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)
Question: A triangle has side lengths of 5cm, 6cm, and 7cm. What is its area using Heron's Formula?
+
What is the length of the hypotenuse if the two legs of a right triangle have lengths 5 and 12?
+
Question: In a right triangle, if the cos(A) = 0.6, what is the value of sin(A)?
+
New questions in Mathematics
Since one of the three integers whose product is (-60) is (+4), write the values that two integers can take.
Revenue Maximization: A company sells products at a price of $50 per unit. The demand function is p = 100 - q, where p is the price and q is the quantity sold. How many units should they sell to maximize revenue?
what is 456456446+24566457
Derivative of x squared
The sum of two numbers is 6, and the sum of their squares is 28. Find these numbers exactly
Suppose X has a Poisson distribution, with a mean of 0.4. Determine the probability that x is at most 2.
Moaz wanted to test whether the level of headache pain (on a scale of 1 – 10) changes after taking Advil. He collected data from 9 participants and calculated the difference in headache pain before and after taking Advil (summarized in the table below). Determine W observed for this test. Difference Scores -2 -4 0 +1 +3 -2 0 -3 -5 Also, What is the degrees of freedom for this test?
Supposed 60% of the register voters in a country or democrat. If a sample of 793 voters is selected, what is the probability that the sample proportion of Democrats will be greater than 64% round your answer to four decimal places
Identify a pattern in the list of numbers.Then use this pattern to find the next number. 37,31,25,19,13
A merchant can sell 20 electric shavers a day at a price of 25 each, but he can sell 30 if he sets a price of 20 for each electric shaver. Determine the demand equation, assuming it is linear. Consider (P= price, X= quantity demanded)
A stunt man jumps horizontally from a building to the roof of a garage that is 2 meters lower. How fast does he need to be to land on the roof of the said garage that is 3 meters away from the building?
Two minus log 3X equals log (X over 12)
Find the complement and supplement angles of 73
2x2
36 cars of the same model that were sold in a dealership, and the number of days that each one remained in the dealership yard before being sold is determined. The sample average is 9.75 days, with a sample standard deviation of 2, 39 days. Construct a 95% confidence interval for the population mean number of days that a car remains on the dealership's forecourt
To find the increased amount on a standard term deposit with the following conditions: starting amount: BGN 13000, type of deposit: annual, annual compound interest rate: 1.4%, after 4 years;
You buy a $475,000 house and put 15% down. If you take a 20 year amortization and the rate is 2.34%, what would the monthly payment be?
Solve for z: 2z-6=10z+2
3(x-4)=156
The domain of the function f(x)=x+7x2−144 is (−∞,), ( ,), and ( , ∞).