Homework Answers
| Date | Account titles & Explanations | Debit | Credit | |||||
| 5-May | Merchandise inventory | 6,100 | ||||||
| Accounts payable | 6,100 | |||||||
| 12-May | Accounts payable | 2,500 | ||||||
| merchandise inventory | 2,500 | |||||||
| 14-May | Accounts payable | (6100-2500) | 3600 | |||||
| merchandise inventory | (6000-2500)*2% | 70 | ||||||
| cash | (3500*98%+100) | 3530 | ||||||
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DO YOU ADD OR SUBTRACT OR NEITHER 6000 and 100???? help
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Name: Date: Class: Unit...
GELP ASAP Date: Date: Class: III Accounting I 13. Journalize the following transactions assuming a perpetual...
GELP ASAP
Date: Date: Class: III Accounting I 13. Journalize the following transactions assuming a perpetual inventory system: way Purchased merchandise from Archie Co., $6,000, terms FOB shipping point, 2/10, n/30. Prepaid freight costs of $100 were added to the invoice. Issued a debit memo to Archic Co. for $2,500 of merchandise returned from purchase on May 5. Paid Archie Co. for invoice of May 5, less debit memo of May 12 and discount. 12 14
Date: Date: Class: III Accounting I 13. Journalize the following transactions assuming a perpetual inventory system:...
Date: Date: Class: III Accounting I 13. Journalize the following transactions assuming a perpetual inventory system: way Purchased merchandise from Archie Co., $6,000, terms FOB shipping point, 2/10, n/30. Prepaid freight costs of $100 were added to the invoice. Issued a debit memo to Archie Co. for $2,500 of merchandise returned from purchase on May 5. Paid Archie Co. for invoice of May 5, less debit memo of May 12 and discount. 12 14
IS THIS CORRECT I DONT THINK IT IS HELP ASAP nate: Date: Class: TIL Accounting] 13....
IS THIS CORRECT I DONT THINK IT IS HELP ASAP
nate: Date: Class: TIL Accounting] 13. Journalize the following transactions assuming a perpetual inventory system: Purchased merchandise from Archie Co., $6,000, terms FOB shipping point, 2/10, 1/30. Prepaid freight costs of $100 were added to the invoice. 12 Issued a debit memo to Archie Co. for $2,500 of merchandise returned from purchase on May 5. 14 Paid Archie Co. for invoice of May 5, less debit memo of May 12...
Date: Class: Name: Unit TIL Accounting 1 13. Journalize the following transactions assuring a perpetual inventory...
Date: Class: Name: Unit TIL Accounting 1 13. Journalize the following transactions assuring a perpetual inventory system: May 5 Purchased merchandis Purchased merchandise from Archie Co., $6.000. terms FOB shipping point, 2/10,nso Prepaid freight costs of $100 were added to the invoice. 12 Issued a debit memo to Archie Co. for $2,500 of merchandise returned from purchase on May 5. 14 Paid Archie Co. for invoice of May 5, less debit memo of May 12 and discount. Date Description Debit...
Date: Class: Name: Unit TIL Accounting 1 13. Journalize the following transactions assuring a perpetual inventory...
Date: Class: Name: Unit TIL Accounting 1 13. Journalize the following transactions assuring a perpetual inventory system: May 5 Purchased merchandis Purchased merchandise from Archie Co., $6.000. terms FOB shipping point, 2/10,nso Prepaid freight costs of $100 were added to the invoice. 12 Issued a debit memo to Archie Co. for $2,500 of merchandise returned from purchase on May 5. 14 Paid Archie Co. for invoice of May 5, less debit memo of May 12 and discount. Date Description Debit...
nate: Date: Class: IILAccounting 13. Journalize the following transactions assuming a perpetual inventory system: M...
nate: Date: Class: IILAccounting 13. Journalize the following transactions assuming a perpetual inventory system: May 5 Purchased merchandise from Archie Co., $6,000, terms FOB shipping point, 2/10, n/30 Prepaid freight costs of $100 were added to the invoice Issued a debit memo to Archie Co. for $2,500 of merchandise returned from purchase on May 5. 12 14 Paid Archie Co. for invoice of May 5, less debit memo of May 12 and discount.
