a. Sampson Co. sold merchandise to Batson Co. on account, $25,500, terms 2/15, net 45. b....
Sampson Co. sold merchandise to Batson Co. on account, $27,600, terms 2/15, net 45. The cost of the goods sold is $20,700. The Batson Co. paid the invoice within the discount period. Assume both Sampson and Batson use a perpetual inventory system. If no entry is required, select "No entry required" and leave the amount boxes blank. Prepare the entries that Sampson Company would record for the information above. If an amount box does not require an entry, leave it...
a. Sampson Co. sold merchandise to Batson Co. on account, $29,900, terms 2/15, net 45. b. The cost of the merchandise sold is $22,425. c. Batson Co. paid the invoice within the discount period. Assume both Sampson and Batson use a perpetual inventory system. Prepare the entries that Sampson Co. would record for the information above. a. Accounts Payable-Batson Co. Sales b. Cost of Merchandise Sold Merchandise Inventory C Sales Accounts Receivable-Batson Co. Prepare the entries that Batson Co. would...
Sampson Co. sold merchandise to Batson Co. on account, $36,900, terms 2/15, net 45. The cost of the merchandise sold is $27,675. Batson Co. paid the invoice within the discount period. Assume both Sampson and Batson use a perpetual inventory system. Prepare the entries that Sampson Co. would record for the information above.
1. Journalize the following merchandise transactions: (a) Sold merchandise on account, $17,300, with terms 2/10, net 30. The cost of the merchandise sold was $12,600. (b) Received payment within the discount period. Mar. 3 2. Beginning inventory, purchases, and sales data for hammers are as follows: Inventory 12 units at $15 11 Purchase 13 units at $17 - 14 Sale 118 units Purchase 9 units at $20 Sale 10 units Assuming the business maintains a perpetual inventory system, complete the...
Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 19 units $12 11 Purchase 16 units @ $14 14 Sale 20 units 21 Purchase 14 units $20 25 Sale 16 units Complete the inventory cost card assuming the business maintains a perpetual inventory system and determine the cost of goods sold and ending inventory using LIFO. Purchases Cost of Goods Sold Unit Cost Inventory Qty. Unit Cost Total Cost Q ty. Total Cost Qty....
1. Journalize the following merchandise transactions: () Sold merchandise on account, $17,300, with terms 2/10, net 30. The cost of the merchandise sold was $12,600. (b) Received payment within the discount period. 2. Beginning inventory, purchases, and sales data for hammers are as follows: Mar. 3 Inventory 12 units at $15 11 Purchase 13 units at $17 14 Sale 18 units 21 Purchase 9 units at $20 25 Sale 10 units Assuming the business maintains a perpetual inventory system, complete...
1. Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 19 units @ $18 11 Purchase 15 units @ $14 14 Sale 25 units 21 Purchase 10 units @ $15 25 Sale 11 units Complete the inventory cost card assuming the business maintains a perpetual inventory system and determine the cost of goods sold and ending inventory using FIFO. Purchases Cost of Goods Sold Inventory Date Qty. Unit Cost Total Cost Qty. Unit Cost...
Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 19 units @ $14 11 Purchase 13 units @ $15 14 Sale 23 units 21 Purchase 11 units @ $17 25 Sale 12 units Complete the inventory cost card assuming the business maintains a perpetual inventory system and determine the cost of goods sold and ending inventory using FIFO. Purchases Cost of Goods Sold Inventory Date Qty. Unit Cost Total Cost Qty. Unit Cost Total...
Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 21 units @ $16 11 Purchase 12 units @ $19 14 Sale 16 units 21 Purchase 13 units @ $17 25 Sale 18 units Complete the inventory cost card assuming the business maintains a perpetual inventory system and determine the cost of goods sold and ending inventory using LIFO. Purchases Cost of Goods Sold Inventory Date Qty. Unit Cost Total Cost Qty. Unit Cost Total...
Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 20 units @ $12 11 Purchase 12 units @ $16 14 Sale 24 units 21 Purchase 9 units @ $22 25 Sale 13 units Complete the inventory cost card assuming the business maintains a perpetual inventory system and determine the cost of goods sold and ending inventory using FIFO. Purchases Cost of Goods Sold Inventory Date Qty. Unit Cost Total Cost Qty. Unit Cost Total...