write my assignment 31438

Comprehensive Accounting Cycle Review 6

On December 1, 2017, Carla Vista Co. had the account balances shown below.

Debits

Credits

Cash$4,640Accumulated Depreciation—Equipment$1,380Accounts Receivable3,760Accounts Payable2,900Inventory (2,700 x $0.50)1,350Common Stock10,800Equipment19,400Retained Earnings14,070$29,150$29,150

The following transactions occurred during December.

Dec. 3Purchased 3,700 units of inventory on account at a cost of $0.78 per unit.5Sold 4,100 units of inventory on account for $0.90 per unit. (It sold 2,700 of the $0.50 units and 1,400 of the $0.78.)7Granted the December 5 customer $270 credit for 300 units of inventory returned costing $240. These units were returned to inventory.17Purchased 2,200 units of inventory for cash at $0.80 each.22Sold 2,100 units of inventory on account for $0.88 per unit. (It sold 2,100 of the $0.78 units.)

Adjustment data:

1.Accrued salaries and wages payable $400.2.Depreciation on equipment $200 per month.3.Income tax expense was $200, to be paid next year.

Journalize the December transactions and adjusting entries, assuming Carla Vista Co. uses the perpetual inventory method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Date

Account Titles and Explanation

Debit

Credit

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

(To record sales revenue.)

(To record cost of goods sold.) 

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

(To record sales return.)

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

(To record sales revenue.)

(To record cost of goods sold.) 

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

(1)

(To record accrued expense.)(2)

(To record depreciation expense.)(3)

(To record income tax expense.)

SHOW LIST OF ACCOUNTS

LINK TO TEXT

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.)

Cash

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Accounts Receivable

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Inventory

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 1 Bal.

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Equipment

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Accounts Payable

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Accumulated Depreciation—Equipment

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Salaries and Wages Payable

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Common Stock

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Income Taxes Payable

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Retained Earnings

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Sales Revenue

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Salaries and Wages Expense

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Cost of Goods Sold

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Sales Returns & Allowances

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Depreciation Expense

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Income Tax Expense

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

Dec. 1 Bal.

Dec. 3

Dec. 5

Dec. 7

Dec. 17

Dec. 22

Dec. 31

Dec. 31 Bal.

SHOW LIST OF ACCOUNTS

LINK TO TEXT

Prepare an adjusted trial balance as of December 31, 2017.

Carla Vista Co.

Adjusted Trial Balance

December 31, 2017

For the Month Ended December 31, 2017

For the Year Ended December 31, 2017

Debit

Credit

$

$

$

$

SHOW LIST OF ACCOUNTS

LINK TO TEXT

Prepare an income statement for December 2017.

Carla Vista Co.

Income Statement

December 31, 2017

For the Month Ended December 31, 2017

For the Year Ended December 31, 2017

Dividends

Gross Profit

Income Before Income Taxes

Income From Operations

Net Income / (Loss)

Net Sales

Operating Expenses

Other Expenses and Losses

Other Revenues and Gains

Retained Earnings, December 1, 2012

Retained Earnings, December 31, 2012

Sales Revenues

Total Operating Expenses

Total Revenues

$

Add

Less

Dividends

Gross Profit

Income Before Income Taxes

Income From Operations

Net Income / (Loss)

Net Sales

Operating Expenses

Other Expenses and Losses

Other Revenues and Gains

Retained Earnings, December 1, 2012

Retained Earnings, December 31, 2012

Sales Revenues

Total Operating Expenses

Total Revenues

Dividends

Gross Profit

Income Before Income Taxes

Income From Operations

Net Income / (Loss)

Net Sales

Operating Expenses

Other Expenses and Losses

Other Revenues and Gains

Retained Earnings, December 1, 2012

Retained Earnings, December 31, 2012

Sales Revenues

Total Operating Expenses

Total Revenues

Dividends

Gross Profit

Income Before Income Taxes

Income From Operations

Net Income / (Loss)

Net Sales

Operating Expenses

Other Expenses and Losses

Other Revenues and Gains

Retained Earnings, December 1, 2012

Retained Earnings, December 31, 2012

Sales Revenues

Total Operating Expenses

Total Revenues

$

Dividends

Gross Profit

Income Before Income Taxes

Income From Operations

Net Income / (Loss)