DO YOU SUBTRACT 6000 - 100???? AT&T LTE 11:27 PM 1 57% Answer 1 of 1...
DO YOU SUBTRACT 6000 - 100????
AT&T LTE 11:27 PM 1 57% Answer 1 of 1 Done Journal Entries: Date Account Titles and Explanations Debit Credit Aug. 1 Merchandise Inventory $6,000 Accounts Payable $6,000 (To record the purchase of merchandise inventory on account) Aug. 3 Accounts Payable $1,500 Merchandise Inventory $1,500 (To record the return of the merchandise inventory on account) Aug. 10 Cash $9,750 Sales Revenue $9.750 (To record the cash sales) Cost of Goods Sold $4,000 Merchandise Inventory...
OS THIS CORRECT???? lAT&T LTE 11:55 PM 151% description |may 5 merchandise inventory a/e .To accounts payable a...
OS THIS CORRECT????
lAT&T LTE 11:55 PM 151% description |may 5 merchandise inventory a/e .To accounts payable a/c (amount = 6000 *(1-0.02)+100 >5,880+100>5,980) debit credti date 5,980 5,980 may 12 accounts payable a/e 2,450 2,450 .To merchandise inventory (amount 2500 (1-0.02 discount)->2,450) may 14 accounts payable a/c 3,530 To cash a/c 3,530 (amount 5980-2450->3530) nate: Date: Class: IILAccounting 13. Journalize the following transactions assuming a perpetual inventory system: May 5 Purchased merchandise from Archie Co., $6,000, terms FOB shipping point,...
Purchase-Related Transactions Using Perpetual Inventory System The following selected transactions were completed by Niles Co. during...
Purchase-Related Transactions Using Perpetual Inventory System The following selected transactions were completed by Niles Co. during March of the current year, Niles Co. uses the net method under a perpetual inventory system. Mar. 1. Purchased merchandise from Haas Co., $9,150, terms FOB shipping point, 2/10, /eom. Prepaid freight of $210 was added to the invoice. 5. Purchased merchandise from Whitman Co., $14,376, terms FOB destination, 1/30. 10. Pald Haas Co. for invoice of March 1 13. Purchased merchandise from Jost...
Purchase-Related Transactions Using Perpetual Inventory System The following selected transactions were completed by Niles Co. during...
Purchase-Related Transactions Using Perpetual Inventory System The following selected transactions were completed by Niles Co. during March of the current year: Mar. 1. Purchased merchandise from Haas Co., $17,700, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $150 was added to the invoice. 5. Purchased merchandise from Whitman Co., $11,100, terms FOB destination, n/30. 10. Paid Haas Co. for invoice of March 1. 13. Purchased merchandise from Jost Co., $6,700, terms FOB destination, 1/10, n/30. 14. Issued debit memo...
GELP ASAP
Date: Date: Class: III Accounting I 13. Journalize the following transactions assuming a perpetual inventory system: way Purchased merchandise from Archie Co., $6,000, terms FOB shipping point, 2/10, n/30. Prepaid freight costs of $100 were added to the invoice. Issued a debit memo to Archic Co. for $2,500 of merchandise returned from purchase on May 5. Paid Archie Co. for invoice of May 5, less debit memo of May 12 and discount. 12 14
Date: Date: Class: III Accounting I 13. Journalize the following transactions assuming a perpetual inventory system: way Purchased merchandise from Archie Co., $6,000, terms FOB shipping point, 2/10, n/30. Prepaid freight costs of $100 were added to the invoice. Issued a debit memo to Archie Co. for $2,500 of merchandise returned from purchase on May 5. Paid Archie Co. for invoice of May 5, less debit memo of May 12 and discount. 12 14
IS THIS CORRECT I DONT THINK IT IS HELP ASAP
nate: Date: Class: TIL Accounting] 13. Journalize the following transactions assuming a perpetual inventory system: Purchased merchandise from Archie Co., $6,000, terms FOB shipping point, 2/10, 1/30. Prepaid freight costs of $100 were added to the invoice. 12 Issued a debit memo to Archie Co. for $2,500 of merchandise returned from purchase on May 5. 14 Paid Archie Co. for invoice of May 5, less debit memo of May 12...
