the dadds lamp company dlc owned by josie dadds. is a wholesale company that purchases lamps from the manufacturer and resells them to retailsyores.

1 More Info The company has three inventory items: desk lamps, table lamps, and floor lamps. DLC uses a perpetual inventory system, FIFO method. DLC owns land with a building, which is separated into two parts: office space and warehouse space. All expenses associated with the office are categorized as Administrative Expenses. All expenses associated with the warehouse, which is used for the shipping and receiving functions of the company, are categorized as Selling Expenses. In addition to the land and building, DLC also owns office furniture and equipment and warehouse fixtures. The company uses one accumulated depreciation account for all the depreciable assets. Data Table Dadds Lamp Company Trial Balance September 30, 2024 Balance Account Debit Credit Cash $ 442,000 0 Accounts Receivable 160,000 Merchandise Inventory Office Supplies Warehouse Supplies 120 450 Land 12,000 740,000 128,000 Building Office Furniture and Equipment Warehouse Fixtures Accumulated Depreciation 280.000 $ 229,600 Print Done Data Table Accumulated Depreciation ZZY,OUU Accounts Payable 0 395,100 Dadds, Capital Dadds, Withdrawals Sales Revenue 2,604,070 Cost of Goods Sold 1,084,200 236,000 31,000 0 0 Salaries Expense-Selling Utilities Expense--Selling Supplies Expense-Selling Depreciation Expense-Selling Salaries Expense-Administrative Utilities Expense-Administrative Supplies Expense-Administrative Depreciation Expense-Administrative 88,000 27,000 0 $ Total 3,228,770 $ 3,228,770 Print Done * 6 - Comprehensive Pr... Question 1 CompF6-1 (s... Part 1058 HW Score: 0%, 0 of 100 points Points: 0 of 100 owned by Josi Dadds is a wholesale company that purchases esells them to retail stores tional information) ptember 30, 2024 foliows balance Merchandise Inventory as of September 30 consists of the follow Click the icon to view the Merchandise inventory During the fourth quarter of 2024, DLC completed the following tra Click the icon to view the transactions Read the requirements - X Data Table Item Desk Lamp Table Lamp Quantity Unit Cost Total Cost 2.000 $ 10 $ 20.000 4,000 S 20 80,000 2.500 5 60,000 S 160.000 Floor Lamp Total Print Done culator Get More Help Clear All 5 6 8 E R. P Y U T 0 DF G HJK More Info Oct. 1 Oct. 12 Oct. 15 Purchased lamps on account from Cascade Lights, terms n/30, FOB destination: 4,000 desk lamps at $7 each 6,000 table lamps at $21 each 2,000 floor lamps at $28 each Sold lamps on account to Celestial Home Furnishings, terms 1/10, 1/30 4,200 table lamps at $42 each Sold lamps on account to Valdosta Office Supply, terms 3/10, 0/30: 800 desk lamps at $21 each Received a check from Celestial Home Furnishings for full amount owed on Oct 12 sale: Received a check from Valdosta Office Supply for full amount owed on Oct. 15 sale. Sold lamps on account to Canal Home Stores, terms 1/10, 1/30 1.800 table lamps at S42 each 1,000 floor lamps at $67 each Paid amount due to Cascade Lights from Oct. 1 purchase Paid salaries, $39,000 (60% seling, 40% administrative) Oct. 20 Oct 23 Oct 28 Oct 30 Oct 31 Dais ... Print Done 3 & 7 4 5 C 9 0) 00 E R T Y More Info Oct 31 Nov. 1 Nov 5 Nov. 5 Paid utilities, $2,000 (75% seling, 25% administrative) Sold lamps on account to Valdosta Office Supply, terms 1/10, 1/30: 2.400 desk lamps at $21 each Purchased lamps on account from Cascade Lights, ferms /30. FOB destination 4,000 desk lamps at $8 each 8.500 table lamps at $22 each 4,000 floor lamps at $31 each Received a check from Canal Home Stores for full amount owed on Oct 28 sale. Received a check from Valdosta Office Supply for full amount owed on Nov. 1 sale Purchased and paid for supplies $520 for the office: $475 for the warehouse. Sold lamps on account to Johnson Office Supply, n/30 1,500 desk lamps at $21 each Sold lamps on account to Emporium Discount Stores, terms 2010. n/30: 2,300 table lamps at 542 each 1,800 floor lamps at $67 each Received a check from Emporium Discount Stores for full amount and on Nov. 18 sain Nov. 8 Nov. 10 Nov. 15 Nov. 18 Now 28 Print Done 3 8 7 4 5 6 B. 9 E R T U e.) Read the requirements More Info Nov. 18 Nov. 28 Nov. 30 Nov 30 Dec. 5 1,500 desk lamps at 521 each Sold lamps on account to Emporium Discount Stores, terms 2/10, 1/30 2,300 table lamps at $42 each 1,800 floor lamps at $67 each Received a check from Emporium Discount Stores for full amount owed on Nov. 18 sale, Paid salaries, $39.000 (60% seling, 40% administrative) Paid utilities. $2,140 (75% selling, 25% administrative) Paid amount due to Cascade Lights from Nov. 5 purchase. Received a check from Johnson Office Supply for full amount owed on Nov. 15 sale. Dadds withdrew $30,000 from the business Sold lamps on account to Celestial Home Furnishings, terms 1/10, 1/30 4.300 desk lamps at $21 each 3,700 table lamps at $42 each Paid salaries, $39,000 (60% selling, 40% administrative) Paid utilities $3,000 (75% selling 25% administrative). Dec. 15 Dec. 15 Dec. 27 Dec. 31 Dec. 31 Print Done $ % 5 & 7 3 4 8 9 i (Click the icon to view the additional information.) The trial balance for DLC as of September 30, 2024 follows: Click the icon to view the trial balance.) During the fourth quarter of 2024. Click the icon to view the tran Read the requirements. Requirement 1. Open general ledger T-accounts and enter opening balances as of September 30, 2024. (Enter a "0" on the normal side of September 30, 2024. Abbreviation used: Depr. = depreciation) Cash Accounts Payable Sales Revenue Accounts Receivable Dadds, Capital Cost of Goods Sold Merchandise Inventory Dadds, Withdrawals Salaries Expense--Selling e Text Pages Calculator Get More Help BERE Office Supplies Utilities Expense-Selling Warehouse Supplies Supplies Expense-Selling Land Depreciation Expense-Selling e Text Pages Calculator Get More Help Building Salaries Expense-Administrative Office Furniture and Equipment Utilities Expense-Administrative Warehouse Fixtures Supplies Expense-Administrative ick the icon to view the thar Dalance Read the requirements * Office Furniture and Equipment Utilities Expense-Administrative Warehouse Fixtures Supplies Expense-Administrative Accumulated Depreciation Depr. Expenso-Administrative