![nate: Date: Class: TIL Accounting] 13. Journalize the following transactions assuming a perpetual inventory system: Purchased](http://img.homeworklib.com/questions/016dc050-7541-11ea-bbad-2ba48e3d1426.png?x-oss-process=image/resize,w_560)
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 | ||||||
Add Answer to:
IS THIS CORRECT I DONT THINK IT IS HELP ASAP
nate: Date: Class: TIL Accounting] 13....
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.
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
DO YOU ADD OR SUBTRACT OR NEITHER 6000 and 100???? help asap Name: Date: Class: Unit...
DO YOU ADD OR SUBTRACT OR NEITHER 6000 and 100???? help
asap
Name: Date: Class: Unit III Accounting I 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,...
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,...
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...
Handout 5: Accounting for merchandising operations Exercise 1: 1. In May 7 Ali Co. purchase goods...
Handout 5: Accounting for merchandising operations Exercise 1: 1. In May 7 Ali Co. purchase goods FOB shipping point from Ahmed Co, for $5000 on account under credit terms 2/10, n/30, 2. in May 7, Ali Co. paid cash $150 as freight expenses FOB shipping point 3. May 12 Ali Co. returns goods purchased in May 7 to Ahmed Co. for $300 4. in May 15, Ali Co. paid the balance due within the discount period Instructions: Prepare Journal entries...
I need help preparing a journal entry for the merchandising transactions of Calebas. Also I need...
I need help preparing a journal entry for the
merchandising transactions of Calebas. Also I need help
understanding how to calculate the answer for problems like number
12 because I keep getting it wrong.
journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory gross method. (Hint: It will help to identify each receivable and payable: for example, record the purchase on July 1 in Accounts system an Payable-Boden.) July 1 Purchased nerchand ise from...
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.
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
DO YOU ADD OR SUBTRACT OR NEITHER 6000 and 100???? help
asap
Name: Date: Class: Unit III Accounting I 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,...
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,...
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...
Handout 5: Accounting for merchandising operations Exercise 1: 1. In May 7 Ali Co. purchase goods FOB shipping point from Ahmed Co, for $5000 on account under credit terms 2/10, n/30, 2. in May 7, Ali Co. paid cash $150 as freight expenses FOB shipping point 3. May 12 Ali Co. returns goods purchased in May 7 to Ahmed Co. for $300 4. in May 15, Ali Co. paid the balance due within the discount period Instructions: Prepare Journal entries...
I need help preparing a journal entry for the
merchandising transactions of Calebas. Also I need help
understanding how to calculate the answer for problems like number
12 because I keep getting it wrong.
journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory gross method. (Hint: It will help to identify each receivable and payable: for example, record the purchase on July 1 in Accounts system an Payable-Boden.) July 1 Purchased nerchand ise from...
Most questions answered within 3 hours.
-
Use the following set of observed frequencies to test the
independence of the two variables. Variable...
asked 19 minutes ago -
Two kg of ice at -15 °C are placed in a 2 kg bath of water...
asked 19 minutes ago -
Describe the following with suitable
examples.
1- Security Policy Heterogeneity
2-Security Model Heterogeneity
3-Security Mechanism Heterogeneity...
asked 20 minutes ago -
Please Identify the Term "Determinism" in Psychology
asked 18 minutes ago -
The table below represents the number of republicans, democrats
and independent voting on a specific issue....
asked 24 minutes ago -
List and compare different forms of passive transport and active
transport.
asked 31 minutes ago -
In Netherland Dwarf rabbits, dwarf size is determined by allele
N, and normal-size by allele n....
asked 38 minutes ago -
During Heaton Company’s first two years of operations, it
reported absorption costing net operating income as...
asked 52 minutes ago -
Consider testing the
hypotheses:
H0: p = 0.56
H1: p > 0.56
where p is
the...
asked 55 minutes ago -
In a two-factor analysis of variance a main effect is defined as
____.
a. the unique...
asked 1 hour ago -
A bank's loan officer rates applicants for credit. The ratings
are normally distributed with a mean...
asked 1 hour ago -
Fill in the following information for Adipic Acid: molecular
weight, g or ml, mole, melting point,...
asked 1 hour ago