Details of this Paper

Donna?s Entertainment is a merchandising business. Their account balances as of November 30, 2012 (unless otherwise

Description

solution


Question

Question;At the end of last year, you answered a fairly in-depth Accounting Project question for someone. I was wondering if you still had the.xls file for that question. I've included the beginning part of the problem that was posted last year:oundations of Accounting IAccounting ProjectWritten by: Karen PitschDonna?s Entertainment is a merchandising business. Their account balances as of November 30, 2012 (unless otherwise indicated), are as follows:110 Cash $ 73,920112 Accounts Receivable 34,250113 Allowance for Doubtful Accounts 11,000115 Merchandise Inventory 123,900116 Prepaid Insurance 3,750117 Store Supplies 2,850123 Store Equipment 100,800124 Accumulated Depreciation-Store Equipment 20,160210 Accounts Payable 21,450211 Salaries Payable 0218 Interest Payable 0220 Note Payable (Due 2017) 15,000310 P. Williams, Capital (January 1, 2012) 73,260311 P. Williams, Drawing 50,000312 Income Summary 0410 Sales 853,445411 Sales Returns and Allowances 20,020412 Sales Discounts 13,200510 Cost of Merchandise Sold 414,575520 Sales Salaries Expense 74,400521 Advertising Expense 18,000522 Depreciation Expense 0523 Store Supplies Expense 0529 Miscellaneous Selling Expense 2,800530 Office Salaries Expense 40,500531 Rent Expense 18,600532 Insurance Expense 0533 Bad Debt Expense 0539 Miscellaneous Administrative Expense 1,650550 Interest Expense 1,100Donna?s Entertainment uses the perpetual inventory system and the First-in, Last-out costing method. Transportation-in and purchase discounts should be added to the Inventory Control Sheet, but since this will complicate the computation of the First-in, Last-out costing method, please ignore this step in the process. They also use the Allowance Method for bad debt.

 

Paper#44016 | Written in 18-Jul-2015

Price : $52
SiteLock