Homework Answers
| Account Titles and Explanation | Debit | Credit | |
| Inventory | 900000 | ||
| Accounts Payable | 900000 | ||
| Account Titles and Explanation | Debit | Credit | |
| Accounts Payable | 90000 | ||
| Inventory | 90000 | ||
| Account Titles and Explanation | Debit | Credit | |
| Accounts Payable | 810000 | ||
| Inventory | 16200 | =810000*2% | |
| Cash | 793800 |
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Brief Exercise 5-05 a-c Prepare the journal entries to record the following...
Brief Exercise 5-4 Prepare the journal entries to record the following transactions on Whispering Winds Corp.'s...
Brief Exercise 5-4 Prepare the journal entries to record the following transactions on Whispering Winds Corp.'s books using a perpetual inventory system. On March 2, Whispering Winds Corp. sold $815,000 of merchandise on account to Martinez Company, terms 4/10, 1/30. The cost of the merchandise sold was $603,000. (Credl manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Accounts Receivable 815000 Sales Commissions Expense 815000...
Please show how you got the answers. Prepare the journal entries to record the following transactions...
Please show how you got the
answers.
Prepare the journal entries to record the following transactions on Ayayai Company's books using a perpetual inventory system Your answer is correct. On March 2, Blossom Company sold £801,000 of merchandise on account to Ayayal Company, terms 2/10,n/30. The cost of the merchandise sold was £521,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry"for the account titles and enter...
Thank you. thumbs up! Exercise 5-02 a-b Information related to Harwick Co. is presented below. 1....
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Exercise 5-02 a-b Information related to Harwick Co. is presented below. 1. On April 5, purchased merchandise on account from Botham Company for $23,000, terms 2/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of $900 on merchandise purchased from Botham. 3. On April 7, purchased equipment on account for $26,000. 4. On April 8, returned damaged merchandise to Botham Company and was granted a $3,000 credit for returned merchandise. 5. On April...
Brief Exercise 5-3 Prepare the journal entries to record the following transactions on Novak Corp.'s books...
Brief Exercise 5-3 Prepare the journal entries to record the following transactions on Novak Corp.'s books using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) on March 2, Novak Corp. sold E758,000 of merchandise to Edgebrook Company, terms 2/10, n/30. The cost of the merchandise sold was E524,000. Account Tities and Explanation Debit Credit (To record the sale) (To record cost of merchandise sold) (b) on March 6, Edgebrook...
Prepare the journal entries to record these transactions on Carla Vista Kitchen's books using a periodic...
Prepare the journal entries to record these transactions on Carla Vista Kitchen's books using a periodic inventory system - Your answer is partially correct. On March 2, Carla Vista purchased £872,500 of merchandise on account from Flint Cabinets, terms 3/10,n/30. (Credit account tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Account Titles and Explanation Accounts Receivable 872500...
Thank you. thumbs up! Exercise 5-05 a-b Presented below are transactions related to Bogner Company 1....
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Exercise 5-05 a-b Presented below are transactions related to Bogner Company 1. On December 3, Bogner Company sold $570,000 of merchandise on account to Maris Co., terms 2/10, n/30, FOB shipping point. The cost of the merchandise sold was $350,000. 2. On December 8, Maris Co. was granted an allowance of $20,000 for merchandise purchased on December 3. 3. On December 13, Bogner Company received the balance due from Maris Co. Prepare the journal entries to...
Brief Exercise 13-10 Teal Inc. is involved in a lawsuit at December 31, 2017. Prepare the...
Brief Exercise 13-10 Teal Inc. is involved
in a lawsuit at December 31, 2017. Prepare the December 31 entry
assuming it is probable that Teal will be liable for $954,500 as a
result of this suit. (If no entry is required, select "No Entry"
for the account titles and enter 0 for the amounts. Credit account
titles are automatically indented when amount is entered. Do not
indent manually.) Date Account Titles and Explanation Debit Credit
December 31, 2017 SHOW LIST...
Thank you. thumbs up! Brief Exercise 5-03 Radomir Company buys merchandise on account from Lemke Company....
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Brief Exercise 5-03 Radomir Company buys merchandise on account from Lemke Company. The selling price of the goods is $780, and the cost of the goods is $470. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit...
On March 2, Cullumber Company sold $835,000 of merchandise on account to Bramble Company, terms 2/10,...
On March 2, Cullumber Company sold $835,000 of merchandise on
account to Bramble Company, terms 2/10, n/30. The cost of the
merchandise sold was $585,000. (Credit account titles
are automatically indented when amount is entered. Do not indent
manually.)
