BAC 101 Exam 2-Guide 2023

Multiple choice

Please prepare journal entry also check plagiarism no plagiarism please

Please try to do all the tabs thank you

Problem 2 Complete the chart. Two rows have been completed for you as examples Tip: Some of these accounts are discussed in Chapters 7 & 8, and you can find them on the Sample General Ledger Accounts table at the back of your book (also available in the e-text). Accounting Equation Normal Financial Financial Statement Temporary Closed /Not Account Title Classification Balance Statement Classification /Permanent Closed Merchandise Inventory Asset Debit Balance Sheet Current Asset Permanent Not Closed Sales Discounts Contra-revenue Debit Income Statement Revenue Temporary Closed Sales Returns & Allowances Petty Cash Fund Allowance for Doubtful Accounts Accumulated Depreciation Purchases Purchase Returns & Allowances Depreciation Expense Sales Tax Payable Sales Freight-In Uncollectable Accounts Expense Interest Income Notes Payable

Hello tutor provide solution this general accounting question

Multiple choice

Let's assume the merchandiser (buyer) pays after the discount period expires, how will the vendor (seller) journalize the Jeff. Fvpayment? Add the appropriate amount to the appropriate accounts provided below. Use the invoice provided.

Question 15 Which feature helps streamline the purchasing process once a customer approves an estimate? Create invoice from estimate O Price Rules O Create purchase order from an estimate Create invoice from purchase order

Which document would be used to support the recording of  a sale on account?   Question 49 options:   Sales order   Purchasing order   Shipping label   Sales Invoice

Answer in all option

Question Content Area Merchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $19,700. What is the amount of sales discount allowable? a. $189 b. $142 c. $201 d. $394

Multiple choice

Question 14 What should you do to streamline the purchasing process once the customer approves an estimate? O Create invoice from purchase order O Create purchase order from the estimate Create a price rule from the estimate Create invoice from the estimate

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I need help with my accounting homework

Angel Ake 10122122 Intro Acc Los angeles trade tech. acct1 exam 3 fall 2022 BERIS Problems 2 1.Sully sold merchandise to buck pon account 58900 terms 2/15 n/430 .the codt of the merchsndidse sold is435200. journALIZE THE ENTRIES FOR SULLY and aBUCK FOR THE SALE, PURCHAASE AND PAYMENT FOR THE AMOUNT DUE. ASSUME THAT ALL DISCOUNTS ARE TAKEN 2.FOR THECURRENT YEAR MERCHANDISE IS SOLD FOR 21100 IN CASH AND 341700 ON ACCOUNT. THE COST OF MERCHANDISE SOLD IS4217200. WHAT IS THE AMOUNT OF GROSS PROFIT. 12pts Lais Martinez

The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $209,000. b. Raw materials used in production, $189,000 ($151,200 direct materials and $37,800 indirect materials). C. Accrued direct labor cost of $50,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $129,000, f. The company applies manufacturing overhead cost to production using a predetermined rate of $10 per machine-hour. A total of 76,300 machine-hours were used in October. 9 Jobs costing $510,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $450,000 to complete according to their job cost sheets were shipped to customers during the month. These Jobs were sold on account at 26% above cost Required: 1. Prepare journal entries to record the transactions given…

I just need to know how to find the cost of imventory sold

me Quiz i What would your credit rating be if you have merchandise repossessed? Multiple Choice O R6 R5 R7 R9 R8 Saved

Suidd ping Sear Corporat... When merchandise purchased on account is returned under the perpetual inventory system, the buyer would debit O Accounts Receivable Accounts Payable Purchases Returns and Allowances O Inventory Next Previous Email Instructor

Question 9 of 40 A(n)_ is a refund of a portion of, but not all of, the sales price of an item. A. sales allowance B. uncollectable account C. sales return D. sales order SUBMIT

GLO402 - Based on Problem 4-2A Lowe's Company LO P1, P2 Prepare journal entries to record the following merchandising transactions of Lowe's, which uses the perpetual inventory system. (Hint: It will help to identify each receivable and payable; for example, record the purchase on August 1 in Accounts Payable-Aron.) 1 Purchased merchandise from Aron Company for $7,500 under credit terms of 1/10, n/30, FOB destination, invoice dated August 1. 5 Sold merchandise to Baird Corp. for $5,200 under credit terms of 2/10, n/60, FOB destination, invoice dated August 5. The merchandise had cost $4,000. 8 Purchased merchandise from Waters Corporation for $5,400 under credit terms of 1/10, n/45, FOB shipping point, invoice dated August 8. 9 Paid $125 cash for shipping charges related to the August 5 sale to Baird Corp. Aug. Aug. Aug. Aug. Aug. 10 Baird returned merchandise from the August 5 sale that had cost Lowe's $400 and was sold for $600. The merchandise was restored to inventory. Aug. 12…

Use the following purchases journal to record the transactions. (If a box is not used in the journal leave the box empty; do not select any information and do not enter a zero. Abbreviation used: Supp. = Supplies) A (Click the icon to view the transactions.) Purchases Journal Page 6 Other Accounts DR More Info Vendor Post. Accounts Merchandise Office Account Post. Date Account Credited Terms Ref. Payable CR Inventory DR Supp. DR Title Ref. Amount 2024 Oct. 1 Purchased merchandise inventory on account with credit terms of 2/10, n/30 from Milly Co., $2,000. Oc. Oct. 11 Purchased office supplies on account from Ball Co., $450. Terms were n/EOM. Oct. 24 Purchased furniture on account with credit terms of 3/10, n/60 from Slip Co., $1,400. Print Done

QUESTION 6 When a buyer returns merchandise purchased on account, the buyer will record the transaction as a a. debit to Merchandise Inventory; a credit to Cash b. debit to Sales; a credit to Accounts Payable c. debit to Accounts Payable; a credit to Merchandise Inventory d. debit to Cash; a credit to Sales

Intermediate Accounting 105 May I please have assistance with this exercise? Thank you

Use the following purchases journal to record the transactions. (If a box is not used in the journal leave the box empty; do not select any information and do not enter a zero. Abbreviation used: Supp. = Supplies) a (Click the icon to view the transactions.) Purchases Journal Page 6 Other Accounts DR Vendor Post. Accounts Merchandise Office Account Post. Date Account Credited Terms Ref. Payable CR Inventory DR Supp. DR Title Ref. Amount 2024 Oct. More Info Oct. 1 Purchased merchandise inventory on account with credit terms of 2/10, n/30 from Milk Co., $2.700, Oct. 11 Purchased office supplies on account from Book Co., $400. Terms were n/EOM. Oct. 24 Purchased furniture on account with credit terms of 4/10, n/60 from Slip Co., $1,600. Print Done