Prepare a cost of goods sold section for the year ending

Assignment Help Accounting Basics

Reference no: EM132732202

Question - The trial balance of Blue Spruce Corp. at the end of its fiscal year, August 31, 2022, includes these accounts: Inventory $17,700, Purchases $154,000, Sales Revenue $192,000, Freight-In $7,700, Sales Returns and Allowances $2,900, Freight-Out $1,000, and Purchase Returns and Allowances $4,700. The ending inventory is $20,000. Prepare a cost of goods sold section for the year ending August 31, 2022 (periodic inventory).

Reference no: EM132732202

Questions Cloud

Compute for the initial carrying amount of the bonds : The effective interest rate is 9%. The entity incurs transactions cost of P81,645. Compute for the initial carrying amount of the bonds

Multi hospital system that is growing at rapid pace : You are the president of a multi hospital system that is growing at a rapid pace.

Prepare the journal entries to summarize the history : Prepare the journal entries to summarize the history of the building as it would be reported in the city's government-wide statements

Process of analyzing health policy involves explaining : The process of analyzing health policy involves explaining the primary relationship between different institutions, interest areas and concepts

Prepare a cost of goods sold section for the year ending : The ending inventory is $20,000. Prepare a cost of goods sold section for the year ending August 31, 2022 (periodic inventory)

Biotechnology and genetic engineering for medical : Discuss the use of biotechnology and genetic engineering for medical, environmental, legal, and pharmaceutical uses.

What amount should Bramble report as its December inventory : Both the Timmons purchase and the Myers sale were in transit at year end. What amount should Bramble report as its December 31 inventory

Second language acquisition : Do a research on a second language acquisition. State all the difficulties and obstacles that alearner of a second/foreign language may encounter.

Prepare production contribution margin income statement : Prepare Green Production's contribution margin income statement for 175 shows performed in 2016. Report only two categories of costs: variable and fixed

User Account

All Pages