Business - Marketing ACC120 Study Guide - Midterm Guide: Inventory Turnover, Cash Flow, Perpetual Inventory
2 Apr 2015
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Acc120 term test 2 vb solutions. On september 1, land over car dealership had an inventory of 35 cars at a cost of ,000 each. During september, the following transactions and events occurred: Sept. 3 purchased 25 cars at ,000 each from manitoba gm. The cars were shipped fob destination terms n/30. 6 received credit of ,000 for the return of 4 cars purchased on sept. 3 that were damaged. 9 sold 20 cars for ,000 each to oakville ltd. on credit, terms 2/10, n30. 13 cash sale of 15 cars for ,000 each to abc ltd 19 received full payment from oakville ltd. for cars purchased sep. 9. 21 purchased 25 cars at ,000 each from manitoba gm. The adjusted trial balance of it computer company appears below. Prepare the end of the year closing journal entries. Use the journal paper provided on the following page. The adjusted trial balance of singh company includes the following accounts:
