Solution-Determining net purchases from the accounting

Determining net purchases from the accounting records

Reference no: EM131756077

Question: Determining Net Purchases

The following amounts were obtained from the accounting records of Newton Company, Washington Inc., and Adams Company:

	Newton	Washington	Adams
Purchases	$67,200	$102,000	(c)
Freight-in	2,300	(b)	3,475
Purchase Discounts	(4,110)	(9,700)	(5,000)
Purchase Returns and Allowances	(3,180)	(8,250)	(1,210)
Net Purchases	(a)	92,600	45,500

Required: Compute the missing amounts.

	Newton	Washington	Adams
Purchases	$67,200	$102,000	$
Freight-in	2,300		3,475
Purchase Discounts	(4,110)	(9,700)	(5,000)
Purchase Returns and Allowances	(3,180)	(8,250)	(1,210)
Net Purchases		92,600	45,500

Reference no: EM131756077

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Determining net purchases from the accounting records

Reference no: EM131756077

Reference no: EM131756077

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