Question

Accounting questions

A) Cash os coating 53.000 or 55.000 with Using perpetual inventory, the entry to record a credit sale of S5000 Sales Revenue Inventory Cost of Goods Sold S3,000 B) Cash Service Revenue C) Accounts Receivable S5,000 $3.000 $5,000 $3.000 $3,000 D) Service Revenue S5,000 Accounts Receivable S5,000 Sales Revenue Cost of Goods Sold S3,000 Inventory $3,000 $5,000 29. Waggy Company identi Indicate whether each item should each item should be included or excluded from the inventory taking ems for possible inclusion in the physical inventory- 1. Goods shipped on consignment by Waggy to another company - 2. Goods in transit from a supplier shipped FOB destination. 3. Goods shipped via FedEx to a customer with terms FOB shipping point 4. Goods held on consignment from another company. 5. Good in transit from a supplier shipped FOB shipping point. on 30. Match the items below by entering the appropriate code letter in the space provided. The letters w used once. A. B. C. Net Sales Sales discounts Purchase invoice D. Periodic inventory system E. FOB destination F. FOB shipping point G. Freight out H. Gross profit inimii noroo An incentive to encourage customers to pay their accounts early. Freight terms that require the buyer to pay the freight cost. Freight terms that require the seller to pay the freight cost. Sales less sales returns and allowances and sales discounts. A document that supports each credit purchase. Net sales less cost of goods sold. Freight cost paid by seller to deliver goods to customers; a selling expense. Requires a physical inventory count to compute cost of goods sold. Version 2 Page 5