ACC 201 Accounting Week 2 Assignment 2

ACC 201 Accounting Week 2 Assignment 2


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Asked by 2 years ago
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ACC 201 Accounting Week 2 Assignment 2


ACC201: Principles of Financial Accounting


Accounting 2

4-20 Effect of different inventory cost flow methods on financial statements

Cash 19,000

Beginning inventory 6,750 (75 Units@90)

Common Stock 7,500

Retained Earnings 18,250

5 transactions

  1. First cash purchase 100 units @ 92 9200

  2. Second cash purchase 175 units @ 100 17500

  3. Sales (all cash) 300 units @ 170 51000

  4. Paid 15,000 cash for operating expenses

  5. Paid cash for income taxes at the rate of 30% of income before taxes

Cost...

ACC 201
hemsworth

1 Answer

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Answered by 2 years ago
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ACC 201 Accounting Week 2 Assignment 2

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Asked: 2 years ago

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