Question: Determining Net Purchases
The following amounts were obtained from the accounting records of Newton Company, Washington Inc., and Adams Company:
|
Newton |
Washington |
Adams |
| Purchases |
$67,200 |
$102,000 |
(c) |
| Freight-in |
2,300 |
(b) |
3,475 |
| Purchase Discounts |
(4,110) |
(9,700) |
(5,000) |
| Purchase Returns and Allowances |
(3,180) |
(8,250) |
(1,210) |
| Net Purchases |
(a) |
92,600 |
45,500 |
Required: Compute the missing amounts.
|
Newton |
Washington |
Adams |
| Purchases |
$67,200 |
$102,000 |
$ |
| Freight-in |
2,300 |
|
3,475 |
| Purchase Discounts |
(4,110) |
(9,700) |
(5,000) |
| Purchase Returns and Allowances |
(3,180) |
(8,250) |
(1,210) |
| Net Purchases |
|
92,600 |
45,500 |