Business, 19.07.2019 22:30 itzia00

Nov. 1 dollar store purchases merchandise for $1,600 on terms of 2/5, n/30, fob shipping point, invoice dated november 1. 5 dollar store pays cash for the november 1 purchase. 7 dollar store discovers and returns $100 of defective merchandise purchased on november 1, and paid for on november 5, for a cash refund. 10 dollar store pays $80 cash for transportation costs for the november 1 purchase. 13 dollar store sells merchandise for $1,728 with terms n/30. the cost of the merchandise is $864. 16 merchandise is returned to the dollar store from the november 13 transaction. the returned items are priced at $200 and cost $100; the items were not damaged and were returned to inventory. journalize the above merchandising transactions for the dollar store assuming it uses a perpetual inventory system and the gross method.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 23:30

Martha is the head of the accounts department in a small manufacturing company. the company follows the accrual-basis method of accounting. it recently purchased raw materials worth $5,000 from its vendors. however, the company paid only $3,000 to its vendors. it plans to pay the remaining amount after three months. considering this information, which entry should martha record in the company’s accounts? a. $5,000 as accounts receivable b. $3,000 as accounts payable c. $2,000 as accounts payable d. $2,000 as accounts receivable

Answers: 3

Answer

Business, 22.06.2019 06:30

Select all that apply. what do opponents of minimum wage believe are the results of minimum wage? increases personal income results in job shortages causes unemployment raises prices of goods

Answers: 1

Answer

Business, 22.06.2019 10:40

Why do you think the compensation plans differ at the two firms? in particular, why do you think kaufmann’s pays commissions to salespeople, while parkleigh does not? why does parkleigh offer employees discounts on purchases, while kaufmann’s does not?

Answers: 3

Answer

Business, 22.06.2019 19:00

The following are budgeted data: january february march sales in units 16,200 22,400 19,200 production in units 19,200 20,200 18,700 one pound of material is required for each finished unit. the inventory of materials at the end of each month should equal 20% of the following month's production needs. purchases of raw materials for february would be budgeted to be:

Answers: 3

Answer

You know the right answer?

Nov. 1 dollar store purchases merchandise for $1,600 on terms of 2/5, n/30, fob shipping point, invo...

Questions