Homework Answers
| Accounts | Debit | Credit |
| Accounts Receivables | 29000 | |
| Sales Revenue | 28670 | |
| Service Revenue | 330 | |
| Cost of goods sold | 15830 | |
| Merchandise Inventory | 15830 |
Option A. is correct answer.
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Fleet Automobiles sold an automobile for $29,000 on account. The cost of the automobile was $15,830....
help UL. J HUSS Wilson Automobiles sold an automobile for $25,000 on account. The cost of...
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UL. J HUSS Wilson Automobiles sold an automobile for $25,000 on account. The cost of the automobile was $14.420. The sale of the automobile came with one year of tree oil changes valued at $380. What would be the journal entry to record the sale? Date Accounts Debit Credit 25.380 Accounts Receivable Sales Revenue Uneared Revenue Cost of Goods Sold Merchandise Inventory 25,000 380 14.420 14.420 Ов 25,000 25,000 Accounts Receivable Sales Revenue Cast of Goods Sold Merchandise Inventory...
Merchandise with a sales price of $4,300 is sold on account with terms 2/10, n/30. The...
Merchandise with a sales price of $4,300 is sold on account with terms 2/10, n/30. The journal entry to record the sale would include a Oa. debit to Sales Discounts for $86 Ob. debit to Accounts Receivable for $4,194 Oc. debit to Cash for $4,300 Od. credit to Sales for $4,214 ; the second one is to close There are two closing entries. The first one is to close Oa. revenues, expenses Ob. revenues, expenses and the drawing account Oc....
Forever Jewelers uses the perpetual inventory system. On April 2. Forever sold merchandise with a cost...
Forever Jewelers uses the perpetual inventory system. On April 2. Forever sold merchandise with a cost of $4,500 for $7,000 to a customer on account with terms of 1/15, 30 Which of the following journal entries correctly records the sales revenue? 6.930 6.930 4.500 4,500 OA Sales Revenue Accounts Receivable OB. Accounts Receivable Sales Revenue O C. Accounts Receivable Sales Revenue OD. Sales Revenue Cost of Goods Sold 6,930 6,930
Landon Jewelers uses the perpetual inventory system. On April 2. Landon sold merchandise with a cost...
Landon Jewelers uses the perpetual inventory system. On April 2. Landon sold merchandise with a cost of $1.500 for 50,000 to a customer on account with forms of $15.30. The Journal entry to record the cost of goods sold would be: 1,500 1,500 1,500 1,500 O A. Sales Revenue Cost of Goods Sold OB. Cost of Goods Sold Accounts Receivable OC. Merchandise Inventory Cost of Goods Sold OD. Cost of Goods Sold Merchandise Inventory 1,500 1,500 1,500 1,500
A company that uses the perpetual inventory system sold goods to a customer for cash for...
A company that uses the perpetual inventory system sold goods to a customer for cash for $4.500 The cost of the goods sold was $1.000 Which of the wong journal entre correctly records this transaction? 4.600 4600 4.600 4.600 1,000 OA Merchandise Inventory Sales Revenue OB Accounts Receivable Cash Cost of Goods Sold Merchandise Inventory O c. Cash Sales Revenue Cost of Goods Sold Merchandise Inventory OD. Cost of Goods Sold Sales Revenue 1,000 4,600 1,000 4,600 1,000 4,600
Forever uses the p a rty system OA Sales Revenue Cost of Goods Sold Sales Revenue...
Forever uses the p a rty system OA Sales Revenue Cost of Goods Sold Sales Revenue OC. Sales Revenue Account Rece ODA Sales Revenge Refer to the following trial balance Credit Accounts Receivable Merchandise Inventory Supplies Debit $15.000 41000 61.000 18.000 330,000 Accounts Payable Notes Payable Common Stock Retained Earnings Dividends 315.000 22.000 3.000 3.000 A3245.000 OB. 599.000 C5107 000 OD S102.000 Cick to select your answer 25,000 315.000 22,000 3,000 455.000 Notes Payable Common Stock Retained Earnings Dividends Sales...
16-20 Weston Jewellers uses the perpetual inventory system. On April 2. Weston sold merchandise with a...
16-20
Weston Jewellers uses the perpetual inventory system. On April 2. Weston sold merchandise with a cost of 407 314,152 for delivery of the merchandise. Calculate the amount of net sales revenue Round any intermediary G ions and your fa 4/15.30 Westonad 150 custom count with the t hers ) O A 514.902 OR $8,487 OC. 514.258 OD. $14,652 ance is $35.000. Which of the following ould be included in the . The Merchandise inventory account balance is $80,000. A...
When merchandise is sold for cash, two entries are recorded. The second entry, to record the...
When merchandise is sold for cash, two entries are recorded. The second entry, to record the cost of merchandise sold, is OA) debit Cost of Goods Sold; credit Inventory OB) debit Inventory; credit Cost of Goods Sold C) debit Cost of Goods Sold; credit Sales OD) debit Accounts Receivable; credit Inventory
6 Question 3 (10 points) Smithville Furniture sold 15 desks, with a cost of $7500, for...
6 Question 3 (10 points) Smithville Furniture sold 15 desks, with a cost of $7500, for $11,250 on account. Smithville uses the periodic inventory system. Which of the following is the correct way to record this transaction? 9 Accounts OA) Debit Credit Accounts Receivable 11,250 Sales Revenue 11,250 Cost of Goods Sold 7500 Merchandise Inventory 7500 B) Accounts Debit Credit Accounts Receivable 11,250 Sales Revenue 11,250 Purchases 7500 Merchandise Inventory 7500 OC) Accounts Debit Credit Accounts Receivable 11.250 Sales Revenue...
