Professional Documents
Culture Documents
Feb-01
Feb-05
Feb-06
Feb-09
Feb-10
Feb-11
Feb-24
Mar-23
DR CR
Purchase 17100
Account payable 17100
to record purchase of merchandise inventory for trems
2/10,n /30
Purchase 8300
cash 8300
to record purchase of merchandise inventory for cash
purchase 22100
account payable 22100
to record purchase of office supplies for terms n/15
no entry required
Feb-02
Feb-03
Feb-04
Feb-11
Feb-23
Feb-28
DR CR
account receivable 2,100
sale 2,100
to record sales of merchandise with terms
2/10 , n/30 FOB destination
cash 1029
sales discount 21
account receivable 1050
to record collection of payments from Feb 1 sales
Cash 1200
Sales 1200
to record sales for merchandise cash
Cash 3800
account receivable 3800
to record collection of Feb 1 sale
beginning inventory
plus : purchase
goods available for sale
less : ending inventory
cogs : cost of goods sold
a
calculations of net sales
sales
less: sales return and allowance
net sales
b
merchandise inventory
purchase
less: purchase discount
less: purchase returns and v allowances
transportation in
goods available for sale
less: ending inventory
costs of goods sold
Sales
less sales return and allowance
Net sales
Costs of goods sold
merchandise inventory, March 31 ,2020
purchase
less : purchase discount
purchase discount allowance
net purchase
add : transportation in
Cost of goods purchased
Goods available for sale
less : merchandise inventory April 30,2020
costs of goods sold
Gross profit from sales
operating expense :
wages expenses, selling
depreciation expense, delivery trucks
telephone expense ,store
total selling expense
General administrative expenses :
wages expenses, office
telephone expenses , office
total general administrative expenses
Total operating expense
operating losses
Other revenues and expenses
loss
calculations of net sales
38,200
return and allowance 1,830
36370
John's electronics
Income statement
for month ended 2020
38200
return and allowance 1830
36370
b.
yoga pants
selling price 70
0.75