Alegria Inc. sells Alegria Sizzling Fried Chicken in 2022 February. Alegria Inc. had the following transactions with Simon's Franchise Company. January 5, 2022 January 10, 2022 January 15, 2022 January 16, 2022 Received an order from Ana's Beauty Salon for 20 Boxes of Sizzling Fried Chicken. Each box is being sold at P2,000.00 Alegria Sizzling Fried Chicken delivered 12 boxes of Ana's order. Alegria Sizzling Fried Chicken delivered 6 more boxes. Alegria Sizzling Fried Chicken received 2 boxes returned by Ana's Beauty Salon. January 20, 2022 Requirement: o Determine the Net sales to Ana Beauty Salon. o Show the transaction in pertinent T-Accounts. o What account titles are affected in the above mentioned transaction. Alegria Sizzling Fried Chicken received PhP20,000. From Ana's Beauty Salon as partial payment.

Alegria Inc. sells Alegria Sizzling Fried Chicken in 2022 February. Alegria Inc. had the following transactions with Simon's Franchise Company. January 5, 2022 January 10, 2022 January 15, 2022 January 16, 2022 Received an order from Ana's Beauty Salon for 20 Boxes of Sizzling Fried Chicken. Each box is being sold at P2,000.00 Alegria Sizzling Fried Chicken delivered 12 boxes of Ana's order. Alegria Sizzling Fried Chicken delivered 6 more boxes. Alegria Sizzling Fried Chicken received 2 boxes returned by Ana's Beauty Salon. January 20, 2022 Requirement: o Determine the Net sales to Ana Beauty Salon. o Show the transaction in pertinent T-Accounts. o What account titles are affected in the above mentioned transaction. Alegria Sizzling Fried Chicken received PhP20,000. From Ana's Beauty Salon as partial payment.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter17: Advanced Issues In Revenue Recognition

Section: Chapter Questions

Problem 11RE

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