Jan
25
2012
Homeware Sale
What accounts are effected and by how much? please state reasons?
Trial balance has a balance date of 31 January 2010 and includes:
2010-Sales-Homeware CR 286,000
2009-Sales-Homeware CR 267,000
2010-cost of goods sold DR 228,600
2009-cost of goods sold DR 224,480
In February 2010, it was discovered that a batch of January homecare credit sales transactions totalling $330,000 (cost $156,000) had not been processed.
Not only would the January sales be increased by 330,000 and the cost of goods sold be increased by 156,000, but the gross profit (sales – cost of goods sold) would be increased from 58,000 to 174,000
BL2011 Best & Less 4 Day Homeware Sale
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Travel Bag – Suit (Black) (44 X 24 X 5) $6.25 Lightweight yet durable, the garment bag features a loop and carry strap, an I.D. card pocket, and a self-correcting zipper. In executive black with grey piping…. |
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