Homework Answers
| Gross purchases | 12700 |
| (-) Purchase return | 2200 |
| Net purchases | 10500 |
| Payment for purchases = Net purchases * ( 1 - Discount % ) = 10500 * ( 1 - 4% ) | 10080 |
| Cash collected from sales | 19400 |
| (-) Payment for purchases | 10080 |
| Net cash flow from operating activities | 9320 |
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est 2 0 Help Save & Exit Submit The following information applies to the questions displayed...
Saved The following information applies to the questions displayed below. Darlington Company entered into the following...
Saved The following information applies to the questions displayed below. Darlington Company entered into the following business events during its first month of operations. The company uses the perpetual inventory system. 1) The company purchased $12.500 of merchandise on account under terms 3/10, n/30. 2) The company returned $2,000 of merchandise to the supplier before payment was made. 3) The liability was paid within the discount period, 4) All of the merchandise purchased was sold for $19,000 cash. 7.03 What...
Submit 29 Help Save & Exit Required information The following information applies to the questions displayed...
Submit 29 Help Save & Exit Required information The following information applies to the questions displayed below.) On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,660 in assets to launch the business. On October 31, the company's records show the following items and amounts Part 2 of 3 Cash Accounts receivable office supplies Land Office equipment Accounts payable Owner investments $12.640 13,720 2,990 45,940 17,710 8,230 83,660 Cash withdrawals by owner Consulting revenue Rent...
Test 2 Help Darlington Company entered into the following business the perpetual inventory system. during its...
Test 2 Help Darlington Company entered into the following business the perpetual inventory system. during its first month of operations. The company uses 1) The company purchased $12,700 of merchandise on account under terms 4/10,n/30. 2) The company returned $2,200 of merchandise to the supplier before payment was made. 3) The liability was paid within the discount period. 4) All of the merchandise purchased was sold for $19,400 cash. Part 2 of 2 points What is the gross margin that...
Help Save & Exit Submit Required information [The following information applies to the questions displayed below.]...
Help Save & Exit Submit Required information [The following information applies to the questions displayed below.] Hart Company made 4,400 bookshelves using 34,000 board feet of wood costing $387600. The company's direct materials standards for one bookshelf are 8 board feet of wood at $11.30 per board foot (1) Compute the direct materials price and quantity variances incurred in manufacturing these bookshelves. AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price 5tandard Cost Actual Cost AQ SP...
of 2 Required information [The following information applies to the questions displayed below) At the beginning...
of 2 Required information [The following information applies to the questions displayed below) At the beginning of Year 2. the Redd Company had the following balances in its accounts: Cash Inventory Common stock Retained earnings 58,400 2,400 7,900 2,900 nces During Year 2. the company experienced the Sllowing events: 1. Purchased inventory that cost $5,900 on account from Ross Company under terms 2/10,n/30. The merchandise was delivered FOB shipping point. Transportation costs of $540 were paid in cash. 2. Returned...
The following information applies to the questions displayed below.] The following is the post-closing trial balance...
The following information applies to the questions displayed below.] The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2017. Account Title Debits Credits Cash 4,200 Accounts receivable 1,200 Inventory 4,200 Equipment 10,200 Accumulated depreciation—equipment 2,700 Accounts payable 2,200 Common stock 10,000 Retained earnings 4,900 Sales revenue 0 Cost of goods sold 0 Salaries and wages expense 0 Rent expense 0 Advertising expense 0 Totals 19,800 19,800 The following transactions occurred during January 2018:...
Required Information The following Information applies to the questions displayed below At the beginning of Year...
Required Information The following Information applies to the questions displayed below At the beginning of Year 2, the Redd Company had the folloing balances In Its accounts: s 6,989 15,889 7,889 15,690 13,999 Cash Land Conmoni stock Retained earnings During Year 2, the company experienced the following events: 1. Purchased Inventory that cost $5,200 on account from Ross Company under terms 110, n 30. The merchandise was dellvered FOB shipping point. Frelght costs of $190 were pald In cash. 2...
The following information applies to the questions displayed below.] At the beginning of 2018, the Redd...
The following information applies to the questions displayed below.] At the beginning of 2018, the Redd Company had the following balances in its accounts: Cash $ 8,800 Inventory 2,800 Common stock 8,300 Retained earnings 3,300 During 2018, the company experienced the following events: Purchased inventory that cost $6,300 on account from Ross Company under terms 2/10, n/30. The merchandise was delivered FOB shipping point. Freight costs of $580 were paid in cash. Returned $400 of the inventory that...
Saved Help Save& Exit Submit Check my work The following information applies to the questions displayed...
