Answer 1 | |||||
Event | Inventory | Net Sales | Cost of goods sold | Gross Profit | |
a | $0.00 | $0.00 | $0.00 | $0.00 | |
b | $7,200.00 | $0.00 | $0.00 | $0.00 | |
c | -$2,400.00 | $0.00 | $0.00 | $0.00 | |
d | $0.00 | -$100.00 | $0.00 | $100.00 | |
e | $0.00 | -$94.00 | $0.00 | $94.00 | |
f | $0.00 | $0.00 | $0.00 | $0.00 | |
g | -$6,400.00 | $10,880.00 | $6,400.00 | $4,480.00 | |
h | $0.00 | $0.00 | $0.00 | $0.00 | |
i | $3,200.00 | -$5,440.00 | -$3,200.00 | -$2,240.00 | |
j | -$1,600.00 | -$1,600.00 | |||
k | $0.00 | $0.00 | $0.00 | $0.00 | |
Required information The following information applies to the questions displayed below] a On October 1, the...
[The following information applies to the questions displayed below.] On October 1, the Business Students’ Society (BSS) placed an order for 150 golf shirts at a unit cost of $30, under terms 2/10, n/30. The order was received on October 10, but some golf shirts differed from what had been ordered. Uncertain whether the shirts would be returned or kept, BSS decided to record any purchase discount only when taken (using the gross method). On October 11, 50 golf shirts...
Part 3 of 4 nim 0.75 points Required information (The following information applies to the questions displayed below.) 1. On October 1, the Business Students' Society (BSS) placed an order for 150 golf shirts at a unit cost of $16, under terms 2/10. 2. The order was received on October 10, but 30 golf shirts had been damaged in shipment. On October 11, the damaged golf shirts were returned. On October 12, BSS complained that the remaining golf shirts were...
Required information Part 1 of 4 2. 0.75 points [The following information applies to the questions displayed below.) 1. On October 1, the Business Students' Society (BSS) placed an order for 150 golf shirts at a unit cost of $16, under terms 2/10. The order was received on October 10, but 30 golf shirts had been damaged in shipment. On October 11, the damaged golf shirts were returned. On October 12, BSS complained that the remaining golf shirts were slightly...
Part 4 of 4 0.75 points Required Information [The following information applies to the questions displayed below) 1 On October 1, the Business Students' Society (BSS) placed an order for 150 golf shirts at a unit cost of $16, under terms 240. 2 The order was received on October 10, but 30 golf shirts had been damaged in shipment. 3. On October 11, the damaged golf shirts were returned. 4. On October 12, BSS complained that the remaining golf shirts...
On October 1, BSS placed an order for 160 golf shirts at a unit cost of $18, under terms 2/10, n/30. Record the place of the order for golf shirts. 2. The order placed on October 1 was received by BSS on October 10, but 30 golf shirts had been damaged in shipment. Record the inventory purchased on account. 3. On October 11, the 30 damaged golf shirts were returned. Record the return of the damaged inventory. 4. On October...
Part 2 of 4 On October 1, the Business Students' Society (BSS) placed an order for 150 golf shirts at a unit cost of $16, under terms 2/10. The order was received on October 10, but 30 golf shirts had been damaged in shipment. On October 11, the damaged golf shirts were returned. On October 12, BSS complained that the remaining golf shirts were slightly defective so the supplier granted a GL $120 allowance. 5. BSS paid for the golf...
Please also tell me how did you get the answers. Thank you a. On October 1, the Business Students' Society (BSS) placed an order for 100 golf shirts at a unit cost of $20, under terms 2/10, n/30. b. The order was received on October 10, but some golf shirts differed from what had been ordered. Uncertain whether the shirts would be returned or kept, BSS decided to record any purchase discount only when taken (using the gross method). c....
Required Information [The following information applies to the questions displayed below.) Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $63,200 a. Sold merchandise for cash (cost of merchandise $34,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $450 ). c. Sold merchandise (costing $6,175 ) to a customer on account with terms...
Return Required Information (The following information applies to the questions displayed below.) The transactions listed below are typical of those involving New Books Inc. and Readers' Corner. New Books is a wholesale merchandiser and Readers' Corner is a retail merchandiser. Assume all sales of merchandise from New Books to Readers' Corner are made with terms n/30, and the two companies use perpetual inventory systems. Assume the following transactions between the two companies occurred in the order listed during the year...
! 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...