acct 1001 practice set (1 Viewer)

[Eagles]

Which practice set is this? I need practice..

 

[tempco]

Which practice set is this? I need practice..

haha Eagle, handed in a fudged up Solaire, didn't ya?

 

[ToO LaZy ^*]

oh noes!!1
invasion of the UNSWers..

It's Brendan's Books btw.

 

[absolution*]

can someone post up their trial balance total? puh-lllease...............!!!!!!!!!

ill rep you

 

[tempco]

kekekekekeekekekekekekekekek UNSWUNSWUNSWUNSWUNSWUNSWUNSWUNSWUNSWUNSWUNSWUNSWUNSWUNSW

we're so hot.

/end spam.






where can you purchase this set, and how much does it cost?

 

[ToO LaZy ^*]

The company uses a periodic system (see page 1), so you wouldn't credit inventory, but cr purchase returns and dr accounts payable

and yes it would go in the purchases returns ledger

oh..and another thing.
what would you write in the purchase returns ledger?
credit accounts payable by 860?

EDIT: co-op shop?
i got mine from Texts in the City..which is just 5 mins from usyd.
i got it for $25

 

[kow_dude]

My unadjusted trial balance is still not balanced (as usual), did anyone get it balanced? If so, what did you get for the dr/cr?

 

[WaffenssLAH1985]

My trail balance is 1308252, adjustment is 71446

 

[fush]

my adjustments were a lot higher

 

[absolution*]

my adjustments were a lot higher

Was your trial balance the same though? 1308252 seems a little high.

 

[kow_dude]

My trail balance is 1308252, adjustment is 71446

I haven't done the adjustments yet but my trial balance is one dollar lower

 

[paztaboy]

i got 1308252 for trial balance and 110298 for adjustments. did any body else get that?

 

[011]

And does anyone know why you need a new # for ending inventory to complete the columns of the worksheet? Why wouldnt it be correct, without being given this info?

 

[kow_dude]

Wtf is the adjusting entry for (h) ?!? It doesnt make sense to me~... i plea for help !

 

[absolution*]

What the hell? How come everyones trial balance is so huge? It just doesnt make sense.

 

[fush]

it makes soo much sense

 

[ToO LaZy ^*]

unadj trial: 1308252
adj: 71112
adj trial: 1351564

 

[fush]

how do u do question 6?? if u put the ending inventory in the adjusted trial balance it wont balance and credits will be 37083 more than debits. Some sort of COGS account or Inventory expense account must be debited to 37083 but there is noo such thing,so what do u do?

other than that i am now finshed, just have to fill in the 2 financial statements, also finished the post closing trial balance

 

[011]

Yeah now try filling in the account gaps of the financial statements =(

I also wonder about this inventory business for the closing trial balance.

 

[ToO LaZy ^*]

COGS = beginning inventory + purchases - purchase returns and allowances + freight-in - ending inventory
= 315870 + 41560 - 6640 - 278787
= 72003..
?
anyone else get this...and where in the world do we put this figure.?