Date: Class: Name: Unit TIL Accounting 1 13. Journalize the following transactions assuring a perpetual inventory system: May 5 Purchased merchandis Purchased merchandise from Archie Co., $6.000. terms FOB shipping point, 2/10,nso Prepaid freight costs of $100 were added to the invoice. 12 Issued a debit memo to Archie Co. for $2,500 of merchandise returned from purchase on May 5. 14 Paid Archie Co. for invoice of May 5, less debit memo of May 12 and discount. Date Description Debit...
Date: Class: Name: Unit TIL Accounting 1 13. Journalize the following transactions assuring a perpetual inventory system: May 5 Purchased merchandis Purchased merchandise from Archie Co., $6.000. terms FOB shipping point, 2/10,nso Prepaid freight costs of $100 were added to the invoice. 12 Issued a debit memo to Archie Co. for $2,500 of merchandise returned from purchase on May 5. 14 Paid Archie Co. for invoice of May 5, less debit memo of May 12 and discount. Date Description Debit...
nate: Date: Class: IILAccounting 13. Journalize the following transactions assuming a perpetual inventory system: May 5 Purchased merchandise from Archie Co., $6,000, terms FOB shipping point, 2/10, n/30 Prepaid freight costs of $100 were added to the invoice Issued a debit memo to Archie Co. for $2,500 of merchandise returned from purchase on May 5. 12 14 Paid Archie Co. for invoice of May 5, less debit memo of May 12 and discount.
DO YOU SUBTRACT 6000 - 100????
AT&T LTE 11:27 PM 1 57% Answer 1 of 1 Done Journal Entries: Date Account Titles and Explanations Debit Credit Aug. 1 Merchandise Inventory $6,000 Accounts Payable $6,000 (To record the purchase of merchandise inventory on account) Aug. 3 Accounts Payable $1,500 Merchandise Inventory $1,500 (To record the return of the merchandise inventory on account) Aug. 10 Cash $9,750 Sales Revenue $9.750 (To record the cash sales) Cost of Goods Sold $4,000 Merchandise Inventory...
OS THIS CORRECT????
lAT&T LTE 11:55 PM 151% description |may 5 merchandise inventory a/e .To accounts payable a/c (amount = 6000 *(1-0.02)+100 >5,880+100>5,980) debit credti date 5,980 5,980 may 12 accounts payable a/e 2,450 2,450 .To merchandise inventory (amount 2500 (1-0.02 discount)->2,450) may 14 accounts payable a/c 3,530 To cash a/c 3,530 (amount 5980-2450->3530) nate: Date: Class: IILAccounting 13. Journalize the following transactions assuming a perpetual inventory system: May 5 Purchased merchandise from Archie Co., $6,000, terms FOB shipping point,...
Purchase-Related Transactions Using Perpetual Inventory System The following selected transactions were completed by Niles Co. during March of the current year, Niles Co. uses the net method under a perpetual inventory system. Mar. 1. Purchased merchandise from Haas Co., $9,150, terms FOB shipping point, 2/10, /eom. Prepaid freight of $210 was added to the invoice. 5. Purchased merchandise from Whitman Co., $14,376, terms FOB destination, 1/30. 10. Pald Haas Co. for invoice of March 1 13. Purchased merchandise from Jost...
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