Fiscal Year 2021 Transactions Month January Day 15 SUV Tent Systems to Camping World on Sold 1,000 units account Sales Price/Unit COGS/Unit 650 275 January 30 Sold 2,500 units Truck Tent Systems to Cabela's account on Sales Price/Unit COGS/Unit 850 325 January 31 Paid monthly employee salaries 42,000 February 12 Received payment from Camping World 650,000 February 17 Purchased inventory from supplier in Alaska 1,000,000 on account February 28 Paid monthly employee salaries 42,000 March Received payment from Cabela's 2,125,000 March 10 Paid supplier in Alaska for February purchase 1,000,000 March 25 Sold 3,000 units Car Tent Systems to Scheels on account Sales Price/Unit COGS/Unit 550 250 March 31 Paid monthly employee salaries 42,000 %24

Fiscal Year 2021 Transactions Month January Day 15 SUV Tent Systems to Camping World on Sold 1,000 units account Sales Price/Unit COGS/Unit 650 275 January 30 Sold 2,500 units Truck Tent Systems to Cabela's account on Sales Price/Unit COGS/Unit 850 325 January 31 Paid monthly employee salaries 42,000 February 12 Received payment from Camping World 650,000 February 17 Purchased inventory from supplier in Alaska 1,000,000 on account February 28 Paid monthly employee salaries 42,000 March Received payment from Cabela's 2,125,000 March 10 Paid supplier in Alaska for February purchase 1,000,000 March 25 Sold 3,000 units Car Tent Systems to Scheels on account Sales Price/Unit COGS/Unit 550 250 March 31 Paid monthly employee salaries 42,000 %24

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 12EB: Drainee purchases direct materials each month. Its payment history shows that 65% is paid in the...

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1. Jorasmi Enterprise Trial Balance as at 31 December 2020 Credit RM Particulars Debit RM Inventory of raw materials 1 Jan 2020 Inventory of finished goods 1 Jan 2020 Work in progress 1 Jan 2020 Wages (direct RM180,000, factory indirect RM145,000) Royalties Carriage inwards (on raw materials) Purchases of raw materials Productive machinery (cost RM280,000) 21,000 38,900 13,500 325,000 7,000 3,500 370 000 230.000 12,000 31,000 7,500 13,700 44,000 Administration computers (cost RM20,000) Coneral factory expenses General Lighting actory power Factory Administration salaries Sales Sales representative salaries Commission on sales Rent 30,000 11,500 12,000 4,200 13,400 2,300 4,800 5,900 Insurance General administration expenses Bank charges Discount allowed Carriage outwards Sales 1,000,000 64,000 Account receivable and accounts payable Bank Cash Drawings Capital as at 1 Jan 2020 142,300 16,800 1,500 60,000 357,800 1,421,800 1,421,800 ТОTAL Prepared by: Puan Siti Nor Junita Mohd Radzi…
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