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Q 6 Odeh Chapter 13
Q 6 Odeh Chapter 13
Inventory CD 600000
Cash 600000
………………………………………………………
Sold 2800000 ,
Cash 2800000
Sales Revenue 2800000
………………………………………………………..
800000 Redeemed Bottles Every 5
800000 / 5 = 160000
Cu
stomer Paid
160000 x 3 = 480000
………………………………
Cost Premium
160000 x 2 = 320000
Premium Exp. 320000
Cash 480000
Inventory CD 608000 (160000x3.8)
Post Payable 192000 (160000x1.2)
……………………………………………………..
Expected 600000 / 5 = 120000 x 2 = 240000
Premium Exp. 240000
Premium Liability 240000
………………………………………………
2019
Purchased 500000 , Price 3
500000 x 3 = 1500000
Inventory CD 1500000
Cash 1500000
………………………………………………..
Sold 3600000
Cash 3600000
Sales Revenue 3600000
……………………………………………..
1800000 Redeemed Every 5
1800000 / 5 = 360000 x 2 = 720000
Customer Paid
360000 x 3 = 1080000
………………………………………..
Premium Exp. 720000
Cash 1080000
Inventory CD 1368000 (360000*3.8)
Post Payable 432000 (360000*1.2)
………………………………………………………….
Expected 900000 / 5 = 180000 x 2 = 360000
Premium Liability
240000
120000
360000