AutoSave O OFF A A ) . G G ... ghizlane henoud final exam - Compatibility Mode Home Insert Draw Design Layout References Mailings Review View Table Design Layout ? Tell me Share Editing Comments Times New... ~ 10.5 ~ A" A Aav A b A A AaBbCcDdEe AABBC AaBbCc Paste BIUab X x|ALAA Emphasis Heading 1 Heading 2 Styles Dictate Sensitivity Editor Pane I , Prepare a Schedule of Cost of Goods Sold (5') The following selected events occurred at Tianshu Co. during the first half of the year. Date Event Amount Jan. Beginning inventory $20,000 Jan. 25 Purchased goods, FOB destination 30,000 Feb. 10 Returned goods to supplier 3,000 Mar. 20 Sold goods 19,000 Apr. 5 Purchased goods, FOB shipping point 35,000 Apr. 15 Paid freight on goods purchased 2,000 May Sold goods 14,000 June Sold goods 23,000 June 18 Customer returned goods to Tianshu 2,000 June 30 Physical count of ending inventory 24,000 Required: Prepare a Schedule of Cost of Goods Sold for Tianshu Co., for the six-months ended June 30, assuming the periodic inventory method is used. Use the form provided below. Beginning inventory Purchases Purchase returns Transportation-in Page 8 of 16 2757 words English (United States) Focus E + 180%AutoSave O OFF A A ) . G G ... ghizlane henoud final exam - Compatibility Mode Home Insert Draw Design Layout References Mailings Review View Table Design Layout ? Tell me Share Editing Comments Times New... ~ 10.5 ~ A" A Aav A ab A A AaBbCcDdEe AABBC AaBbCc Paste BIUvab X x ALAAE Emphasis Heading 1 Heading 2 Styles Dictate Sensitivity Editor Pane Purchase returns Transportation-in Cost of goods available for sale Ending inventory Cost of goods sold IV. Journalize for the following transactions: (1'x16=16' ) 1 . The owners of Pollak Co. began their business by investing $10,000 of cash. ILANGSU UNIVERSITY 8 WRITTING TEST PAPER Page 8 of 16 2757 words English (United States) Focus E + 180%AutoSave O OFF A A ) . G G ... ghizlane henoud final exam - Compatibility Mode Home Insert Draw Design Layout References Mailings Review View Table Design Layout ? Tell me Share Editing Comments Times New... ~ 10.5 ~ A" A Aa A b A A AaBbCcDdEe AABBC AaBbCc Paste BIUvab X x|ALAA Emphasis Heading 1 Heading 2 Styles Dictate Sensitivity Editor Pane 2. Lafayette Co. provided services to customers for $15,000 cash. 3. Lafayette Co. provided services to its customers for $20,000 on account. 4. Founders Co. collected $8,000 cash from customers for services that Founders agreed to perform in the future. 5. Lafayette Co. collected $13,000 cash from accounts receivable. 6. Founders Co. provided $4,000 worth of services to its customers who had previously given it cash (see transaction 4). Page 9 of 16 2757 words English (United States) Focus E + 180%AutoSave O OFF A A ) . G G ... ghizlane henoud final exam - Compatibility Mode Home Insert Draw Design Layout References Mailings Review View Table Design Layout ? Tell me Share Editing Comments Times New... ~ 10.5 " A" A Aav A b A A AaBbCcDdEe AABBC AaBbCc Paste BIUvabX x ALAA Emphasis Heading 1 Heading 2 Styles Dictate Sensitivity Editor Pane 7. Sanger Co. purchased equipment for $12,000 cash. The equipment has an expected life of five years and estimated salvage value of $2,000. 8. Nelson Co. made a $5,000 cash distribution to its owners. 9. Massey Co. purchased $20,000 of land using a note payable. ILANGSU UNIVERSITY 9 Page 9 of 16 2757 words English (United States) Focus + 180%AutoSave O OFF A A ) . G G ... ghizlane henoud final exam - Compatibility Mode Home Insert Draw Design Layout References Mailings Review View Table Design Layout ? Tell me Share Editing Comments Times New... ~ 10.5 ~ A" A Aa A b A A EVENA AaBbCcDdEe AABBC AaBbCc Paste BIUvab X x|ALAAE Emphasis Heading 1 Heading 2 Styles Dictate Sensitivity Editor Pane 10. Larrick Co. purchased $1,000 of office supplies for cash. 11. Massey Co. paid off the $20,000 note payable it had used to purchase land (see transaction 9). There was no interest on this note. 12. Siegel Co. paid cash in advance of $6,000 for a three-year lease of office space. 13. Massey Co. sold land for $8,000. The land had originally been purchased for $6,000. 14. Sanger Co. made a year-end adjustment to record depreciation on the equipment it purchased in transaction 7. Page 10 of 16 2757 words Ox English (United States Focus E + 180%AutoSave O OFF A A ) . G G ... ghizlane henoud final exam - Compatibility Mode Home Insert Draw Design Layout References Mailings Review View Table Design Layout ? Tell me Share Editing Comments Times New... ~ 10.5 " A" A Aav A ab A A AaBb CcDdEe AABBC AaBbCc Paste BIUab X x|ALAA Emphasis Heading 1 Heading 2 Styles Dictate Sensitivity Editor Pane 15. Siegel Co. made a year-end adjustment related to the prepaid lease of office space that occurred in transaction 12. Siegel has used the office space for six months by year-end. 16.Larrick Co. made a year-end adjustment after it determined that only $300 of the office supplies purchased in transaction 10 were still on hand. HANGSU UNIVERSITY 10 Page 10 of 16 2757 words x English (United States) Focus E + 180%