Saved Help Save& Exit Submit Check my work The following information applies to the questions displayed below. Pirates Incorporated had the following balances at the beginning of September PIRATES INCORPORATED Trial Balance September 1 Accounts Cash Accounts Receivable Supplies Land Accounts Payable Notes Payable Common Stock Retained Earnings Debits Credits $5,700 1,700 6,800 10,400 6,700 2,200 8,200 7.500 924.600 $24,600 Totals The following transactions occur in September Septenber 1 Provide services to customers for cash, $3,900 September 2 urchase land...
! of 3 Required information [The following information applies to the questions displayed below.) The beginning...
! of 3 Required information [The following information applies to the questions displayed below.) The beginning account balances for Terry's Auto Shop as of January 1, Year 2, follow. Account Titles Beginning Balances Inventory 3,190 7,490 Retained Earnings 1,710 Cash $6,010 Common Stock The following events affected the company during the Year 2 accounting period eBook Print 1. Purchased merchandise on account that cost $4,100 2. The goods in Event 1 were purchased FOB shipping point with freight cost of...
Saved The following information applies to the questions displayed below. Darlington Company entered into the following business events during its first month of operations. The company uses the perpetual inventory system. 1) The company purchased $12.500 of merchandise on account under terms 3/10, n/30. 2) The company returned $2,000 of merchandise to the supplier before payment was made. 3) The liability was paid within the discount period, 4) All of the merchandise purchased was sold for $19,000 cash. 7.03 What...
Submit 29 Help Save & Exit Required information The following information applies to the questions displayed below.) On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,660 in assets to launch the business. On October 31, the company's records show the following items and amounts Part 2 of 3 Cash Accounts receivable office supplies Land Office equipment Accounts payable Owner investments $12.640 13,720 2,990 45,940 17,710 8,230 83,660 Cash withdrawals by owner Consulting revenue Rent...
Test 2 Help Darlington Company entered into the following business the perpetual inventory system. during its first month of operations. The company uses 1) The company purchased $12,700 of merchandise on account under terms 4/10,n/30. 2) The company returned $2,200 of merchandise to the supplier before payment was made. 3) The liability was paid within the discount period. 4) All of the merchandise purchased was sold for $19,400 cash. Part 2 of 2 points What is the gross margin that...
Help Save & Exit Submit Required information [The following information applies to the questions displayed below.] Hart Company made 4,400 bookshelves using 34,000 board feet of wood costing $387600. The company's direct materials standards for one bookshelf are 8 board feet of wood at $11.30 per board foot (1) Compute the direct materials price and quantity variances incurred in manufacturing these bookshelves. AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price 5tandard Cost Actual Cost AQ SP...
of 2 Required information [The following information applies to the questions displayed below) At the beginning of Year 2. the Redd Company had the following balances in its accounts: Cash Inventory Common stock Retained earnings 58,400 2,400 7,900 2,900 nces During Year 2. the company experienced the Sllowing events: 1. Purchased inventory that cost $5,900 on account from Ross Company under terms 2/10,n/30. The merchandise was delivered FOB shipping point. Transportation costs of $540 were paid in cash. 2. Returned...
Required Information The following Information applies to the questions displayed below At the beginning of Year 2, the Redd Company had the folloing balances In Its accounts: s 6,989 15,889 7,889 15,690 13,999 Cash Land Conmoni stock Retained earnings During Year 2, the company experienced the following events: 1. Purchased Inventory that cost $5,200 on account from Ross Company under terms 110, n 30. The merchandise was dellvered FOB shipping point. Frelght costs of $190 were pald In cash. 2...
Saved Help Save& Exit Submit Check my work The following information applies to the questions displayed below. Pirates Incorporated had the following balances at the beginning of September PIRATES INCORPORATED Trial Balance September 1 Accounts Cash Accounts Receivable Supplies Land Accounts Payable Notes Payable Common Stock Retained Earnings Debits Credits $5,700 1,700 6,800 10,400 6,700 2,200 8,200 7.500 924.600 $24,600 Totals The following transactions occur in September Septenber 1 Provide services to customers for cash, $3,900 September 2 urchase land...
! of 3 Required information [The following information applies to the questions displayed below.) The beginning account balances for Terry's Auto Shop as of January 1, Year 2, follow. Account Titles Beginning Balances Inventory 3,190 7,490 Retained Earnings 1,710 Cash $6,010 Common Stock The following events affected the company during the Year 2 accounting period eBook Print 1. Purchased merchandise on account that cost $4,100 2. The goods in Event 1 were purchased FOB shipping point with freight cost of...
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