PROBLEM 10: The purchases joumal of YYY Enterprises shows the following invoices:InvoiceInvoiceDateNumberFOB TermAmountDECEMBER 2021251DateReceivedDestinationDestinationShipping pointShipping pointDestinationP20,00023-Dec24-Dec25224,00016,00018,00027,00021,0002,00050,00012,00022,00023-Dec29-Dec25325425526-Dec30-Dec26-Dec2-Jan31-Dec5-Jan31-Dec256Destination4-Jan25727-DecShipping pointShipping pointDestination21-Dec2588-Jan2-Jan25922-Dec28-Dec28-Dec27-Dec260DestinationJANUARY 2022261P30,00028-DecDestination4-Jan26224,00015,0006,5008,50019,00029-DecDestination28-Dec26330-DecShipping pointShipping pointShipping pointDestination31-Dec2642652662-Jan5-Jan28-Dec30-Dec4-Jan6-Jan11. How much of these invoices must be reported as part of inventory?

The purchase journal is defined as the main entry book in which credit purchases of inventory are…

PROBLEM 10: The purchases joumal of YYY Enterprises shows the following invoices: Invoice Invoice Date Number FOB Term Amount DECEMBER 2021 251 Date Received 23-Dec Des tination Destination Shipping point Shipping point Destination Destination Shipping point Shipping point Destination Destination P20,000 24-Dec 252 253 254 255 256 257 258 259 260 24,000 16,000 18,000 27,000 21,000 2,000 50,000 12,000 22,000 23-Dec 26-Dec 26-Dec 2-Jan 31-Dec 27-Dec 29-Dec 30-Dec 5-Jan 31-Dec 4-Jan 21-Dec 2-Jan 28-Dec 27-Dec 8-Jan 22-Dec 28-Dec JANUARY 2022 261 262 P30,000 Destination Destination Shipping point Shipping point Shipping point Destination 4-Jan 24,000 15,000 6,500 8,500 19,000 28-Dec 29-Dec 30-Dec 2-Jan 28-Dec 30-Dec 28-Dec 31-Dec 5-Jan 4-Jan 6-Jan 263 264 265 266 11. How much of these invoices must be reported as part of inventory?

PROBLEM 10: The purchases joumal of YYY Enterprises shows the following invoices: Invoice Invoice Date Number FOB Term Amount DECEMBER 2021 251 Date Received 23-Dec Des tination Destination Shipping point Shipping point Destination Destination Shipping point Shipping point Destination Destination P20,000 24-Dec 252 253 254 255 256 257 258 259 260 24,000 16,000 18,000 27,000 21,000 2,000 50,000 12,000 22,000 23-Dec 26-Dec 26-Dec 2-Jan 31-Dec 27-Dec 29-Dec 30-Dec 5-Jan 31-Dec 4-Jan 21-Dec 2-Jan 28-Dec 27-Dec 8-Jan 22-Dec 28-Dec JANUARY 2022 261 262 P30,000 Destination Destination Shipping point Shipping point Shipping point Destination 4-Jan 24,000 15,000 6,500 8,500 19,000 28-Dec 29-Dec 30-Dec 2-Jan 28-Dec 30-Dec 28-Dec 31-Dec 5-Jan 4-Jan 6-Jan 263 264 265 266 11. How much of these invoices must be reported as part of inventory?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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