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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

Date Activities Units Acquired at Cost Units Sold at Retail
Mar. 1 Beginning inventory 120 units @ $51.40 per unit
Mar. 5 Purchase 235 units @ $56.40 per unit
Mar. 9 Sales 280 units @ $86.40 per unit
Mar. 18 Purchase 95 units @ $61.40 per unit
Mar. 25 Purchase 170 units @ $63.40 per unit
Mar. 29 Sales 150 units @ $96.40 per unit
Totals 620 units 430 units

4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 75 units from beginning inventory and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.)

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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

Date Activities Units Acquired at Cost Units Sold at Retail
Mar. 1 Beginning inventory 160 units @ $52.20 per unit
Mar. 5 Purchase 255 units @ $57.20 per unit
Mar. 9 Sales 320 units @ $87.20 per unit
Mar. 18 Purchase 115 units @ $62.20 per unit
Mar. 25 Purchase 210 units @ $64.20 per unit
Mar. 29 Sales 190 units @ $97.20 per unit
Totals 740 units 510 units

4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 95 units from beginning inventory and 225 units from the March 5 purchase; the March 29 sale consisted of 75 units from the March 18 purchase and 115 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.)

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Required information [The following information applies to the questions displayed below.]    Warnerwoods Company uses a...

Required information

[The following information applies to the questions displayed below.]
  

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
  

Date Activities Units Acquired at Cost Units Sold at Retail
Mar. 1 Beginning inventory 100 units @ $50.00 per unit
Mar. 5 Purchase 400 units @ $55.00 per unit
Mar. 9 Sales 420 units @ $85.00 per unit
Mar. 18 Purchase 120 units @ $60.00 per unit
Mar. 25 Purchase 200 units @ $62.00 per unit
Mar. 29 Sales 160 units @ $95.00 per unit
Totals 820 units 580 units

4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. (Round weighted average cost per unit to two decimals.)
  

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Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March.

Date Activities Units Acquired at Cost Units Sold at Retail
Mar. 1 Beginning inventory 130 units @ $65 per unit
Mar. 5 Purchase 430 units @ $70 per unit
Mar. 9 Sales 450 units @ $100 per unit
Mar. 18 Purchase 180 units @ $75 per unit
Mar. 25 Purchase 260 units @ $77 per unit
Mar. 29 Sales 220 units @ $110 per unit
Totals 1,000 units 670 units

For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 380 units from the March 5 purchase; the March 29 sale consisted of 70 units from the March 18 purchase and 150 units from the March 25 purchase.

4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar.)

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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

Date Activities Units Acquired at Cost Units Sold at Retail
Mar. 1 Beginning inventory 240 units @ $53.80 per unit
Mar. 5 Purchase 295 units @ $58.80 per unit
Mar. 9 Sales 400 units @ $88.80 per unit
Mar. 18 Purchase 155 units @ $63.80 per unit
Mar. 25 Purchase 290 units @ $65.80 per unit
Mar. 29 Sales 270 units @ $98.80 per unit
Totals 980 units 670 units

4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 135 units from beginning inventory and 265 units from the March 5 purchase; the March 29 sale consisted of 115 units from the March 18 purchase and 155 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.)

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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

Date Activities Units Acquired at Cost Units Sold at Retail
Mar. 1 Beginning inventory 200 units @ $53.00 per unit
Mar. 5 Purchase 275 units @ $58.00 per unit
Mar. 9 Sales 360 units @ $88.00 per unit
Mar. 18 Purchase 135 units @ $63.00 per unit
Mar. 25 Purchase 250 units @ $65.00 per unit
Mar. 29 Sales 230 units @ $98.00 per unit
Totals 860 units 590 units

4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 115 units from beginning inventory and 245 units from the March 5 purchase; the March 29 sale consisted of 95 units from the March 18 purchase and 135 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.)

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Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...


Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March.  

Date Activities Units Acquired at Cost Units Sold at Retail
Mar. 1 Beginning inventory 195 units @ $85 per unit
Mar. 5 Purchase 495 units @ $90 per unit
Mar. 9 Sales 515 units @ $120 per unit
Mar. 18 Purchase 310 units @ $95 per unit
Mar. 25 Purchase 390 units @ $97 per unit
Mar. 29 Sales 350 units @ $130 per unit
Totals 1,390 units 865 units

For specific identification, the March 9 sale consisted of 60 units from beginning inventory and 455 units from the March 5 purchase; the March 29 sale consisted of 135 units from the March 18 purchase and 215 units from the March 25 purchase.

4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar.)

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An Enterprises has the following business transaction estimates relating to the final quarter of 2020.     ...

An Enterprises has the following business transaction estimates relating to the final quarter of 2020.

     $                   $                    $

                                                            October           November          December

  

Credit Sales                                                    105600                112000                138000                  

        

Cash Sales                                                         21200                  26420               31200                   

                 

Notes

1. Actual Receipts from Accounts Receivable are 70% of the previous months

Credit Sales and the balance of 30% owing is received in the following month.

Credit Sales for September 2020 were $80,000 as they were in August 2020.

Cash Sales were $16,500 in August 2020 and $18,000 in September of 2020.

