On may 1 anders company purchased merchandise
WebTEST 4-6 TEAM 4 QUESTIONS ANSWERS CHAPTER 4 121) On May 1, Anders Company purchased merchandise in the amount of $5,800 from Shilling, with credit terms of 2/10, n/30. Anders uses the perpetual inventory system and the gross method. The journal entry that Anders will make on May 1 is: A) ... WebVIDEO ANSWER: Okay, okay. We're going to look at the business that uses the perpetual inventory system. The company bought 4,000 dollars worth of stuff. 150 freight and 100 freight were paid by this company to get the goods. All of the purchases were
On may 1 anders company purchased merchandise
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WebQuestion 1 Answer a. Cost of units available for sale for July 1,452, Purchases for July (1,042,100) Cost of inventory – July 1 410, 325. … WebA company's gross profit (or gross margin) was $84,000 and its net sales were $350,000. Its gross margin ratio is: Debit Merchandise Inventory $9,750; credit Accounts Payable …
WebAccounting questions and answers. TB MC Qu. 04-111 (Static) On May 1, Anderson Company purchased... 17 On May 1 Anderson Company purchased merchandise in the amount of $5800 from Shilling, with credit term of 2/10,n/30 Anderson uses the perpetual inventory system and the gross method. The journal entry that Anderson will make on … WebOn May 1, Anders Company purchased merchandise in the amount of $5,800 from Shilling, with credit terms of 2/10, n/30. Anders uses the perpetual inventory system and …
Webc. $400. d. $370. Winsor Co. records purchases at net amounts. On May 5 Winsor purchased merchandise on account, $20,000, terms 2/10, n/30. Winsor returned $1,500 of the May 5 purchase and received credit on account. At … WebQuestion: 3. On May 1, Anders Company purchased merchandise in the amount of $5,800 from Shilling, with credit terms of 2/10, 1/30. Anders uses the perpetual inventory …
Web13 de nov. de 2024 · Answer by Guest. DR Inventory $5,800 CR Cash $5,800. In this context it is assumed that Anders company used credit instead of full immediate …
WebStudy with Quizlet and memorize flashcards containing terms like If a company failed to make the end-of-period adjustment to move the amount of management fees that were … flags at half mast washington stateWebAccounting questions and answers. On May 1 Anders Company purchased merchandise in the amount of $5,800 from Shilling, with credit terms of 2/10 n/30. And system and the … canon farbdrucker tr4650Web18 de ago. de 2024 · Prepare journal entries to record the following merchandising transactions of Lowe’s, which uses the perpetual inventory system and the gross method. (Hint: It will help to identify each receivable and payable; for example, record the purchase on August 1 in Accounts Payable—Aron.) Aug. 1 Purchased merchandise from Aron … canon fax l120 driver windows 10WebA company reports net sales of $600,000, cost of goods sold of $200,000, and net income of $100,000. Its gross profit equals: $400,000. Net Sales- Cost of goods sold= gross … flags at half mast virginiaWebAccounting questions and answers. TB MC Qu. 04-111 (Static) On May 1, Anderson Company purchased... 17 On May 1 Anderson Company purchased merchandise in … canon fax over ipWebStudy with Quizlet and memorize flashcards containing terms like A company purchased 1800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned 200 worth of … canon fast autofocus camerasWeb25 de set. de 2024 · Amount of merchandise purchased = $5,800. Credit terms = 2/10 and n/10. Using a perpetual system and gross method, Therefore, the Journal entry is as … canon fax forwarding