On may 1 anders company purchased merchandise

Web18 de nov. de 2024 · On May 1, Anders Company will record the purchased merchandise in the amount of $5,800 from Shilling by debiting the inventory and crediting the accounts … WebASK AN EXPERT. Business Accounting A company purchased $4,500 of merchandise on May 1 with terms of 2∕10, n∕30. On May 6, it returned $250 of that merchandise. On May 8, it paid the balance owed for merchandise, taking any discount it is entitled to. The cash paid on May 8 is a. $4,500. c.

On may 1, anders company purchased merchandise in the.

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. … WebAnswers: 2 on a question: 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 … culligan shower filter reddit https://msannipoli.com

On May 1, Shilling Company sold merchandise in the amount of …

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 … WebOn March 1, KB Shop had $450,000 of inventory at cost. In the first quarter of the year, it purchased $1,590,000 of merchandise, returned $23,100, and paid freight charges of $37,600 on purchased merchandise, terms FOB shipping point. The company's gross ; A company purchased merchandise inventory at a cost of $8,500 with credit terms 2 10, … 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 … eastgate giant eagle

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Category:On may 1. anders company purchased merchandise in the amount …

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On may 1 anders company purchased merchandise

On May 11, Smythe Co. accepts delivery of $30,000 of merchandise …

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 … WebA 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 …

On may 1 anders company purchased merchandise

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WebTax for P380,000. 2. On June 1, 2012, Jeanah Company sold merchandise with a list price of P5,000,000 to a. C. Debit Accounts Receivable for P5,500,000 and credit Sales for P5,000,000 and Output customer. The entity allowed trade discounts of 20% and 10%. Credit terms were 5/10, n/30. WebAnders uses the perpetual inventory system. The journal entry or entries that Anders will make on May 1 is: On May 1, Anders Company, Inc. purchased merchandise in the …

WebRoberto Company uses a perpetual inventory system. On December 1, the company purchased $3,300 of merchandise for cash. Complete the journal entry. A company purchased merchandise inventory at a cost of $8,500 with credit terms 2 10, net 60. If the company borrows $8,330 to pay for the purchase on the last day of the discount period … Web20 de nov. de 2024 · On May 1, Shilling Company sold merchandise in the amount of $5,800 to Anders, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. - 13915387

Web13 de fev. de 2024 · Amount of merchandise purchased = $5,800. Credit terms = 2/10 and n/10. By using a perpetual system and gross method, Thus, the Journal entry will be as follows: On May 1, Merchandise inventory A/c Dr. $5,800 To accounts payable $5,800 (To record the purchase of merchandise on account at May 1)

Web9 de nov. de 2024 · Dr Merchandise Inventory 5,800 Cr Accounts Payable 5,800; Explanation: The only records that Anders Company should make on May 1 regarding …

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 the gross method. The journal entry that Anders will make on May 1 is: merchandise inventory: debited 5,800 accounts payable: credited 5,800. east gate estates new port richeyWeb13 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 payment. Once the company pays off their credti within 10 days, a 10% discount entry will be entered. eastgate glasgowWebOn May 1, Shilling Company, Inc. sold merchandise in the amount of 5,800 to Anders, with credit term of 2/10/, n/30. The cost of the items sold is 4,000. Shilling uses the perpetual inventory system. The journal entry or entries that Shilling will make on; A company sold merchandise with a cost of $221 for $350 on account. eastgate graphicsWeb25 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 … eastgate galleryWeb21 de jun. de 2024 · Correct answers: 2 question: 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 or entries that anders will make on may 1 is: ) sales b) 5,80 accounts receivable 5,80 c) purchases … eastgate giant eagle greensburg paWebTransportation costs were an additional $350. The company returned $275 worth of merchandise and then paid the invoice within the 2% cash discount period. The total … eastgate gardens washington dcWebStudy 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 … culligan shower filter lowes