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ate Transaction Merida Inc settled their account in full. The only outstanding invoice was one dated...
QUESTION 7 On March 18, James Smith purchased $5,000 of furniture from Home Furnishings on account....
QUESTION 7 On March 18, James Smith purchased $5,000 of furniture from Home Furnishings on account. The cost of the goods was $3.000. On March 20. Home Furnishings granted the customer a $1,000 sales allowance for goods damaged in transit. For Home Furnishings, which of the following represents the correct way to record this transaction? Sales Returns and Allowances 1.000 Cash 1.000 Sales Revenge 1.000 1.000 Refunds Payable 1.000 Cash 1.000 800 Merchandise Inventory Estimated Returns Inventory 600 1,000 Refunds...
Am I missing anything? Prepare journal entries to record the following merchandising transactions of Cabela's, which...
Am I missing anything?
Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual Inventory system and the gross method. Hint: It will help to identify each receivable and payable; for example, record the purchase on July 1 in Accounts Payable-Boden. July 1 Purchased merchandise from Roden Company for $6,000 under credit terns of 1/15, n/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $900 under credit terms of...
what did i do wrong? Prepare journal entries to record the following merchandising transactions of Cabela's,...
what did i do wrong?
Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method. Hint: it will help to identify each receivable and payable; for example, record the purchase on July 1 in Accounts Payable-Boden July 1 Purchased merchandise from Boden Company for $6,400 under credit terms of 2/15, 1/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $950 under credit terms...
Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory...
Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method. Hint: It will help to identify each receivable and payable; for example, record the purchase on July 1 in Accounts Payable-Boden. July 1 Purchased merchandise from Boden Company for $6, 200 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $950 under credit terms of 2/10, n/60, FOB...
Hello....I could really use some help on the 12 page Accounting Question. This is only 2...
Hello....I could really use some help on the 12 page Accounting
Question. This is only 2 parts of MANY. Please fill in the answers
in a table or some format that I, as a non-accounting major, will
understand. Thank you so much!
Accounting Cycle Review 7-01 a1-f2
Sunland Co. uses a perpetual inventory system and both an
accounts receivable and an accounts payable subsidiary ledger.
Balances related to both the general ledger and the subsidiary
ledger for Sunland are indicated...
18,000 ACR7.1 (Perpetual Method) Jeter Co. uses a perpetual inventory system and both an accounts receivable...
18,000 ACR7.1 (Perpetual Method) Jeter Co. uses a perpetual inventory system and both an accounts receivable and an accounts payable subsidiary ledger Balances related to both the general ledger and the subsidiary ledgers for Jeter are indicated in the working papers presented below. Also below are a series of transactions for Jeter Co. for the month of January, Credit sales terms are 2/10, n/30. The cost of all merchandise sold was 80% of the sales price. GENERAL LEDGER Account January...
ACR7 (Perpetual Method) Jeter Co. uses a perpetual inventory system and both an accounts receivable and...
ACR7 (Perpetual Method) Jeter Co. uses a perpetual inventory system and both an accounts receivable and an accounts payable subsidiary ledger Balances related to both the general ledger and the subsidiary ledgers for Jeter are indicated in the working papers presented below. Also below are a series of transactions for Jeter Co for the month of January Credit sales terms are 2/10, 1/30. The cost of all merchandise sold was 60% of the sales price GENERAL LEDGER Account January 1...
Post information from the journals in Part 2 to the general ledger and the accounts receivable...
Post information from the journals in Part
2 to the general ledger and the accounts receivable and accounts
payable subsidiary ledgers.
Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30). Mar. 1 Purchased $40,000 of merchandise from Van Industries, invoice dated March 1, terms 2/15, n/30. Sold merchandise on credit to Min Cho, Invoice No. 854, for $16,000 (cost is $8,000). 3 (a) Purchased $1,200 of office...
Answer the whole question, please. Wiset Company completes these transactions during April of the current year...
Answer the whole question, please.
Wiset Company completes these transactions during April of the
current year (the terms of all its credit sales are 2/10,
n/30).
