Homework Answers
Final amount due = Sales - sales allowance
= 10,000 - 2,000
= $8,000
Sales Discount amount = Final amount due x Discount percentage
= 8,000 x 2%
= $160
Net sales revenue = Sales - sales allowance - Sales Discount
= 10,000 - 2,000 - 160
= $7,840
Fourth option is correct
Kindly give a positive rating if you are satisfied with the answer. Feel free to ask if you have any doubt. Thanks.
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Question 5 2.5 pts Weston Jewelers uses the perpetual inventory system. On April 2, Weston sold...
DQuestion 13 1 pts Michelin Jewelers completed the following transactions. Michelin Jewelers uses the perpetual inventory...
DQuestion 13 1 pts Michelin Jewelers completed the following transactions. Michelin Jewelers uses the perpetual inventory system. On April 2, Michelin sold $9,000 of merchandise to a customer on account with terms of 3/15, n/30. Michelin's cost of the merchandise sold was $5,500. Which of the following journal entries correctly records the Sales revenue? O Dr. Sales Revenue 8,730: Cr. Acounts Receivable 8.730 O Dr. Cash 8,730, Cr. Sales Revenue 8,730 O Dr. Accounts Receivable 8730: Cr. Sales Revenue 8730...
QUESTION 32 Weston Jewelers uses the perpetual inventory system. On April 2, Weston sold merchandise with...
QUESTION 32 Weston Jewelers uses the perpetual inventory system. On April 2, Weston sold merchandise with a cost of $1.200 for $2,200 to a customer on account with the terms 3/15,n30. Weston paid $125 for delivery of the merchandise. Calculate the amount of gross profit. (Round any intermediary calculations and your final answer to the nearest dolar) 3934 $809 52.134 51.000 QUESTION 33 Which of the following inventory costing methods is based on the actual cost of each particular unit...
un sold merchandise with a cost of $1,257 for S) Weston Jewelers uses the perpetual inventory...
un sold merchandise with a cost of $1,257 for S) Weston Jewelers uses the perpetual inventory system. On April 2, Weston sold merchandise with a cos $2,200 to a customer on account with the terms 3/15, n/30. Weston with the terms 3/15, 1/30. Weston paid $125 for delivery of the merchandise. Calculate the les revenue (Round any intermediary calculations and your final answer to the nearest dollar) A) $2,134 B) $2,325 o $2,200 D) $1,257 en Andent of de enld...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Weston Jewele...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Weston Jewelers uses the perpetual inventory system. On April 2, Weston sold merchandise with a cost of $6,000 for $9,000 to a customer on account with terms of 2/15, n/30. On April 4, the customer reported damaged goods, and Michelin granted a $1,000 sales allowance. On April 10, Weston received payment from the customer. Calculate the amount of net sales revenue. A) $8,000 B)...
16-20 Weston Jewellers uses the perpetual inventory system. On April 2. Weston sold merchandise with a...
16-20
Weston Jewellers uses the perpetual inventory system. On April 2. Weston sold merchandise with a cost of 407 314,152 for delivery of the merchandise. Calculate the amount of net sales revenue Round any intermediary G ions and your fa 4/15.30 Westonad 150 custom count with the t hers ) O A 514.902 OR $8,487 OC. 514.258 OD. $14,652 ance is $35.000. Which of the following ould be included in the . The Merchandise inventory account balance is $80,000. A...
Forever Jewelers uses the perpetual inventory system. On April 2. Forever sold merchandise with a cost...
Forever Jewelers uses the perpetual inventory system. On April 2. Forever sold merchandise with a cost of $4,500 for $7,000 to a customer on account with terms of 1/15, 30 Which of the following journal entries correctly records the sales revenue? 6.930 6.930 4.500 4,500 OA Sales Revenue Accounts Receivable OB. Accounts Receivable Sales Revenue O C. Accounts Receivable Sales Revenue OD. Sales Revenue Cost of Goods Sold 6,930 6,930
Forever Jewelers uses the perpetual inventory system. On April 2, Forever sold merchandise with a cost...
Forever Jewelers uses the perpetual inventory system. On April 2, Forever sold merchandise with a cost of $2,500 for $7,000 to a customer on account with terms of 4/15, n/30. Which of the following journal entries correctly records the sales revenue? 6,720 6,720 6,720 O A. Sales Revenue Accounts Receivable OB. Accounts Receivable Sales Revenue O C. Sales Revenue Cost of Goods Sold 6,720 6,720 6,720 2,500 OD. Accounts Receivable Sales Revenue 2,500
O Forever Jewelers uses the perpetual inventory system on April 2. Forever sold merchandise with a...
O Forever Jewelers uses the perpetual inventory system on April 2. Forever sold merchandise with a cost of 54.000 for $5.500 to a customer on account with forms of 415, 30 Which of the following umalis correctly records the payment received from the customer on April 2017 5,280 220 5.500 5.280 O A Cash Sales Discounts Forted Accounts Receivable O Cash Accounts Receivable Ос. Cash Accounts Receivable Sales Discounts Ford OD Cash Accounts Receivable 5.500 5.280 220 5.500 5.500
Landon Jewelers uses the perpetual inventory system. On April 2. Landon sold merchandise with a cost...
