Financial Accounting questions

Please help solve the following:

Timmy Turner Company had the following transactions related to the purchase of merchandise inventory during the month of February:

Required:

1. Prepare the required general journal entries to record the February purchase transactions for Timmy Turner Company in the attached workpaper file.
2. 1. What is cost of goods purchased for February?
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   3. If Timmy Turner did not pay Cosmo Co. until March 1, what would change?
   4. Timmy Turner uses an accounts payable subsidiary ledger. Describe how the journal entries would be posted.
   5. What is the content of a Schedule of Accounts Payable?
   6. What is the purpose of a Schedule of Accounts Payable?
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   10. Jimmy Neutron Company had the following transactions related to the sale of merchandise inventory during the month of April:
       

       Apr 5	Jimmy Neutron sold merchandise costing $6,200 for $12,400 on account to Sheen Co., terms 2/10, n/30, FOB Shipping Point. Sheen Co. paid $150 cash for freight charges to Wheezer’s Delivery Service.
       6	Sheen Co. returned $500 of the merchandise sold on April 5 (cost $250) for credit.
       11	Jimmy Neutron sold merchandise costing $4,800 for $9,600 on account to Libby Co., terms 2/10, n/30, FOB Destination. Jimmy Neutron paid $300 cash for freight charges to Wheezer’s Delivery Service.
       12	In order to match a competitor’s lower price, Jimmy Neutron agreed to reduce the price of the merchandise sold to Libby Co. on April 11 by $700.
       15	Received the amount due from Sheen Co.
       21	Received the amount due from Libby Co.
       	Jimmy Neutron maintains an accounts receivable subsidiary ledger.

       Required:

       1. Prepare the required journal entries to record the April sales transactions for Jimmy Neutron in the attached workpaper file. You will upload your completed file in the next question.
       2. What are the net sales for April? {1}
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       5. The adjusted trial balance of Goddard Company at the end of December 31, 2020 is shown below. Goddard Company uses the perpetual inventory method.
          

          General Journal
          Accounts	Dr	Cr
          Cash	17,800
          Accounts Receivable	9,600
          Supplies	1,400
          Prepaid Insurance	1,800
          Merchandise Inventory	18,700
          Equipment	45,000
          Accumulated Depeciaton-Equipment		9,000
          Buildings	80,000
          Accumulated Depreciation-Buildings		16,000
          Land	20,000
          Accounts Payable		19,700
          Salaries Payable		3,300
          Interest Payable		700
          Long-Term Notes Payable		35,000
          Common Stock		30,000
          Retained Earnings		52,651
          Dividends Declared	8,000
          Sales		250,000
          Sales Returns & Allowances	22,100
          Sales Discounts	9,350
          Cost of Goods Sold Expense	135,501
          Selling Expenses	28,400
          General & Administrative Expenses	19,800
          Miscellaneous Revenues		8,300
          Interest Expense	7,200
          Totals	424,651	424,651

          Required:Compute the amounts requested below.Income Statement:Net Sales Cost of Goods Sold Expense Gross Profit Gross Profit Rate Operating Expenses Operating Income Net Income Statement of Retained Earnings:Ending Retained Earnings Balance Sheet:Current Assets Property, Plant, and Equipment Total Assets Current Liabilities Long-Term Liabilities Total Liabilities Total Stockholders’ Equity Total Liabilities and Stockholders’ Equity

       6. The following additional information is available for Goddard Company on December 31 in addition to the information given in Question 6:Goddard’s beginning merchandise inventory was $16,600. During the year purchases totaling $150,041 were made. The purchase returns and allowances were $14,500, purchase discounts were $9,340 and the freight charges paid were $11,400. Required:
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       10. Prepare a cost of goods sold schedule.The following information is available from the general ledger of Marge Company on March 31:
           

           	Number ofUnits	UnitCost	TotalCost
           Beginning Merchandise Inventory on March 1	350	$12	$4,200
           Purchases:
           March 9	600	$13	$7,800
           March 16	750	$14	$10,500
           March 27	700	$15	$10,500
           Goods Available for Sale	2,400		$33,000

           On March 31, it was determined that 730 units remain on hand. Required:In the attached workpaper, determine the cost of goods sold and the cost of the ending inventory using

           1. First-In, First-out (FIFO) costing
           2. Last-In, First-out (LIFO) costing
           3. Weighted Average costing

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       12. Bart Corporation’s June 30 bank reconciliation included the following information:
           

           Deposits in Transit	$3,310
           Outstanding Checks	#341	$960	#343	$540
           	#342	$1,320	#344	$1,270

           Bart’s July bank statement appeared as follows:Required:

           1. Prepare a bank reconciliation for July 31 for Bart Corporation in the attached workpaper file.
           2. Prepare the necessary journal entries in the attached workpaper file.
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