On may 1 anders company purchased merchandise
WebOn 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. Web21 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. …
On may 1 anders company purchased merchandise
Did you know?
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. Web18 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 …
WebBeginning inventory plus net purchases is: 2% cash discount if the amount is paid within 10 days, or the balance due in 30 days. The credit terms 2/10, n/30 are interpreted as: E. … WebThe cost of the merchandise was $650. May 4, we issued Empire a credit memo for $500 because of a slight defect in one of the items May 10, we received a check from Empire Company. Record the necessary journal entries. April 2, Sold merchandise on account to Brown Company for $18,900, 1/10, n/30. The cost of the merchandise sold was $13,300.
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 … 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 …
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 …
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 … the parc poolerWebTransportation 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 … shuttle hurldes 100mWeb11 de out. de 2024 · 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 - 6005538 shuttle hurdle relay setupWebHercules Company purchased a computer for $4500 on December 1. ... The steps in the accounting cycle for a merchandising company are the same as those in a service company except: a. an additional adjusting journal entry for inventory may be needed in a merchandising company. b. the parc maumelle arWeb13 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 … shuttle iah to college stationWeb2 de abr. de 2024 · Question. QUESTION 5 On May 1, Shilling Company, Inc. sold merchandise inthe amount of $5,800 to Anders, with credit terms of 2/10, n/30.The cost of the items sold is $4,000. Shilling uses the perpetualinventory system. The journal entry or entries that Shilling willmake on May 1 is: Accounts receivable 5,800 Sales 5,800 Cost … shuttle hudson wiWebStudy 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 … shuttle iah to hou