Applying LCM, NeCo determines that as of Dec. 31, 20x3, merchandise that originally cost $46,300 is now $43,500 at market. a. Make no entry but disclose the loss in a note on the financial statement. b. Make no entry and make no disclosure c. Make an entry to reduce retained earnings. d. Make an entry to increase cost of goods sold

How would Bedrock Wholesale record the October 18 transaction? a. Decrease Cash and increase Inventory b. Decrease Cash and increase Freight Expense c. Increase both Accounts Payable and Freight Expense d. Decrease both Cash and Inventory e. No entry is required. Enter the letter that corresponds to your choice. (A B C D E)         How would Bedrock Wholesale record the October 22 transaction? a. Increase Inventory and decrease Cost of Goods Sold $3,000 each, and decrease Accounts Receivable and increase Sales Returns $2,250 each b. Increase Inventory and decrease Cost of Goods Sold $2,250 each, and decrease Accounts Receivable and increase Sales Returns $3,000 each c. Increase Inventory and decrease Cost of Goods Sold $2,250 each, and decrease Accounts Receivable and increase Sales Returns $2,250 each d. Increase Inventory and decrease Cost of Goods Sold $2,250 each e. Decrease Accounts Receivable and increase Sales Returns $3,000 each Enter the letter that corresponds to your…

Subj. General Account

Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by a minus sign.)

Enter the missing dollar amounts for the income statement for each of the following independent cases. (Hint: In Case B, work from the bottom up.) Net sales revenue Beginning inventory Purchases Goods available for sale Ending inventory Cost of goods sold Gross profit Expenses Pretax income (loss) Case A $ Case B 7,610 $ 11,080 $ 6,650 4,880 10,270 59 $ 290 1,630 15,090 10,920 1,490 Case C $ 6,120 S 3,820 9,430 13,250 4,420 700 $ (490) $ 1,000

Need general account answer

b

Cost Account

Using your accounting knowledge, find the missing amounts in the following separate income statements. (Amounts to be deducted should be indicated by a minus sign.)

Please give correct answer with details explanation