On may 1 anders company purchased merchandise

Author: cmpt

August undefined, 2024

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 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.

On may 1, anders company purchased merchandise in the.

Web25 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 … Web17 de dez. 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. - 14222315 doc esser health food rock n roll

Question QUESTION 5 On May 1, Shilling Company, Inc. sold merchandise ...

Web2 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 … 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 … 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 creative action austin tx

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

Financial Accounting Quiz 2 Key Flashcards Quizlet

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. 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 … creative action planWebAccounting questions and answers. TB MC Qu. 04-111 (Static) On May 1, Anderson Company purchased... 17 On May 1 Anderson Company purchased merchandise in … docetaxel and cetuximab head and neck

"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

On may 1 anders company purchased merchandise

Financial Accounting Exam 2 Sample Questions - Quizlet

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 … 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 …

Did you know?

WebAccounting 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 … 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 …

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) 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. …

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 … 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 …

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.

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 … do cervical vertebrae attach to the ribsWebOn 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. docetaxel and garlicWebVerified Answer for the question: [Solved] On May 1, Anders Company, Inc. purchased merchandise in the amount of $5,800 from Shilling, with credit terms of 2/10, n/30. Anders uses the perpetual inventory system. The journal … creative action summer campWebQuestion 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. … creative actions 2WebTEST 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) ... docetaxel and alcoholWeb21 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 … creative activation mystery shopping reviewsWeb9 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 … docetaxel cisplatin and 5-fluorouracil