Forever Jewelers uses the perpetual inventory system. On April 2, Forever sold merchandise with a cost...
Forever Jewelers uses the perpetual inventory system. On April 2, Forever sold merchandise with a cost of $2,500 for $7,000 to a customer on account with terms of 4/15, n/30. Which of the following journal entries correctly records the sales revenue? 6,720 6,720 6,720 O A. Sales Revenue Accounts Receivable OB. Accounts Receivable Sales Revenue O C. Sales Revenue Cost of Goods Sold 6,720 6,720 6,720 2,500 OD. Accounts Receivable Sales Revenue 2,500
help
UL. J HUSS Wilson Automobiles sold an automobile for $25,000 on account. The cost of the automobile was $14.420. The sale of the automobile came with one year of tree oil changes valued at $380. What would be the journal entry to record the sale? Date Accounts Debit Credit 25.380 Accounts Receivable Sales Revenue Uneared Revenue Cost of Goods Sold Merchandise Inventory 25,000 380 14.420 14.420 Ов 25,000 25,000 Accounts Receivable Sales Revenue Cast of Goods Sold Merchandise Inventory...
Merchandise with a sales price of $4,300 is sold on account with terms 2/10, n/30. The journal entry to record the sale would include a Oa. debit to Sales Discounts for $86 Ob. debit to Accounts Receivable for $4,194 Oc. debit to Cash for $4,300 Od. credit to Sales for $4,214 ; the second one is to close There are two closing entries. The first one is to close Oa. revenues, expenses Ob. revenues, expenses and the drawing account Oc....
Forever Jewelers uses the perpetual inventory system. On April 2. Forever sold merchandise with a cost of $4,500 for $7,000 to a customer on account with terms of 1/15, 30 Which of the following journal entries correctly records the sales revenue? 6.930 6.930 4.500 4,500 OA Sales Revenue Accounts Receivable OB. Accounts Receivable Sales Revenue O C. Accounts Receivable Sales Revenue OD. Sales Revenue Cost of Goods Sold 6,930 6,930
Landon Jewelers uses the perpetual inventory system. On April 2. Landon sold merchandise with a cost of $1.500 for 50,000 to a customer on account with forms of $15.30. The Journal entry to record the cost of goods sold would be: 1,500 1,500 1,500 1,500 O A. Sales Revenue Cost of Goods Sold OB. Cost of Goods Sold Accounts Receivable OC. Merchandise Inventory Cost of Goods Sold OD. Cost of Goods Sold Merchandise Inventory 1,500 1,500 1,500 1,500
A company that uses the perpetual inventory system sold goods to a customer for cash for $4.500 The cost of the goods sold was $1.000 Which of the wong journal entre correctly records this transaction? 4.600 4600 4.600 4.600 1,000 OA Merchandise Inventory Sales Revenue OB Accounts Receivable Cash Cost of Goods Sold Merchandise Inventory O c. Cash Sales Revenue Cost of Goods Sold Merchandise Inventory OD. Cost of Goods Sold Sales Revenue 1,000 4,600 1,000 4,600 1,000 4,600
Forever uses the p a rty system OA Sales Revenue Cost of Goods Sold Sales Revenue OC. Sales Revenue Account Rece ODA Sales Revenge Refer to the following trial balance Credit Accounts Receivable Merchandise Inventory Supplies Debit $15.000 41000 61.000 18.000 330,000 Accounts Payable Notes Payable Common Stock Retained Earnings Dividends 315.000 22.000 3.000 3.000 A3245.000 OB. 599.000 C5107 000 OD S102.000 Cick to select your answer 25,000 315.000 22,000 3,000 455.000 Notes Payable Common Stock Retained Earnings Dividends Sales...
16-20
Weston Jewellers uses the perpetual inventory system. On April 2. Weston sold merchandise with a cost of 407 314,152 for delivery of the merchandise. Calculate the amount of net sales revenue Round any intermediary G ions and your fa 4/15.30 Westonad 150 custom count with the t hers ) O A 514.902 OR $8,487 OC. 514.258 OD. $14,652 ance is $35.000. Which of the following ould be included in the . The Merchandise inventory account balance is $80,000. A...
When merchandise is sold for cash, two entries are recorded. The second entry, to record the cost of merchandise sold, is OA) debit Cost of Goods Sold; credit Inventory OB) debit Inventory; credit Cost of Goods Sold C) debit Cost of Goods Sold; credit Sales OD) debit Accounts Receivable; credit Inventory
6 Question 3 (10 points) Smithville Furniture sold 15 desks, with a cost of $7500, for $11,250 on account. Smithville uses the periodic inventory system. Which of the following is the correct way to record this transaction? 9 Accounts OA) Debit Credit Accounts Receivable 11,250 Sales Revenue 11,250 Cost of Goods Sold 7500 Merchandise Inventory 7500 B) Accounts Debit Credit Accounts Receivable 11,250 Sales Revenue 11,250 Purchases 7500 Merchandise Inventory 7500 OC) Accounts Debit Credit Accounts Receivable 11.250 Sales Revenue...
Forever Jewelers uses the perpetual inventory system. On April 2, Forever sold merchandise with a cost of $2,500 for $7,000 to a customer on account with terms of 4/15, n/30. Which of the following journal entries correctly records the sales revenue? 6,720 6,720 6,720 O A. Sales Revenue Accounts Receivable OB. Accounts Receivable Sales Revenue O C. Sales Revenue Cost of Goods Sold 6,720 6,720 6,720 2,500 OD. Accounts Receivable Sales Revenue 2,500
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