Business, 24.06.2020 20:01 kennyg02

Prepare journal entries to record each of the following sales transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. Apr. 1 Sold merchandise for $4,000, with credit terms n/30; invoice dated April 1. The cost of the merchandise is $2,400. Apr. 4 The customer in the April 1 sale returned $480 of merchandise for full credit. The merchandise, which had cost $288, is returned to inventory. Apr. 8 Sold merchandise for $1,500, with credit terms of 1/10, n/30; invoice dated April 8. Cost of the merchandise is $1,050. Apr. 11 Received payment for the amount due from the April 1 sale less the return on April 4.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 06:00

List three careers that require knowledge of science. list three careers that require the use of of math. list three careers that require the use of foreign language. list three careers that require the use of good writing skills. list three careers that require the use of good computer skills.

Answers: 3

Answer

Business, 22.06.2019 10:30

Perez, inc., applies the equity method for its 25 percent investment in senior, inc. during 2018, perez sold goods with a 40 percent gross profit to senior, which sold all of these goods in 2018. how should perez report the effect of the intra-entity sale on its 2018 income statement?

Answers: 2

Answer

Business, 22.06.2019 11:40

On january 1, 2017, sophie's sunlounge owned 4 tanning beds valued at $20,000. during 2017, sophie's bought 3 new beds at a total cost of $14 comma 000, and at the end of the year the market value of all of sophie's beds was $24 comma 000. what was sophie's net investment

Answers: 3

Answer

Business, 22.06.2019 15:00

Beagle autos is known for its affordable and reliable brand of consumer vehicles. because its shareholders expect to see an improved rate of growth in the coming years, beagle's executives have decided to diversify the company's range of products so that at least 40 percent of the firm's revenue is generated by new business units. however, the company's resources, capabilities, and competencies are limited to producing other forms of motorized vehicles, such as motorcycles and all-terrain vehicles (atvs). which type of corporate diversification strategy should beagle pursue?

Answers: 1

Answer

You know the right answer?

Prepare journal entries to record each of the following sales transactions of a merchandising compan...

Questions