Account Titles and Explanation
Debit
Credit
Show List of Accounts
Show Answer
Link to Text
Attempts: 3 of 3 used
(b)
Your answer is partially correct. Try again.
On March 6, Bramble Company returned $83,500 of the merchandise
purchased on March...
On March 2, Skysong, Inc. sold $929,000 of merchandise on account to Riverbed Company, terms 4/10...
On March 2, Skysong, Inc. sold $929,000 of merchandise on account to Riverbed Company, terms 4/10, n/30. The cost of the merchandise sold was $558,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit (To record credit sale) To record cost of merchandise sold) On March 6, Riverbed Company returned $92,900...
Brief Exercise 5-4 Prepare the journal entries to record the following transactions on Whispering Winds Corp.'s books using a perpetual inventory system. On March 2, Whispering Winds Corp. sold $815,000 of merchandise on account to Martinez Company, terms 4/10, 1/30. The cost of the merchandise sold was $603,000. (Credl manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Accounts Receivable 815000 Sales Commissions Expense 815000...
Please show how you got the
answers.
Prepare the journal entries to record the following transactions on Ayayai Company's books using a perpetual inventory system Your answer is correct. On March 2, Blossom Company sold £801,000 of merchandise on account to Ayayal Company, terms 2/10,n/30. The cost of the merchandise sold was £521,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry"for the account titles and enter...
Thank you. thumbs up!
Exercise 5-02 a-b Information related to Harwick Co. is presented below. 1. On April 5, purchased merchandise on account from Botham Company for $23,000, terms 2/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of $900 on merchandise purchased from Botham. 3. On April 7, purchased equipment on account for $26,000. 4. On April 8, returned damaged merchandise to Botham Company and was granted a $3,000 credit for returned merchandise. 5. On April...
Brief Exercise 5-3 Prepare the journal entries to record the following transactions on Novak Corp.'s books using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) on March 2, Novak Corp. sold E758,000 of merchandise to Edgebrook Company, terms 2/10, n/30. The cost of the merchandise sold was E524,000. Account Tities and Explanation Debit Credit (To record the sale) (To record cost of merchandise sold) (b) on March 6, Edgebrook...
Prepare the journal entries to record these transactions on Carla Vista Kitchen's books using a periodic inventory system - Your answer is partially correct. On March 2, Carla Vista purchased £872,500 of merchandise on account from Flint Cabinets, terms 3/10,n/30. (Credit account tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Account Titles and Explanation Accounts Receivable 872500...
Thank you. thumbs up!
Exercise 5-05 a-b Presented below are transactions related to Bogner Company 1. On December 3, Bogner Company sold $570,000 of merchandise on account to Maris Co., terms 2/10, n/30, FOB shipping point. The cost of the merchandise sold was $350,000. 2. On December 8, Maris Co. was granted an allowance of $20,000 for merchandise purchased on December 3. 3. On December 13, Bogner Company received the balance due from Maris Co. Prepare the journal entries to...
Brief Exercise 13-10 Teal Inc. is involved
in a lawsuit at December 31, 2017. Prepare the December 31 entry
assuming it is probable that Teal will be liable for $954,500 as a
result of this suit. (If no entry is required, select "No Entry"
for the account titles and enter 0 for the amounts. Credit account
titles are automatically indented when amount is entered. Do not
indent manually.) Date Account Titles and Explanation Debit Credit
December 31, 2017 SHOW LIST...
Thank you. thumbs up!
Brief Exercise 5-03 Radomir Company buys merchandise on account from Lemke Company. The selling price of the goods is $780, and the cost of the goods is $470. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit...
On March 2, Cullumber Company sold $835,000 of merchandise on
account to Bramble Company, terms 2/10, n/30. The cost of the
merchandise sold was $585,000. (Credit account titles
are automatically indented when amount is entered. Do not indent
manually.)
Account Titles and Explanation
Debit
Credit
Show List of Accounts
Show Answer
Link to Text
Attempts: 3 of 3 used
(b)
Your answer is partially correct. Try again.
On March 6, Bramble Company returned $83,500 of the merchandise
purchased on March...
On March 2, Skysong, Inc. sold $929,000 of merchandise on account to Riverbed Company, terms 4/10, n/30. The cost of the merchandise sold was $558,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit (To record credit sale) To record cost of merchandise sold) On March 6, Riverbed Company returned $92,900...
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