70.2K

Verified Solution

Link Copied!

prepare journal entries and prepare costing chart using MWA method.

Deposit 5 Cheque 9 Cheque 10 Conway did a physical count of their inventory. They had 190 uniforms 01-May that they originally purchased for $19. No journal entry required. 03-May Lendrum paid their balance in full. 04-May Purchased 150 uniforms for $23 each to resell as inventory. 06-May Paid out mileage expense for 760km @ $0.65 per km 08-May Sold 130 uniforms to Lendrum for $40 a unit. 1/10,n30, FOB Shipping 11 May Purchased 90 uniforms for $24 each to resell as inventory. 13-May Sold 145 uniforms to Norton Electric for $40 a unit. Cash Deposit 6 15-May Paid D. Gee for 6 days work at $345 per day. 18-May Starburst pald a portion of their bill of $10,000 20-May Purchased Office Supplies for $420 22-May Purchased 150 uniforms for $18 each to resell as inventory. 25-May Sold 110 uniforms to Lendrum for $40 a unit. 1/10, 130, FOB Shipping 28 May Withdrew $300 cash. Dinwoody Entertainment put a deposit down for uniforms to be ordered 31. May next month of $1,400. Deposit 8 Cheque 11 Deposit 6 Cheque 12 Deposit Cheque 12 Cheque 14 Cheque 15 Deposit 8 MAY 2021 BANK STATEMENT Date Cheque/Deposit # Amount Balance 01-May Open 44,890 03-May NSF Cheque - Starbust -2,000 42,890 05-May Deposit 5 6,680 49,570 08-May Cheque 9 -1.820 47,7501 10-May Cheque 10 - 1.120 46,630 14-May Deposit 6 5,400 52,030 18-May Deposit 7 10,000 62,0301 21-May Cheque 13 -450 61,5801 31-May Interest Income 12 61,592 31-May Bank Charges -35 61,557

Answer & Explanation Solved by verified expert

See Answer