Complete the accounting entries based on the assumption listed below. a. Rocky Mountain Bikes has ordered 250
Question:
Complete the accounting entries based on the assumption listed below.
a. Rocky Mountain Bikes has ordered 250 road helmets (RHMT 1000) from GBI.
b. The San Diego plant has 50 road helmets valued at a moving average price of $25.13 each
c. The Miami plant has 400 road helmets valued at a moving average price of $25.25.
d. GBI has decided to move 100 road helmets from Miami to San Diego and to purchase 300 helmets from Spy Gear at $25.54 each.
e. GBI sells road helmets for $50 each.
Label each entry with the appropriate process step number:
1. Goods receipt for PO
2. GI - production order
3. Vendor invoice
4. Vendor payment
5. GI for delivery
6. Customer invoice
7. Customer payment
The entries for step 1 have already been completed for you in the green cells.
GENERAL LEDGER | ||||||||||||||
Account: | Inventory - TG | Account: | GR/IR | Account: | ||||||||||
1 | $ 7,662.00 | $ 7,662.00 | 1 | |||||||||||
Account: | Account: | Account: | ||||||||||||
Account: | Account: | Account: | ||||||||||||
SUBLEDGERS | ||||||||||||||
Account: | Account: | Account: | ||||||||||||
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds