Homework Answers
| Transaction | Net sales | Cost of goods sold | Gross profit |
| July 12 | 588 | 475 | 113 |
| July 15 | 5300 | 2650 | 2650 |
| July 20 | -53 | 0 | -53 |
| July 21 | -1400 | -840 | -560 |
| Workings: | ||
| Net sales for July 12 | 588 | =600*(1-2%) |
| Discount for July 20 | 53 | =5300*1% |
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Griffin Shoe Company records Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts as contra-revenues....
Griffin Shoe Company records Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts as contra-revenues.
Griffin Shoe Company records Sales Returns and Allowances, Sales
Discounts, and Credit Card Discounts as contra-revenues.July12Sold merchandise to customer at factory store who charged the
$300 purchase on her American Express card. American Express
charges a 1 percent credit card fee. Cost of goods sold was
$175.July15Sold merchandise to Customer T at an invoice price of $5,000;
terms 3/10, n/30. Cost of goods sold was $2,500.July20Collected cash due from Customer T.July21Before paying for the order, a customer returned shoes with...
Griffin Shoe Company records Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts as contra-rev...
Griffin Shoe Company records Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts as contra-revenues. July 12 Sold merchandise to customer at factory store who charged the $700 purchase on her American Express card. American Express charges a 2 percent credit card fee. Cost of goods sold was $575. July 15 Sold merchandise to Customer T at an invoice price of $5,500; terna 2/10, n/30. Cost of goods sold was $2,750. July 20 collected cash due from Customer T....
Check my work E6-4 (Algo) Determining the Effects of Credit Sales, Sales Discounts, Credit Card Sales,...
Check my work E6-4 (Algo) Determining the Effects of Credit Sales, Sales Discounts, Credit Card Sales, and Sales Returns and Allowances on Income Statement Categories L06-1 Griffin Shoe Company records Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts as contra-revenues. July 12 Sold merchandise to customer at factory store who charged the $400 purchase on her American Express card. American Express charges a 3 percent credit card fee. Cost of goods sold was $275. July 15 Sold merchandise...
E6-3 Reporting Net Sales with Credit Sales, Sales Discounts, Sales Returns, and Credit Card Sales LO6-1...
E6-3 Reporting Net Sales with Credit Sales, Sales Discounts, Sales Returns, and Credit Card Sales LO6-1 The following transactions were selected from among those completed by Cadence Retailers November and December: Nov. 20 Sold 20 items of merchandise to Customer B at an invoice price of $5,800 (total); terms 4/10, n/30. 25 Sold two items of merchandise to Customer C, who charged the $700 sales price on her Visa credit card. Visa charges Cadence Retailers a 3 percent credit card...
Task 1 Reporting Net Sales with Credit Sales, Sales Discounts, Sales Returns, and Credit Card Sales...
Task 1 Reporting Net Sales with Credit Sales, Sales Discounts, Sales Returns, and Credit Card Sales E6-3 L02 The following transactions were selected from among those completed by Cadence Retailers in 2011: Nov. 20 Sold 20 items of merchandise to Customer B at an invoice price of $5,500 (total; terms 3/10, n/30 Sold two items of merchandise to Customer C, who charged the $400 sales price on her Visa credit card. Visa charges Cadence Retailersa 2 percent credit card fee...
anacions were selected from the records of OceanVlew Company July 12 Sold merchandise to Customer R,...
anacions were selected from the records of OceanVlew Company July 12 Sold merchandise to Customer R, who charged the $4,900 purchase on his Visa credit card. Visa charges OceanView a 2 percent credit card fee. 15 3/10, n.30. Sold merchandise to CustomerT at an invoice price of $5,600; terms 3/10, n/30 23 Collected payment from Customer S from July 15 sale. Required Assuming that Sales Discounts and Credit Card Discounts are treated as contra-revenues, compute net sales for the two...
" . LO 6-4 25 6 Reporting Net Sales with Credit Sales, Sales Discounts, and Sales...
" . LO 6-4 25 6 Reporting Net Sales with Credit Sales, Sales Discounts, and Sales Returns The following transactions were selected from among those completed by Bear's Retail Store: Nov. 20 Sold two items of merchandise to Cheryl Jahn, who paid the $400 sales price in cash. The goods cost Bear's $300. Sold 20 items of merchandise to Vasko Athletics at a selling price of $4,000 (total); terms 3/10, n/30. The goods cost Bear's $2,500. 28 Sold 10 identical...
Sales returns and allowances and sales discounts, are both contra revenue accounts with debit balances that...
Sales returns and allowances and sales discounts, are both contra revenue accounts with debit balances that are deducted from sales revenue to arrive at net sales and cost of goods could also be deducted from sales revenue, but sales revenue is not deducted from itself. All of the following appear as deductions from sales revenue on an income statement for merchandisers except Sales Revenue. O Sales Returns and Allowances. Cost of Goods Sold. Sales Discounts.
the following transactions were selected from the records of oceanview company: July Fichier Edition Présentation Historique...
the following transactions were selected from the records of
oceanview company: July
Fichier Edition Présentation Historique Signets Fenêtre Aide ezto.mheducation.com molc. Pro Networ.. OL-10FA-B. Google Docs Homework Should Ath. Fortinet Sec. The 'Stick on mework #4 Revised Instructions I help < Question 19 (of 20) Save & Ext Submit 5.00 points The following transactions were selected from the records of Ocean View Company July 12 Sold merchandise to Customer R. who charged the $4,400 purchase on his Visa credit card....
