Homework Answers
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| Jun 4 | Merchandise Inventory | $ 9,400 | ||
| Accounts Payable | $ 9,400 | |||
| Jun 12 | Accounts Payable | $ 510 | ||
| Merchandise Inventory | $ 510 | |||
| (To record goods returned) | ||||
| Jun 12 | Accounts Payable ($9,400-$510) | $ 8,890 | ||
| Cash | $ 8,890 | |||
| (To record payment) | ||||
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CALCULATOR FULL SCREEN PRINTER Exercise 227 June 4 Ivanhoe Company purchased $9,400 worth of merchandise, terms...
June 4 Sandhill Company purchased $9,200 worth of merchandise, terms n/30 from Hayes Company. The cost...
June 4 Sandhill Company purchased $9,200 worth of merchandise, terms n/30 from Hayes Company. The cost of the merchandise was $7,000. 12 Sandhill returned $510 worth of goods to Hayes for full credit. The goods had a cost of $350 to Hayes. 12 Sandhill paid the account in full. Assume use of the perpetual inventory system for both companies. Prepare the journal entries to record these transactions in Sandhill’s books. (Credit account titles are automatically indented when the amount is...
CULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 5-4 On June 10, Tutun Company purchased 38,150...
CULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 5-4 On June 10, Tutun Company purchased 38,150 of merchandise from Epps Company FOB shipping point, terms 4/10, 1/30. Turun pays the freight costs of $590 on June 11. Damaged goods totaling $300 are returned to Epps for credit on June 12 The fair value of these goods is $220. On June 19, Turun pays Epps Company in full less the purchase discount, Both companies use perpetual inventory system. Prepare separate entries...
PROBLEM #2: Black Company purchased $7,000 worth of merchandise, terms n/30 from Hayes Company. The cost...
PROBLEM #2: Black Company purchased $7,000 worth of merchandise, terms n/30 from Hayes Company. The cost of the merchandise was $4,900. June 4 Black returned $500 worth of goods to Hayes for fullcredit. The goods had a cost of $350 to Hayes. 12 12 Black paid the account in full Instructions Prepare the journal entries to record these transactions in (a) Black's records and (b) Hayes' records. Assume use of the perpetual inventory system for both companies
Current Allempl II Progress On June 10, Skysong Company purchased $6,600 of merchandise from Sheridan Company,...
Current Allempl II Progress On June 10, Skysong Company purchased $6,600 of merchandise from Sheridan Company, on account, terms 4/10, n/30. Skysong pays the freight costs of $350 on June 11. Goods totaling $300 are returned to Sheridan for credit on June 12. On June 19, Skysong Company pays Sheridan Company in full, less the purchase discount. Both companies use a perpetual inventory system. Prepare separate entries for each transaction on the books of Skysong Company. (If no entry is...
On June 10, Kingbird Company purchased $8,200 of merchandise from Blossom Company, on account, terms 4/10,...
On June 10, Kingbird Company purchased $8,200 of merchandise from Blossom Company, on account, terms 4/10, 30 Kingbird pays the freight costs of $410 on June 11. Goods totaling $400 are returned to Blossom for credit on June 12. On June 19,Kingbird Company pays Blossom Company in full, less the purchase discount. Both companies use a perpetual inventory system Prepare separate entries for each transaction on the books of Kingbird Company f no entry is required, select "No Entry" for...
On June 10, Marin Company purchased $6,200 of merchandise from Cullumber Company, on account, terms 4/10,...
On June 10, Marin Company purchased $6,200 of merchandise from Cullumber Company, on account, terms 4/10, 1/30. Marin pays the freight costs of $100 on June 11. Goods totale $300 are returned to Cullumber for credit on June 12. On June 19, Marin Company pays Culumber Company in full less the purchase discount. Both companies use a perpetual Inventory system Your answer is partially correct. Prepare separate entries for each transaction on the books of Marin Company. (If no entry...
On June 10,Crane Company purchased $ 6,100 of merchandise from Sheridan Company, terms 2/10, n/30. Crane...
On June 10,Crane Company purchased $ 6,100 of merchandise from Sheridan Company, terms 2/10, n/30. Crane Company pays the freight costs of 360 on June 11. Goods totaling $400 are returned to Sheridan Company for credit on June 12.On June 19, Crane Company pays Sheridan Company in full, less the purchase discount. Both companies use a perpetual inventory system Prepare separate entries for each transaction on the books of Crane Company.( no entry is required, select "No Entry' for the...
On March 2, Ivanhoe Company sold $863,000 of merchandise on account to Sarasota Company, terms 2/10,...
On March 2, Ivanhoe Company sold $863,000 of merchandise on
account to Sarasota Company, terms 2/10, n/30. The cost of the
merchandise sold was $577,000. (Credit account titles are
automatically indented when amount is entered. Do not indent
manually.)
