Write the answers to the following questions in the space provided. Note: all the following questions relate to March 8€“14.
Register Reports
1. What is the total amount of purchase orders for the period?
2. What is the total amount of purchase invoices for the period?
Inventory List Report
3. What is the last cost for the RKC Electric Range?
4. What is the reorder point for the ICY 20 CF. Freezer?
5. How many Trash Compactors are on hand?
Journal and Ledger Reports
6. What are the total debits and credits shown on the purchases journal?
7. What are the total debits and credits shown on the cash payments journal?
8. From the General Ledger report, what was the Merchandise Inventory account balance on March 14?
9. From the General Ledger report, what was the Accounts Payable account balance on March 13?
10. From the schedule of accounts payable, what is the total amount owed?
Inventory Reports and Graph
11. How many items were ordered during the period?

12. How many items were received during the period?
13. List the item(s) that are out of stock for which no items are currently on order.
14. From the graph, what is the most profitable inventory item?

Data From Problem 

Mar 08         

Ordered the following merchandise from ICY Refrigeration Co., terms 2/0, n/30. Purchase Order No. 505.

08 

Received the following merchandise for Purchase Order No. 501 from SPOTLESS Mfg., Inc., terms 2/10, n/30. Purchase Invoice No. 921.

08 

Ordered the following merchandise from IDEAL Appliance Mfg., terms 2/10, n/30. Purchase Order No. 506.

09 

Received the following merchandise for Purchase Order No. 503 from MNT Refrigerators, Inc., terms 2/10, n/30. Purchase Invoice No. 922.

10 

Ordered the following merchandise from RKC Production, Inc., terms 2/10, n/30. Purchase Order no. 507.

11 

Returned the following merchandise to ICY Refrigeration, Co. Purchase Invoice No. R919.

12 

Received the following merchandise from Purchase Order No. 502 from RKC Production, Inc., terms 2/10, n/30. Purchase Invoice No. 923.

13 

Ordered the following merchandise from ICY Refrigeration, Co., terms 2/10, n/30. Purchase Order No. 508.

14 

Received the following merchandise for Purchase Order No. 504 from MNT Refrigerators, Inc., terms 2/10, n/30. Purchase Invoice No. 924.

Transcribed Image Text:

Unit Cost Quantity Description Micro Refrig. 15 225.00 Description SPOTLESS Washer Quantity Unit Cost 319.00