Question

The following fact statements apply to Alpha Computer Solutions. Alpha uses a perpetual inventory system, and its year end is December 31. In the space provided, prepare all appropriate journal entries in good form for the following events (Omit dates and explanations and round to nearest dollar). If no entry required, enter “No Entry”. Purchased 10 shares of Cyclotron Industries for $32/share. Management classified this purchase as a trading security. Received order from Omega, Inc. for 200 Zorak Model 12 devices for $27,000 each. Alpha manufactures the devices for a total cost of $15, 500 each.

 

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