Directions: Below are the accounts of Llamado Poultry Supply Store for the year ended June 30, 2020. 1. Create SCI using a multi-step approach. Please make the proper indention of accounts as you write them in the SCI. 2. The indention will serve as your guide in computing and will make your document look formal. Sales P 100,000 Sales Returns and Allowances 1,000 1,500 Sales Discount Merchandise Inventory, Beginning 38,000 Purchases 30,000 Purchase Returns and Allowances. 2,000 Purchase Discount 1,000 Freight-in Merchandise Inventory, Ending 700 20,000 Interest Income 7,000 3,000 12,000 Rent Income Sales Salaries Depreciation Expense - Store Equipment Utilities Expense-Store 9,000 2,000 Office Salaries 12,000 Office Supplies 1,000 Bad Debts 1,300 Finance Cost 2,100

Problem 12: Miss Paki Poot, the bookkeeper of "Mura Lang Bavad Enterprises" has reported the balances of the following accounts on December 31, 2020 at the end of its accounting period. (Gross profit rate is 15% base on sales) Sales Purchases 634,000 478,000 339,000 P Merchandise Inventory, end (physical count) Accounts Receivable 150,000 During your conduct of the cut-off test, you gathered the following information: Transactions related to Sales Date Items 1. Shipped Received Jan. 1, 2021 Jan. 1, 2021 Remarks Terms F.O.B Shipping Point F.O.B Destination F.O.B Shipping Point F.O.B Destination Dec. 31, 2020 Dec. 25, 2020 Dec. 30, 2020 Dec. 30, 2020 Amount 6,000 Recorded as sales in January 15,000 Recorded as sales in December 10,000 20,000 Not recorded as sales in December 25,000 Recorded as sales in December 9,000 Recorded as sales in January 2. 3. Dec. 31, 2020 Recorded as sales in December 4. Jan. 2, 2021 Jan. 4, 2021 Jan. 1, 2021 Transactions related to Purchases 5. F.O.B…

Prepare the entries for transaction below and indicate what journal it is 2 Aug business sold merchandize inventory to micro universe co. For $4800, terms: 3/10, n/60 FOB. The merchandize had cost $3000

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Take me to the text JP Supermarkets bought $2,890 worth of groceries on account from a produce supplier on February 5, 2022. On February 6, JP's bookkeeper was informed that $270 worth of tomatoes was substandard and returned to the supplier. Prepare the journal entry to record the purchase return using the perpetual inventory system. Do not enter dollar signs or commas in the input boxes. Required Prepare the journal entry for JP Supermarkets on February 6. Account Title and Explanation Debit Credit Date 2022 Feb 6 To record the purchase return ÷

Prepare a cost of goods sold schedule (periodic method)

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help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all workingv

Required: Prepare Merchandising Journal Entries using Perpetual and Periodic Inventory System.