9. The following data is for the J.M Paculan Corporation: P600,000 42,000 77,000 Sales revenue Freight in Beginning inventory Purchase discounts Sales returns and allowances 19,000 33,000 77,000 81,000 415,000 35,000 Operating expenses Ending inventory Purchases Sales discounts J.M. Paculan, withdrawals 71,000 Purchase returns and allowances 39,000 The total cost of goods available for sale for the J.M. Paculan Corporation is: a. P489,000 b. P408,000 C. P476,000 d. P441,000 10. The cost of goods sold for J.M. Paculan Corporation is: P524,000 b. P489,000 C. P557,000 d. P395,000 a. 1. The closing process includes crediting the following accounts to bring thein balances to zero: a. allowance for doubtful accounts b. purchases and freight in C. purchase discounts and sales discounts d. purchase returns and allowances and purchase discounts
9. The following data is for the J.M Paculan Corporation: P600,000 42,000 77,000 Sales revenue Freight in Beginning inventory Purchase discounts Sales returns and allowances 19,000 33,000 77,000 81,000 415,000 35,000 Operating expenses Ending inventory Purchases Sales discounts J.M. Paculan, withdrawals 71,000 Purchase returns and allowances 39,000 The total cost of goods available for sale for the J.M. Paculan Corporation is: a. P489,000 b. P408,000 C. P476,000 d. P441,000 10. The cost of goods sold for J.M. Paculan Corporation is: P524,000 b. P489,000 C. P557,000 d. P395,000 a. 1. The closing process includes crediting the following accounts to bring thein balances to zero: a. allowance for doubtful accounts b. purchases and freight in C. purchase discounts and sales discounts d. purchase returns and allowances and purchase discounts
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 22Q: The following is select account information for August Sundries. Sales: $850,360; Sales Returns and...
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