Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on december 1, 2025, carla vista company had the a

On December 1, 2025, Carla Vista Company had the account balances shown below. Inventory =(3,200$0.60)...

90.2K

Verified Solution

Question

Accounting

imageimageimageimageimageimage

On December 1, 2025, Carla Vista Company had the account balances shown below. Inventory =(3,200$0.60) The following transactions occurred during December. Dec. 3 Purchased 4,200 units of inventory on account at a cost of $0.76 per unit. 5 Sold 4,600 units of inventory on account for $0.90 per unit. (Carla Vista sold 3,200 of the $0.60 units and 1,400 of the $0.76 units.) 7 Granted the December 5 customer $180 credit for 200 units of inventory returned costing $152. These units were returned to inventory. 17 Purchased 2,200 units of inventory for cash at $0.80 each. 22 Sold 2,000 units of inventory on account for $0.99 per unit. (Carla Vista sold 2,000 of the $0.76 units.) Adjustment data: 1. Accrued salaries and wages payable $330. 2. Depreciation on equipment $190 per month. 3. Income tax expense was $230, to be paid next year. Enter the December 1 balances in the ledger T-accounts and post the December transactions. (Post entries in the order of journal entries presented above.) Income Taxes Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold (c)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

Consider the following function. (If an answer does not exist, enter DNE.) f(x) = 1 + (5/...

Chemistry
1.2K views

usign the literature value of the acetic acid aand answer the following questions pKa for acetic acid=4.74...

Biology
1.2K views

Applying your knowledge of metabolism, glycolysis starts with one molecule of glucose (6C) and produces a...

Physics
1.2K views

Suppose a 10 kg ball makes a one dimensional collision with a 5 kg ball. Think...

Geometry
1.2K views

You flip a coin What is P not heads Simplify your answer and write it...

Basic Math
1.2K views

Choose all correct formulas to calculate r permutations and r combinations of n elements C...

Basic Math
1.2K views

Area of a Circle in terms of pi Apr 17 9 39 09 AM Watch...

Calculus
1.2K views

Rylan enjoys adding her own toppings to a frozen pizza She bakes her frozen pizza...

Accounting
1.2K views

list &explain any 4 assumption of linear programming

Accounting
1.2K views

Face value: 10,000 Coupon rate: 5% Market rate 10% Maturity: 5 years A. Find the...

Accounting
1.2K views

Which of the following is an example of an activity cost driver? Deciding how...

Finance
1.2K views

What if the ER/D (Excess Reserves/Deposits ratio) is counter-cyclical, meaning that it goes down when...