Net Sales

Operating Expenses

Other Expenses and Losses

Other Revenues and Gains

Retained Earnings, December 1, 2012

Retained Earnings, December 31, 2012

Sales Revenues

Total Operating Expenses

Total Revenues

Dividends

Gross Profit

Income Before Income Taxes

Income From Operations

Net Income / (Loss)

Net Sales

Operating Expenses

Other Expenses and Losses

Other Revenues and Gains

Retained Earnings, December 1, 2012

Retained Earnings, December 31, 2012

Sales Revenues

Total Operating Expenses

Total Revenues

$

SHOW LIST OF ACCOUNTS

LINK TO TEXT

Prepare a classified balance sheet at December 31, 2017. (List current assets in order of liquidity.)

Carla Vista Co.

Balance Sheet

December 31, 2017

For the Month Ended December 31, 2017

For the Year Ended December 31, 2017

Assets

Current Assets

Current Liabilities

Expenses

Intangible Assets

Long-term Investments

Long-term Liabilities

Net Income / (Loss)

Property, Plant and Equipment

Revenues

Stockholders’ Equity

Total Assets

Total Current Assets

Total Current Liabilities

Total Expenses

Total Intangible Assets

Total Liabilities

Total Liabilities and Stockholders’ Equity

Total Long-term Investments

Total Long-term Liabilities

Total Property, Plant and Equipment

Total Revenues

Total Stockholders’ Equity

$

Current Assets    

Current Liabilities    

Expenses    

Intangible Assets    

Long-term Investments    

Long-term Liabilities    

Net Income / (Loss)    

Property, Plant and Equipment    

Revenues    

Stockholders’ Equity    

Total Assets    

Total Current Assets    

Total Current Liabilities    

Total Expenses    

Total Intangible Assets    

Total Liabilities    

Total Liabilities and Stockholders’ Equity    

Total Long-term Investments    

Total Long-term Liabilities    

Total Property, Plant and Equipment    

Total Revenues    

Total Stockholders’ Equity    

$

Current Assets

Current Liabilities

Expenses

Intangible Assets

Long-term Investments

Long-term Liabilities

Net Income / (Loss)

Property, Plant and Equipment

Revenues

Stockholders’ Equity

Total Assets

Total Current Assets

Total Current Liabilities

Total Expenses

Total Intangible Assets

Total Liabilities

Total Liabilities and Stockholders’ Equity

Total Long-term Investments

Total Long-term Liabilities

Total Property, Plant and Equipment

Total Revenues

Total Stockholders’ Equity

Add    

Less    

Current Assets

Current Liabilities

Expenses

Intangible Assets

Long-term Investments

Long-term Liabilities

Net Income / (Loss)

Property, Plant and Equipment

Revenues

Stockholders’ Equity

Total Assets

Total Current Assets

Total Current Liabilities

Total Expenses

Total Intangible Assets

Total Liabilities

Total Liabilities and Stockholders’ Equity

Total Long-term Investments

Total Long-term Liabilities

Total Property, Plant and Equipment

Total Revenues

Total Stockholders’ Equity

$

Liabilities and Stockholders’ Equity

Current Assets

Current Liabilities

Expenses

Intangible Assets

Long-term Investments

Long-term Liabilities

Net Income / (Loss)

Property, Plant and Equipment

Revenues

Stockholders’ Equity

Total Assets

Total Current Assets

Total Current Liabilities

Total Expenses

Total Intangible Assets

Total Liabilities

Total Liabilities and Stockholders’ Equity

Total Long-term Investments

Total Long-term Liabilities

Total Property, Plant and Equipment

Total Revenues

Total Stockholders’ Equity

$

Current Assets    

Current Liabilities    

Expenses    

Intangible Assets    

Long-term Investments    

Long-term Liabilities    

Net Income / (Loss)    