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CH Required information A seller uses a perpetual inventory system, and on April 17, a customer...
CH Required information A seller uses a perpetual inventory system, and on April 17, a customer returns $1,000 of merchandise previously purchased on credit on April 13. The seller's cost of the merchandise returned was $480. The merchandise is not defective and is restored to inventory. The seller has not yet received any cash from the customer. Complete the two Journal entries to record the return transaction by selecting the account names from the drop-down menus and entering the dollar...
DQuestion 13 1 pts Michelin Jewelers completed the following transactions. Michelin Jewelers uses the perpetual inventory system. On April 2, Michelin sold $9,000 of merchandise to a customer on account with terms of 3/15, n/30. Michelin's cost of the merchandise sold was $5,500. Which of the following journal entries correctly records the Sales revenue? O Dr. Sales Revenue 8,730: Cr. Acounts Receivable 8.730 O Dr. Cash 8,730, Cr. Sales Revenue 8,730 O Dr. Accounts Receivable 8730: Cr. Sales Revenue 8730...
QUESTION 32 Weston Jewelers uses the perpetual inventory system. On April 2, Weston sold merchandise with a cost of $1.200 for $2,200 to a customer on account with the terms 3/15,n30. Weston paid $125 for delivery of the merchandise. Calculate the amount of gross profit. (Round any intermediary calculations and your final answer to the nearest dolar) 3934 $809 52.134 51.000 QUESTION 33 Which of the following inventory costing methods is based on the actual cost of each particular unit...
un sold merchandise with a cost of $1,257 for S) Weston Jewelers uses the perpetual inventory system. On April 2, Weston sold merchandise with a cos $2,200 to a customer on account with the terms 3/15, n/30. Weston with the terms 3/15, 1/30. Weston paid $125 for delivery of the merchandise. Calculate the les revenue (Round any intermediary calculations and your final answer to the nearest dollar) A) $2,134 B) $2,325 o $2,200 D) $1,257 en Andent of de enld...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Weston Jewelers uses the perpetual inventory system. On April 2, Weston sold merchandise with a cost of $6,000 for $9,000 to a customer on account with terms of 2/15, n/30. On April 4, the customer reported damaged goods, and Michelin granted a $1,000 sales allowance. On April 10, Weston received payment from the customer. Calculate the amount of net sales revenue. A) $8,000 B)...
16-20
Weston Jewellers uses the perpetual inventory system. On April 2. Weston sold merchandise with a cost of 407 314,152 for delivery of the merchandise. Calculate the amount of net sales revenue Round any intermediary G ions and your fa 4/15.30 Westonad 150 custom count with the t hers ) O A 514.902 OR $8,487 OC. 514.258 OD. $14,652 ance is $35.000. Which of the following ould be included in the . The Merchandise inventory account balance is $80,000. A...
Forever Jewelers uses the perpetual inventory system. On April 2. Forever sold merchandise with a cost of $4,500 for $7,000 to a customer on account with terms of 1/15, 30 Which of the following journal entries correctly records the sales revenue? 6.930 6.930 4.500 4,500 OA Sales Revenue Accounts Receivable OB. Accounts Receivable Sales Revenue O C. Accounts Receivable Sales Revenue OD. Sales Revenue Cost of Goods Sold 6,930 6,930
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O Forever Jewelers uses the perpetual inventory system on April 2. Forever sold merchandise with a cost of 54.000 for $5.500 to a customer on account with forms of 415, 30 Which of the following umalis correctly records the payment received from the customer on April 2017 5,280 220 5.500 5.280 O A Cash Sales Discounts Forted Accounts Receivable O Cash Accounts Receivable Ос. Cash Accounts Receivable Sales Discounts Ford OD Cash Accounts Receivable 5.500 5.280 220 5.500 5.500
Landon Jewelers uses the perpetual inventory system. On April 2. Landon sold merchandise with a cost of $1.500 for 50,000 to a customer on account with forms of $15.30. The Journal entry to record the cost of goods sold would be: 1,500 1,500 1,500 1,500 O A. Sales Revenue Cost of Goods Sold OB. Cost of Goods Sold Accounts Receivable OC. Merchandise Inventory Cost of Goods Sold OD. Cost of Goods Sold Merchandise Inventory 1,500 1,500 1,500 1,500
CH Required information A seller uses a perpetual inventory system, and on April 17, a customer returns $1,000 of merchandise previously purchased on credit on April 13. The seller's cost of the merchandise returned was $480. The merchandise is not defective and is restored to inventory. The seller has not yet received any cash from the customer. Complete the two Journal entries to record the return transaction by selecting the account names from the drop-down menus and entering the dollar...
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