Brief Exercise 5-04 a-c (Part Level Submission) Prepare the journal entries to record the following transactions on Ivanhoe Company's books using a perpetual inventory system. (a) On March 2, Ivanhoe Company sold $863,000 of merchandise on account to Sarasota Company, terms...
Prepare the journal entries to record the following transactions on Ivanhoe Company's books using a perpetual...
Prepare the journal entries to record the following transactions on Ivanhoe Company's books using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (a) On March 2, Metlock Company sold $882,900 of merchandise to Ivanhoe Company on account, terms 3/10, n/30. The cost...
Thank you. thumbs up! Exercise 5-04 a-b (Video) On June 10, Tuzun Company purchased $8,000 of...
Thank you. thumbs up!
Exercise 5-04 a-b (Video) On June 10, Tuzun Company purchased $8,000 of merchandise on account from Epps Company, FOB shipping point, terms 2/10, n/30. Tuzun pays the freight costs of $400 on June 11. Damaged goods totaling $300 are returned to Epps for credit on June 12 The fair value of these goods is $70. On June 19, Tuzun pays Epps Company in full, less the purchase discount. Both companies use a perpetual inventory system. Prepare...
CULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 5-4 On June 10, Tutun Company purchased 38,150 of merchandise from Epps Company FOB shipping point, terms 4/10, 1/30. Turun pays the freight costs of $590 on June 11. Damaged goods totaling $300 are returned to Epps for credit on June 12 The fair value of these goods is $220. On June 19, Turun pays Epps Company in full less the purchase discount, Both companies use perpetual inventory system. Prepare separate entries...
PROBLEM #2: Black Company purchased $7,000 worth of merchandise, terms n/30 from Hayes Company. The cost of the merchandise was $4,900. June 4 Black returned $500 worth of goods to Hayes for fullcredit. The goods had a cost of $350 to Hayes. 12 12 Black paid the account in full Instructions Prepare the journal entries to record these transactions in (a) Black's records and (b) Hayes' records. Assume use of the perpetual inventory system for both companies
Current Allempl II Progress On June 10, Skysong Company purchased $6,600 of merchandise from Sheridan Company, on account, terms 4/10, n/30. Skysong pays the freight costs of $350 on June 11. Goods totaling $300 are returned to Sheridan for credit on June 12. On June 19, Skysong Company pays Sheridan Company in full, less the purchase discount. Both companies use a perpetual inventory system. Prepare separate entries for each transaction on the books of Skysong Company. (If no entry is...
On June 10, Kingbird Company purchased $8,200 of merchandise from Blossom Company, on account, terms 4/10, 30 Kingbird pays the freight costs of $410 on June 11. Goods totaling $400 are returned to Blossom for credit on June 12. On June 19,Kingbird Company pays Blossom Company in full, less the purchase discount. Both companies use a perpetual inventory system Prepare separate entries for each transaction on the books of Kingbird Company f no entry is required, select "No Entry" for...
On June 10, Marin Company purchased $6,200 of merchandise from Cullumber Company, on account, terms 4/10, 1/30. Marin pays the freight costs of $100 on June 11. Goods totale $300 are returned to Cullumber for credit on June 12. On June 19, Marin Company pays Culumber Company in full less the purchase discount. Both companies use a perpetual Inventory system Your answer is partially correct. Prepare separate entries for each transaction on the books of Marin Company. (If no entry...
On June 10,Crane Company purchased $ 6,100 of merchandise from Sheridan Company, terms 2/10, n/30. Crane Company pays the freight costs of 360 on June 11. Goods totaling $400 are returned to Sheridan Company for credit on June 12.On June 19, Crane Company pays Sheridan Company in full, less the purchase discount. Both companies use a perpetual inventory system Prepare separate entries for each transaction on the books of Crane Company.( no entry is required, select "No Entry' for the...
On March 2, Ivanhoe Company sold $863,000 of merchandise on
account to Sarasota Company, terms 2/10, n/30. The cost of the
merchandise sold was $577,000. (Credit account titles are
automatically indented when amount is entered. Do not indent
manually.)
Brief Exercise 5-04 a-c (Part Level Submission) Prepare the journal entries to record the following transactions on Ivanhoe Company's books using a perpetual inventory system. (a) On March 2, Ivanhoe Company sold $863,000 of merchandise on account to Sarasota Company, terms...
Prepare the journal entries to record the following transactions on Ivanhoe Company's books using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (a) On March 2, Metlock Company sold $882,900 of merchandise to Ivanhoe Company on account, terms 3/10, n/30. The cost...
Thank you. thumbs up!
Exercise 5-04 a-b (Video) On June 10, Tuzun Company purchased $8,000 of merchandise on account from Epps Company, FOB shipping point, terms 2/10, n/30. Tuzun pays the freight costs of $400 on June 11. Damaged goods totaling $300 are returned to Epps for credit on June 12 The fair value of these goods is $70. On June 19, Tuzun pays Epps Company in full, less the purchase discount. Both companies use a perpetual inventory system. Prepare...
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