Property, Plant and Equipment    

Revenues    

Stockholders’ Equity    

Total Assets    

Total Current Assets    

Total Current Liabilities    

Total Expenses    

Total Intangible Assets    

Total Liabilities    

Total Liabilities and Stockholders’ Equity    

Total Long-term Investments    

Total Long-term Liabilities    

Total Property, Plant and Equipment    

Total Revenues    

Total Stockholders’ Equity    

$

Current Assets

Current Liabilities

Expenses

Intangible Assets

Long-term Investments

Long-term Liabilities

Net Income / (Loss)

Property, Plant and Equipment

Revenues

Stockholders’ Equity

Total Assets

Total Current Assets

Total Current Liabilities

Total Expenses

Total Intangible Assets

Total Liabilities

Total Liabilities and Stockholders’ Equity

Total Long-term Investments

Total Long-term Liabilities

Total Property, Plant and Equipment

Total Revenues

Total Stockholders’ Equity

Current Assets    

Current Liabilities    

Expenses    

Intangible Assets    

Long-term Investments    

Long-term Liabilities    

Net Income / (Loss)    

Property, Plant and Equipment    

Revenues    

Stockholders’ Equity    

Total Assets    

Total Current Assets    

Total Current Liabilities    

Total Expenses    

Total Intangible Assets    

Total Liabilities    

Total Liabilities and Stockholders’ Equity    

Total Long-term Investments    

Total Long-term Liabilities    

Total Property, Plant and Equipment    

Total Revenues    

Total Stockholders’ Equity    

Current Assets

Current Liabilities

Expenses

Intangible Assets

Long-term Investments

Long-term Liabilities

Net Income / (Loss)

Property, Plant and Equipment

Revenues

Stockholders’ Equity

Total Assets

Total Current Assets

Total Current Liabilities

Total Expenses

Total Intangible Assets

Total Liabilities

Total Liabilities and Stockholders’ Equity

Total Long-term Investments

Total Long-term Liabilities

Total Property, Plant and Equipment

Total Revenues

Total Stockholders’ Equity

$

SHOW LIST OF ACCOUNTS

LINK TO TEXT

(a) Compute ending inventory and cost of goods sold under FIFO, assuming Carla Vista Co. uses the periodic inventory system.

Ending Inventory$

Cost of Goods Sold$

(b) Compute ending inventory and cost of goods sold under LIFO, assuming Carla Vista Co. uses the periodic inventory system.

Ending Inventory$

Cost of Goods Sold$

  • Attachment 1
  • Attachment 2
  • Attachment 3
  • Attachment 4
  • Attachment 5

3 / 20 / 2019Wiley PLUSComprehensive Accounting Cycle Review 6On December 1 , 2017 , Carla Vista Co . had the account balances shown below .DebitsCreditsCash$ 4 , 6400 Accumulated Depreciation – Equipment*$ 1 , 380Accounts Receivable*3 , 760Accounts Payable*2, 900Inventory ( 2 , 700 * $0. 50 )1 , 350` Common Stock*10 , 800Equipment*19 , 400 Retained Earnings14 , 070$ 29 , 150$29 , 150The following transactions occurred during December ."Dec . 3 Purchased 3 , 700 units of inventory on account at a cost of $0. 78 per unit ."5 Sold 4 , 100 units of inventory on account for $0. 90 per unit . ( It sold 2 , 700 of the $0. 50 units and 1 , 400*of the $0 . 78. )|7 Granted the December 5 customer $ 270 credit for 300 units of inventory returned costing $ 240 . Theseunits were returned to inventory .`17 Purchased 2 , 200 units of inventory for cash at $0. 80 each .*22 Sold 2 , 100 units of inventory on account for $0. 88 per unit . ( It sold 2 , 100 of the $0. 78 units . )Adjustment data :`1 . Accrued salaries and wages payable $ 400 .2 . Depreciation on equipment $ 200 per month .3 . Income tax expense was $ 200 , to be paid next year .Journalize the December transactions and adjusting entries , assuming Carla Vista Co. uses the perpetualinventory method . ( Credit account titles are automatically indented when amount is entered . Do notindent manually . Record journal entries in the order presented in the problem . )DateAccount Titles and ExplanationDebitcredit( To record sales revenue . )( To record cost of goods sold . )https :/ /edugen . wileyplus . com/edugen student mainfor uni*

 
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