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Pacific Restaurant Supply Ltd.
內容大綱
One month's worth of purchases and sales at a restaurant supply company must be recorded, the ending balance in accounts receivable and accounts payable must be determined, and the revenue and cost of goods sold sections of an income statement must be prepared. This exercise is suitable for an introductory course in financial accounting.
學習目標
The objectives of this case are: to help students understand how to account for cash and credit sales; introduce students to accounting entries involved with the periodic inventory system; demonstrate how cost of goods sold is calculated.