2. Payment of Accounts Payable is paid 60% of purchases in the month of

Purchase and the remaining 40% in the month following. Purchases in

September 2020 were $36,000.

3. The cash balance at 1 October 2020 was $52,890

Required:

Prepare a cash budget month by month for the quarter ending 31 December 2020.

Note that marks will be deducted for each incorrect posting to the cash budget.        

                              

Credit Sales                                                    105600                112000                138000                  

        

Cash Sales                                                         21200                  26420               31200                   

            

Receipts from Accounts Receivable `1.    calculate             calculate             calculate         

Wages                                                                28200                 28200                   28200            

Office Furniture                                                  6000                   7800                           0

Prepayments                                                              0                          0                     5275

Administrative Expense                                  10000                 10000                   11900

Depreciation on Office Furniture                    2500                   2500                     2500

Receipt of Loan                                                         0              100000                          0

Credit Purchases                                              42000                 42000                   58000                 

Payments of Accounts Payable 2.             calculate           calculate               calculate

Accrued Expenses                                                      0                          0                     6700           

can you do ASAP THANKS

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The following are the trial balance and the other information related to Bruce Sheffield, who operates...

The following are the trial balance and the other information related to Bruce Sheffield, who operates a construction hauling business.

SHEFFIELD
TRIAL BALANCE
DECEMBER 31, 2020

Debit

Credit

Cash $35,500
Accounts Receivable 50,800
Allowance for Doubtful Accounts $2,650
Supplies 3,080
Prepaid Insurance 1,400
Equipment 34,500
Accumulated Depreciation—Equipment 4,500
Notes Payable 8,400
Owner’s Capital 45,700
Service Revenue 103,610
Rent Expense 6,500
Salaries and Wages Expense 30,900
Utilities Expenses 1,320
Office Expense 860

$164,860

$164,860

1. Fees received in advance from clients $4,400.
2. Services performed for clients that were not recorded by December 31, $4,300.
3. Equipment is being depreciated at 8% per year.
4. Bad debt expense for the year is $1,490.
5. Insurance expired during the year $500.
6. Sheffield gave the bank a 90-day, 5% note for $8,400 on December 1, 2020.
7. Rent of the building is $500 per month. The rent for 2020 has been paid, as has that for January 2021.
8. Office salaries and wages earned but unpaid December 31, 2020, $1,440.


Sheffield withdrew $14,000 cash for personal use during the year.

1-From the trial balance and other information given, prepare annual adjusting entries as of December 31, 2020.

2-Prepare an income statement for 2020.

3-Prepare a statement of owner’s equity for 2020.

4-Prepare a classified balance sheet for 2020.

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Presented below is the comparative balance sheet for Grouper Company. PLEASE SHOW WORK Grouper Company Comparative...

Presented below is the comparative balance sheet for Grouper Company. PLEASE SHOW WORK

Grouper Company
Comparative Balance Sheet
As of December 31, 2021 and 2020

December 31

2021

2022

Assets

Cash

$181,000 $272,500

Accounts receivable (net)

218,100 155,200

Short-term investments

271,100 149,100

Inventories

1,066,900 978,500

Prepaid expenses

24,800 24,800

Plant & equipment

2,604,700 1,948,400

Accumulated depreciation

(1,003,600) (743,000)
$3,363,000 $2,785,500
Liabilities and Stockholders’ Equity

Accounts payable

$49,800 $74,700

Accrued expenses

168,900 200,700

Bonds payable

452,100 189,100

Capital stock

2,108,600 1,782,200

Retained earnings

583,600 538,800
$3,363,000 $2,785,500

Prepare a comparative balance sheet of Grouper Company showing the dollar change and the percent change for each item. (If there is a decrease from 2020 to 2021, then enter the amounts and percentages with either a negative sign, i.e. -92,000, -25.25 or parenthesis, i.e. (92,000), (25.25).)

GROUPER COMPANY
Comparative Balance Sheet
December 31, 2021 and 2020

December 31

Increase or (Decrease)

Assets

2021

2020

$ Change

% Change

Cash

$181,000 $272,500

$enter a dollar amount

enter percentages

%

Accounts receivable (net)

218,100 155,200

enter a dollar amount

enter percentages

%

Investments

271,100 149,100

enter a dollar amount

enter percentages

%

Inventories

1,066,900 978,500

enter a dollar amount

enter percentages

%

Prepaid expenses

24,800 24,800

enter a dollar amount

enter percentages

%

Plant and equipment

2,604,700 1,948,400

enter a dollar amount

enter percentages

%

Accumulated depreciation

(1,003,600 ) (743,000 )

enter a dollar amount

enter percentages %

     Total

$3,363,000 $2,785,500

$enter a dollar amount

enter percentages %

Liabilities and Stockholders’ Equity

Accounts payable

$49,800 $74,700

$enter a dollar amount

enter percentages

%

Accrued expenses

168,900 200,700

enter a dollar amount

enter percentages

%

Bonds payable

452,100 189,100

enter a dollar amount

enter percentages

%

Capital stock

2,108,600 1,782,200

enter a dollar amount

enter percentages

%

Retained earnings

583,600 538,800

enter a dollar amount

enter percentages %

     Total

$3,363,000 $2,785,500

$enter a dollar amount

enter percentages %

In: Accounting