the winemaker Luis Eduardo Merlo for not justifying the difference.

Expert avatar
Madelyn
4.7
86 Answers
\begin{array}{ll}\text{Step 1: Initial Balance} & \\\text{ Cash} & L 365,000 \\\text{ Inventory} & 200 \times L 50 + 300 \times L 55 = L 26,500 \\\text{ Capital} & L 391,500 \\\\\text{Step 2: Purchase of Inventory} & \\\text{ Inventory} & 400 \times L 50 = L 20,000 \\\text{ Freight and Transportation} & L 800 \\\text{ Cash} & L 20,800 \\\\\text{Step 3: Return of Inventory} & \\\text{ Cash} & 25 \times L 50 = L 1,250 \\\text{ Inventory} & L 1,250 \\\\\text{Step 4: Sale of Items} & \\\text{ Accounts Receivable} & 350 \times L 105 = L 36,750 \\\text{ Sales} & L 36,750 \\\text{ Sales Discounts} & L 1,050 \\\text{ Accounts Receivable} & L 1,050 \\\text{ Cost of Goods Sold} & 350 \times L 50 = L 17,500 \\\text{ Inventory} & L 17,500 \\\\\text{Step 6: Return of Sold Items} & \\\text{ Sales Returns} & 40 \times L 105 = L 4,200 \\\text{ Accounts Receivable} & L 4,200 \\\text{ Inventory} & 40 \times L 50 = L 2,000 \\\text{ Cost of Goods Sold} & L 2,000 \\\text{ Cash deposit but no amount given} & \\\\\text{Step 7: Sale of Items} & \\\text{ Accounts Receivable} & 310 \times L 110 = L 34,100 \\\text{ Sales} & L 34,100 \\\text{ Sales Discounts} & (1/2\% \times L 34,100) = L 170.50 \\\text{ Accounts Receivable} & L 170.50 \\\text{ Cost of Goods Sold} & 310 \times L 50 = L 15,500 \\\text{ Inventory} & L 15,500 \\\\\text{Step 9: Purchase of Inventory} & \\\text{ Inventory} & 440 \times (L 52 - L 2) = L 22,000 \\\text{ Other Expenses} & L 1,760 \\\text{ Cash} & L 23,760 \\\\\text{Step 10: Sale of Items} & \\\text{ Accounts Receivable} & 260 \times L 110 = L 28,600 \\\text{ Sales} & L 28,600 \\\text{ Cost of Goods Sold} & 260 \times L 50 = L 13,000 \\\text{ Inventory} & L 13,000 \\\\\text{Step 11: Return of Sold Items} & \\\text{ Sales Returns} & 40 \times L 110 = L 4,400 \\\text{ Accounts Receivable} & L 4,400 \\\text{ Inventory} & 40 \times L 50 = L 2,000 \\\text{ Cost of Goods Sold} & L 2,000 \\\text{ (Shortage charged, amount not given)} & \\\\\end{array}

Frequently asked questions (FAQs)
Math question: What is the sine value of the angle 45 degrees on the unit circle?
+
What is the limit as x approaches 2 of (3x² + 5x - 2)?
+
What is the period and amplitude of the function f(x) = cos(x)?
+
New questions in Mathematics
Use the digits of 1,9,2,3 to come up with all the numbers 98 and 95
What is the amount of interest of 75,000 at 3.45% per year, at the end of 12 years and 6 months?
A car that starts from rest moves for 11 min, reaching a speed of 135 km/h, calculate the acceleration it had
The length and breadth of my rectangular vegetable garden is 12,5m and 7,25m respectively. What is the perimeter of the garden?
2. Juan is flying a piscucha. He is releasing the thread, having his hand at the height of the throat, which is 1.68 meters from the ground, if the thread forms an angle of elevation of 50°, at what height is the piscucha at the moment that Juan has released 58 meters of the thread?
1. Suppose we have a good whose quantity supplied changed from 100 to 120 units when the price increased from $10 to $12 per unit. Compute the price elasticity of supply using the midpoint method
Analyze the following situation Juan is starting a new business, he indicates that the price of his product corresponds to p=6000−4x , where x represent the number of tons produced and sold and p It is given in dollars. According to the previous information, what is the maximum income that Juan can obtain with his new product?
What is the r.p.m. required to drill a 13/16" hole in mild steel if the cutting speed is 100 feet per minute?
find all matrices that commute with the matrix A=[0 1]
Suppose you have a sample of 100 values from a population with mean mu = 500 and standard deviation sigma = 80. Given that P(z < −1.25) = 0.10565 and P(z < 1.25) = 0.89435, the probability that the sample mean is in the interval (490, 510) is: A)78.87% B)89.44% C)10.57% D)68.27%
A warehouse employs 23 workers on first​ shift, 19 workers on second​ shift, and 12 workers on third shift. Eight workers are chosen at random to be interviewed about the work environment. Find the probability of choosing exactly five first ​-shift workers.
If X1 and X2 are independent standard normal variables, find P(X1^2 + X2^2 > 2.41)
Find the center coordinates and radius of a circle for an equation written as: 3x2 + 3y2 - 6y = —12× + 24
Congratulations, you have saved well and are ready to begin your retirement. If you have $1,750,000.00 saved for your retirement and want it to last for 40 years, and will earn 10.8% compounded monthly: What is the amount of the monthly distribuion? 216.50 How much interest is earned in retirement?
We have received our p&l statement back from accounts. The board has asked for an innovation hub. What items should we prioritise reviewing to decide if we can afford an innovation hub?
Perform operations with the polynomials P(x) = x3 and Q(x) = 2x2 + x – 3x3 : a) P(x) - Q(x)
Read the “Local Communities as Stakeholders: Does Amazon Really Need Tax Breaks?” example on p. 83 in Ch. 3 of Management: A Practical Introduction. In your response, discuss whether you feel that tax breaks for big companies benefit local communities. Describe ways to attract business to a region without having a negative impact on the larger community.
P 13. Let P a point inside of a square ABCD. Show that the perpendicular lines drawn from A, B, C, respectively D, to BP, CP, DP, respectively AP are concurrent. Use geometric rotation.
8. Measurement Jillian measured the distance around a small fish pond to be 27 yards. What would be a good estimate of the distance across the pond: 14 yards, 9 yards, or 7 yards? Explain how you decided.
Find the number of liters of water needed to reduce 9 liters of lotion. shave containing 50% alcohol to a lotion containing 30% alcohol.