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XACC 290 Week 7 - BE5-1, E5-10, and P5-2A

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Description

XACC 290 Week 7 Answer Guide

XACC 290 is a grueling 9 week introduction into financial accounting. This fast paced course has students learning the basics of financial statements, the accounting cycle, and journal entries, and much more. Our innovative study guides contain sample papers and assignment/textbook solutions to help you earn better grades. 

What's Included in the XACC/291 Week 7 Study Guide?

  • Detailed Solutions to BE5-1, E5-10, and P5-2A
  • All Work Shown
  • Textbook: Financial Accounting: Tools for Business Decision Making (6th or 7th edition and WileyPlus).

  • Unlimited Support from ACC Nerd Accounting Experts 

Preview of Answers

BE5-1 Presented here are the components in Pedersen Company's income statement Determine the missing amounts

 

Sales

COGS

Gross Profit

Operating Exp.

Net Income

71,200

41,200

30,000

19,200

10,800

 

E5-10

POLLARD COMPANY

Cost of Goods Sold

Beginning Inventory

 

18,700

Purchases

154,000

 

Less: Purchase Returns and Allowances

5,000

 

 

P5-2A

Date

Account

Debit

Credit

June 1

Merchandise Inventory

1,040

 

 

  Accounts Payable

 

1,040

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