Apr.
2
Purchased $15,100 of merchandise on credit from Noth Company,
invoice dated April 2, terms 2/10, n/60.
3
(a)
Sold merchandise on credit to Page Alistair, Invoice No. 760,
for $4,600 (cost is $3,500).
3
(b)
Purchased $1,550 of office supplies on credit from Custer, Inc.
Invoice dated April 2, terms n/10 EOM....
QUESTION 7 On March 18, James Smith purchased $5,000 of furniture from Home Furnishings on account. The cost of the goods was $3.000. On March 20. Home Furnishings granted the customer a $1,000 sales allowance for goods damaged in transit. For Home Furnishings, which of the following represents the correct way to record this transaction? Sales Returns and Allowances 1.000 Cash 1.000 Sales Revenge 1.000 1.000 Refunds Payable 1.000 Cash 1.000 800 Merchandise Inventory Estimated Returns Inventory 600 1,000 Refunds...
Am I missing anything?
Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual Inventory system and the gross method. Hint: It will help to identify each receivable and payable; for example, record the purchase on July 1 in Accounts Payable-Boden. July 1 Purchased merchandise from Roden Company for $6,000 under credit terns of 1/15, n/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $900 under credit terms of...
what did i do wrong?
Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method. Hint: it will help to identify each receivable and payable; for example, record the purchase on July 1 in Accounts Payable-Boden July 1 Purchased merchandise from Boden Company for $6,400 under credit terms of 2/15, 1/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $950 under credit terms...
Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method. Hint: It will help to identify each receivable and payable; for example, record the purchase on July 1 in Accounts Payable-Boden. July 1 Purchased merchandise from Boden Company for $6, 200 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $950 under credit terms of 2/10, n/60, FOB...
Hello....I could really use some help on the 12 page Accounting
Question. This is only 2 parts of MANY. Please fill in the answers
in a table or some format that I, as a non-accounting major, will
understand. Thank you so much!
Accounting Cycle Review 7-01 a1-f2
Sunland Co. uses a perpetual inventory system and both an
accounts receivable and an accounts payable subsidiary ledger.
Balances related to both the general ledger and the subsidiary
ledger for Sunland are indicated...
18,000 ACR7.1 (Perpetual Method) Jeter Co. uses a perpetual inventory system and both an accounts receivable and an accounts payable subsidiary ledger Balances related to both the general ledger and the subsidiary ledgers for Jeter are indicated in the working papers presented below. Also below are a series of transactions for Jeter Co. for the month of January, Credit sales terms are 2/10, n/30. The cost of all merchandise sold was 80% of the sales price. GENERAL LEDGER Account January...
ACR7 (Perpetual Method) Jeter Co. uses a perpetual inventory system and both an accounts receivable and an accounts payable subsidiary ledger Balances related to both the general ledger and the subsidiary ledgers for Jeter are indicated in the working papers presented below. Also below are a series of transactions for Jeter Co for the month of January Credit sales terms are 2/10, 1/30. The cost of all merchandise sold was 60% of the sales price GENERAL LEDGER Account January 1...
Post information from the journals in Part
2 to the general ledger and the accounts receivable and accounts
payable subsidiary ledgers.
Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30). Mar. 1 Purchased $40,000 of merchandise from Van Industries, invoice dated March 1, terms 2/15, n/30. Sold merchandise on credit to Min Cho, Invoice No. 854, for $16,000 (cost is $8,000). 3 (a) Purchased $1,200 of office...
Answer the whole question, please.
Wiset Company completes these transactions during April of the
current year (the terms of all its credit sales are 2/10,
n/30).
Apr.
2
Purchased $15,100 of merchandise on credit from Noth Company,
invoice dated April 2, terms 2/10, n/60.
3
(a)
Sold merchandise on credit to Page Alistair, Invoice No. 760,
for $4,600 (cost is $3,500).
3
(b)
Purchased $1,550 of office supplies on credit from Custer, Inc.
Invoice dated April 2, terms n/10 EOM....
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