U . U Lauren Maragh M Homework Other Help Save & Exit Submit Check my work...
U . U Lauren Maragh M Homework Other Help Save & Exit Submit Check my work E6-2 (Algo) Reporting Net Sales with Credit Sales, Sales Discounts, and Credit Card Sales L06-1. The following transactions were selected from the records of OceanView Company July 12 Sold merchandise to Customer R, who charged the $4,800 purchase on his Visa credit card. Visa charges Oceanview a 2 percent credit card fee. 15 Sold merchandise to Customer sat an invoice price of $10,900; terms...
Griffin Shoe Company records Sales Returns and Allowances, Sales
Discounts, and Credit Card Discounts as contra-revenues.July12Sold merchandise to customer at factory store who charged the
$300 purchase on her American Express card. American Express
charges a 1 percent credit card fee. Cost of goods sold was
$175.July15Sold merchandise to Customer T at an invoice price of $5,000;
terms 3/10, n/30. Cost of goods sold was $2,500.July20Collected cash due from Customer T.July21Before paying for the order, a customer returned shoes with...
Griffin Shoe Company records Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts as contra-revenues. July 12 Sold merchandise to customer at factory store who charged the $700 purchase on her American Express card. American Express charges a 2 percent credit card fee. Cost of goods sold was $575. July 15 Sold merchandise to Customer T at an invoice price of $5,500; terna 2/10, n/30. Cost of goods sold was $2,750. July 20 collected cash due from Customer T....
Check my work E6-4 (Algo) Determining the Effects of Credit Sales, Sales Discounts, Credit Card Sales, and Sales Returns and Allowances on Income Statement Categories L06-1 Griffin Shoe Company records Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts as contra-revenues. July 12 Sold merchandise to customer at factory store who charged the $400 purchase on her American Express card. American Express charges a 3 percent credit card fee. Cost of goods sold was $275. July 15 Sold merchandise...
Task 1 Reporting Net Sales with Credit Sales, Sales Discounts, Sales Returns, and Credit Card Sales E6-3 L02 The following transactions were selected from among those completed by Cadence Retailers in 2011: Nov. 20 Sold 20 items of merchandise to Customer B at an invoice price of $5,500 (total; terms 3/10, n/30 Sold two items of merchandise to Customer C, who charged the $400 sales price on her Visa credit card. Visa charges Cadence Retailersa 2 percent credit card fee...
anacions were selected from the records of OceanVlew Company July 12 Sold merchandise to Customer R, who charged the $4,900 purchase on his Visa credit card. Visa charges OceanView a 2 percent credit card fee. 15 3/10, n.30. Sold merchandise to CustomerT at an invoice price of $5,600; terms 3/10, n/30 23 Collected payment from Customer S from July 15 sale. Required Assuming that Sales Discounts and Credit Card Discounts are treated as contra-revenues, compute net sales for the two...
" . LO 6-4 25 6 Reporting Net Sales with Credit Sales, Sales Discounts, and Sales Returns The following transactions were selected from among those completed by Bear's Retail Store: Nov. 20 Sold two items of merchandise to Cheryl Jahn, who paid the $400 sales price in cash. The goods cost Bear's $300. Sold 20 items of merchandise to Vasko Athletics at a selling price of $4,000 (total); terms 3/10, n/30. The goods cost Bear's $2,500. 28 Sold 10 identical...
Sales returns and allowances and sales discounts, are both contra revenue accounts with debit balances that are deducted from sales revenue to arrive at net sales and cost of goods could also be deducted from sales revenue, but sales revenue is not deducted from itself. All of the following appear as deductions from sales revenue on an income statement for merchandisers except Sales Revenue. O Sales Returns and Allowances. Cost of Goods Sold. Sales Discounts.
the following transactions were selected from the records of
oceanview company: July
Fichier Edition Présentation Historique Signets Fenêtre Aide ezto.mheducation.com molc. Pro Networ.. OL-10FA-B. Google Docs Homework Should Ath. Fortinet Sec. The 'Stick on mework #4 Revised Instructions I help < Question 19 (of 20) Save & Ext Submit 5.00 points The following transactions were selected from the records of Ocean View Company July 12 Sold merchandise to Customer R. who charged the $4,400 purchase on his Visa credit card....
U . U Lauren Maragh M Homework Other Help Save & Exit Submit Check my work E6-2 (Algo) Reporting Net Sales with Credit Sales, Sales Discounts, and Credit Card Sales L06-1. The following transactions were selected from the records of OceanView Company July 12 Sold merchandise to Customer R, who charged the $4,800 purchase on his Visa credit card. Visa charges Oceanview a 2 percent credit card fee. 15 Sold merchandise to Customer sat an invoice price of $10,900; terms...
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